Spending to pay for a UBI would cause rapid inflation by adding money to the economy without increasing production – empirically proven.
Hughes, 2023 - Founder of Bull Oak Capital, an investment advisory firm [Ryan, Jan 27, “Universal Basic Income is a Bad Idea” https://bulloakcapital.com/blog/universal-basic-income-is-a-bad-idea/ Acc 3/23/23 TA]
PESKY INFLATION If UBI were to be financed by increasing the federal deficit, it would most undoubtedly fuel inflation. As a reminder, inflation is caused by a more rapid increase in the quantity of money than the quantity of goods or services produced during the same time period. In other words, if the nation’s printing press produces money at a greater rate than its economy can produce, the result will be higher inflation levels. Printing an extra $3.8T yearly will surely cause inflation to roar. If our irresponsible fiscal spending habits during 2020 and 2021 taught us anything, it is that handing out money to anybody and everybody does not contribute to low inflation levels.