President Biden signed into law the American Rescue Plan, a colossal spending bill that drove inflation to record highs by adding nearly $2 trillion to the national debt and creating the largest expansion of the welfare state since President Lyndon B. Johnson was in office. President Biden signed into law the American Rescue Plan, a colossal spending bill that drove inflation to record highs by adding nearly $2 trillion to the national debt and creating the largest expansion of the welfare state since President Lyndon B. Johnson was in office.
