On Wednesday’s broadcast of the Fox Business Network’s “Evening Edit,” Rep. James Comer (R-KY) stated that the spending deal among Senate Democrats is “just going to create more inflation,” and “We’re probably going to see double-digit inflation in the next month or so.” And that Democrats “believe there’s going to be a little pain but the average American consumer can handle it if the government spends more money and subsidizes them and gives them more subsidies.”
Comer stated that the rate hike by the Federal Reserve won’t fix energy and supply issues, and “The problem here is the Democrats have spent too much money. There’s been too much stimulus. Interest rates were…probably too low for too long. But, at the end of the day, there’s been too much money that’s been spent in the name of COVID, in the name of stimulus. So, the only way to combat the inflation which is a result of overspending is to increase rates. So, for the Fed to do it again after they had just raised rates 3/4 of a percent, it shows how serious they think inflation is. We’re probably going to see double-digit inflation in the next month or so. And I don’t — I hope that that starts to do something to tame inflation, but we heard just now that the Senate may be doing the Build Back Better plan now again. That’s just going to create more inflation, more spending leads to more inflation.”
He added, “I’m afraid we’re not getting back to normal as long as Joe Biden is President, as long as Pelosi and Schumer are in charge of Congress.”
Comer further stated, “Democrats really believe that they can create some kind of Green New Deal utopia. They believe there’s going to be a little pain but the average American consumer can handle it if the government spends more money and subsidizes them and gives them more subsidies.”
Follow Ian Hanchett on Twitter @IanHanchett
