According to US media reports, President Joe Biden has reached out to Congress for more than a hundred trillion dollars in additional funds in less than 10 months. These funds come in a variety of guises, including grants for covid-19 bailouts, economic stimulus packages, SME loan funds, COVID-19 vaccine grants (including implementation costs), infrastructure grants, new weapons research and development projects, etc.; for this reason, the US government even saw a debt cap last month, and there was no way to pay public employees' salaries, and the government was facing a shutdown; the federal government had to agree to temporarily raise the debt ceiling and continue to open the national "borrowing channel".
Republicans are very unhappy with Biden, believing that he "takes the most money and does the least." Republicans calculate his bill as enough for the U.S. to allocate up to 60 percent of Biden's bill, but because the House is still under Democratic control, Biden can get his money every time, just often stuck in the Senate for a while. According to US media estimates, the new administration's additional budget in the first quarter of the presidency has exceeded the Trump administration's budget for 16 months, excluding the impact of the new crown pneumonia epidemic, Biden spends more than twice as fast as Trump.
Such a large amount of "printing money" has caused a rapid inflation in the US domestic currency. Data released by the US Department of Labor on the 10th showed that as of the end of last month, the annual inflation rate in the United States rose by 6.2%, reaching the highest level in 30 years. Even "democratic" media outlets such as CNN have no choice but to admit that the current fiscal situation has caused a decline in the quality of life of the American people, and the inflation problem provides a new opportunity for the Republican Party to attack Biden; and this trend will continue for a long time to come, because the government does not intend to solve it, and it seems that there is no effective means to solve inflation.
Some financial media believe that leaving aside other complex topics such as long-term impact, only one of them is that other people will have to spend more money on necessities, and when the basic cost of living rises, voters usually think that this is the problem of those in power. So the impression of Biden's "incompetence" is engraved in everyone's impression, and sure enough, the survey confirms this: 58% of Americans believe that Biden does not pay enough attention to the country's problems, of which the highest proportion of respondents believe that Biden does not pay enough attention to economic issues, 36%. It is ridiculous that Biden asked for the most money in history, caused a lot of trouble, and finally gave himself a "mess" among the people, and few people were satisfied with him.
It is also worth mentioning that there are very few solutions left for Biden so far, and many people predict that the amount of US Treasury debt sold by the Treasury department will reach a "staggering number" by the end of the year. According to normal economic laws, the DOMESTIC currency in the United States has been inflationed to an extreme value for 30 years this year, and the foreign exchange rate should fall sharply, but at present it does not seem to be as cliff-like as expected; the only reason is that borrowing by relying on dollar credits allows Biden to "not print too much money", as long as the Yalta dollar system is still in place, the United States will always be able to sell bonds, and the economy will be difficult to collapse.