Americans Should Brace for Higher and Longer Inflation Than White House is Willing to Admit
Democrats are blaming everyone but themselves for 40-year high inflation and offering no solutions to fix it, Republican Leader on the Ways and Means Committee Rep. Kevin Brady (R-TX) said on Fox Across America with Jimmy Failla.
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Democrats fueled inflation with their $2 trillion COVID “stimulus” and deny that it’s getting worse, Rep. Brady said:
“Democrats set the fire with that nearly $2 trillion COVID stimulus that fueled 40-year high inflation that paid people more to stay home than return to work, drove a lot of demand in the U.S. just as we were recovering and couldn’t handle it.
“I just haven’t seen any plan from them. They’ve blamed everyone, I think including the Easter Bunny if I’m not mistaken, but they just haven’t come up with solutions.”
On how inflation is hammering American families, Rep. Brady said:
“We got the economic reports last week, so prices are growing three times faster than paychecks. Your average family lost about $5,000 in real wages. For most families, including mine, that’s a ton.
“And inflation is accelerating. That’s what the Biden administration just will not confess.
“It is getting worse, according to every report showing how much more Main Street businesses are paying including Main Street businesses. Americans are going to have to brace for much higher inflation, and longer, than anyone in the White House is willing to admit.”
Asked about what can be done to curb inflation, Rep. Brady said:
“The answer is, first, stop making it worse. And that’s exactly what Biden wants to do. They’ve still got this Build Back Better plan they’re working on – $1.52 trillion dollars – more stimulus, more spending, higher taxes, which by the way, are going to end up in higher prices.
“End all COVID-era programs, get those out of the budget. Stop discouraging people from reconnecting to work, which they continue to do. I’d freeze spending on everything but defense. Stop making that worse, at least from the government’s standpoint.
“Republicans, when we take the majority, you’ll see a focus not only on more government stimulus but on supply. So encouraging investment in new equipment and technologies that will help solve the supply chain. And more incentives to reconnect people back to work – we’ve lost about 2 million under President Biden. They’re just not reconnecting. We need them back. That’s going to help inflation too.”