Inflation Surge Tees Up Political Peril for Biden Spending Plans

May 12, 2021, 3:56 PM

A surge in inflation is fueling a political threat to President Joe Biden’s plans for vast new federal spending on infrastructure and social programs, adding to White House officials’ worries after a disappointing jobs report on Friday.

Biden’s Republican opponents have seized on rising prices, the slower-than-expected pace of hiring and even growing fuel shortages from a computer hack of Colonial Pipeline Co. to compare his administration with the “stagflation” era of former President Jimmy Carter. The specter of hours-long waits in lines to fill up with gas has only enhanced the parallel.

GOP criticism was building even ...

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