For Immediate Release Contact: Senator Chris Kapenga
June 8, 2021 (608) 266-9174
Don’t Be Fooled, Folks!
Madison, WI — Senator Chris Kapenga (R - Delafield) issued the following statement concerning the non-partisan Legislative Fiscal Bureau (LFB) revenue re-estimates which show an unprecedented increase of $4.4 billion:
“When trillions of printed government dollars are pumped into the economy, there will no doubt be a short-term economic jump. Do not be fooled. First, all of this money will need to be paid back. Second, I believe we are on the verge of significant inflation, which will decrease the value of each dollar. This is a temporary jump in tax revenue—sound financial planning would require this money is not spent on more government programs but returned to the taxpayer. There is no magic money tree, folks.”