President Biden’s budget will send 40-year inflation even higher on Americans, warned Republican Leader on the Ways and Means Committee Rep. Kevin Brady (R-TX) on Yahoo Finance, repeating the same mistakes from COVID-era “stimulus” that sent prices soaring in the first place.
With the majority of Americans worried that the economy is already in a recession or a depression, Rep. Brady urged Democrats to offer real solutions, abandon their tax hikes and spending, and address the worker shortage.
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Asked about Democrats’ attempt to pass the buck for higher energy costs, Rep. Brady said:
“I think everyone realized this was political theater, a dog and pony show, for Democrats to shift blame away from their policy decisions that have driven those prices at the pump up high, and will continue to be higher.”
Americans don’t see any solutions from President Biden to address rising prices, Rep. Brady continued:
“Inflation has been raging for a full year now, way before the Russian war on Ukraine, and frankly inflation is accelerating. Most Americans are bracing for even higher prices. The answer for the Biden Administration right now is: stop making it worse.
“Right now, they are looking at more spending in a Build Back Better bill, more tax hikes that will end up in higher prices for consumers, and I haven’t seen any solution for the worker shortage which is driving so much of inflation.
“The American public feels like they are in a recession or a depression already because they’ve lost so much purchasing power, and they don’t see any solutions coming forward.”
On President Biden’s so-called “COVID stimulus” which drove inflation to a 40-year high, Rep. Brady said:
“The March $2 trillion COVID stimulus drove a lot of demand, stimulus-checks, a lot of new federal spending into an economy that didn’t need it.
“A lot of the benefit programs, the unemployment benefit program, the Affordable Care Act, those subsidies were so lavish they created a barrier to reconnecting people to work. And I think we still have some hangover from that, even today.
“I worry the Biden Administration wants to repeat those mistakes in this new $1-2 trillion Build Back Better, with some of the same problems within it.”
Finally, Rep. Brady proposed solutions to address the worker shortage:
“There is no doubt, the number one priority beyond this war for this administration needs to be workers, because it’s driving so much of the supply chain problems, the inflation problem, and it’s weighing on Main Street businesses.
“First, end all COVID-era emergency programs that are barriers to people returning to work. We still have some of those in place.
“Secondly, rather than spend half a trillion dollars on subsidies for $80,000 electric vehicles, instead invest that into the incentives that will get people off the sidelines and back into work.”