Brooks: “We Need to Pay for Increased COVID Spending, Fuel Inflation Deficits and More”

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    David Brooks, a columnist for the New York Times, stated that while he believes that increased funding for coronavirus is necessary, “the Republicans have the right to point out that we must pay that money. Because deficit spending fuels inflation.”

    Brooks said, “The Democrats are right. We need the money. The money must be spent on medicines, coverage, and all other stuff. However, I believe we should return to a normal scenario where we pay for what is spent. A. Inflation is not caused by a large amount of money. But we fuel inflation. And, B. Our debt is increasing at a time when interest rates are rising. We need to return to normal living, where we can spend money and pay for it. It shouldn't be difficult to raise $22 trillion in taxes. … So, I believe the Republicans have it right when they say that we must pay for this money. The Democrats have it right, however.”

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