By: MOS Fitness Team — Ashley
According to media reports on January 11, U.S. Senator Joe Manchin believes that the Build Back Better act promoted by President Biden may continue to increase the U.S. deficit and debt, and foster the fastest growing inflation crisis the United States has experienced in nearly 40 years.
Research data shows that at the current rate of inflation in the United States, each American household will spend an additional $5,000 per year due to inflation, and more than half of the additional spending is because of the increased price of essential living expenses. The situation is more pronounced among low-income households. Moreover, the rate of inflation is directly proportional to the increase in government tax collection, and for the current state of inflation in the U.S., a median income household will spend an additional $1,500 on taxes.
In this regard, Miles Guo has repeatedly mentioned on Grand Live Broadcast that the inflation issue t is already very serious in the U.S. and the world. Furthermore, this plight will be converted into a more serious stagflation issue with the gradual deterioration of circumstances.
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