According to Magic Money Tree economists, the price would remain the same. They think that we are in a deflationary economy and don't realize it, and there is lots of room for increased spending with no inflation.
There are also mechanisms to counter inflation if government spending does start to cause inflation. For example the Fed could raise interest rates and curb private borrowing.
Magic Money Tree economists would rather see the federal funds rate permanently set at zero and instead use varying tax rates to curb inflation. But the end result will still be a curb on inflation.