The Bipartisan Infrastructure Deal Will Worsen Economic Conditions

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Editor's note: Samuel Mangold-Lenett authored this column.Earlier this month, with great fanfare on the left and right, Biden signed a Bipartisan Infrastructure Deal (BIF), calling it "a once-in-a-generation investment in
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Editor's note: Samuel Mangold-Lenett authored this column.

Earlier this month, with great fanfare on the left and right, Biden signed a Bipartisan Infrastructure Deal (BIF), calling it "a once-in-a-generation investment in our nation's infrastructure and competitiveness."

Too bad it will provide no meaningful relief to the American people.

BIF was sold to the public under false pretenses, and if anything, it will only exacerbate the current economic crisis, worsening inflation and restricting private sector growth. In addition, it implements policies that negatively impact the non-affluent and provides the wealthy east and west coasts — which tend to be Democratic safe havens — with disproportionate tax relief.

Members of Congress worked to popularize BIF by assuring the American public that it would be fully financed so as not to increase the federal deficit, that it would not raise taxes, and that it would create lots of blue-collar jobs.

These selling points are largely untrue.

About half of the infrastructure package is funded through the repurposing of COVID-19 relief funds. The rest of the deal will be financed through deficit spending to the tune of nearly $400 billion. Deficit spending begets inflation, and inflation erodes the real value and spending power of each US dollar. This disproportionately affects the working and middle-class Americans who are already struggling due to recent price hikes caused by runaway inflation.

BIF also pushes private sector internet providers out of the marketplace by allocating $100 billion to promote the government and government-affiliated NGOs as providers of broadband. This will inevitably give the government more control over the internet and how it is accessed. Furthermore, it will likely trigger a decline in quality of service, as is nearly always the case when the government takes it upon itself to…
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