Some economists fear that all this spending will crank up inflation, and put Biden’s economic legacy at risk. You see this in complaints by employers— along with some early data, and loads of anecdotal evidence —that people aren't taking jobs because of the boost to unemployment payments. You see this in the news that budget deficits in states weren't nearly as bad as expected. "Let the good times roll!" says an L.A. Times headline this weekend. "Gusher of stimulus funds a gift for governors like Gavin Newsom." Yet Biden still wants to spend more. Larry Summers — who was Treasury Secretary under President Bill Clinton, and started warning about inflation in February — told Axios he's more concerned than he was several months ago.