Why is the Biden Administration Continuing to Get It Wrong on Inflation?
The Biden Administration is still pursuing more spending and higher taxes that will make inflation worse, warned Republican Leader on the Ways and Means Committee Rep. Kevin Brady (R-TX) on CNBC’s Squawk Box, ahead of a Ways and Means Committee hearing with Treasury Secretary Janet Yellen.
CLICK HERE to watch the full interview.
The worker shortage, stoked by Democrats’ policies, is contributing to inflation – Congress can work in a bipartisan way to get workers to return to work:
“I wish the moderate Democrats hadn’t voted for all the spending and incentives against work that have made this inflation so bad.
“I do think a focus on the workforce would be hugely helpful. We are still missing several million Americans out of the workforce that could be very helpful in manning production lines, assembling products, delivering and servicing them. I think that’s an area of bipartisan support we could reach.”
READ: ONE PAGER: If Fighting Inflation is Dems’ Top Priority, Why Won’t They Work with GOP?
President Biden’s policies are shrinking our economy – why continue to pursue policies that will make it worse?
“I have a great deal of respect for Secretary Yellen, but right now I think they got it wrong. We have a shrinking economy, slower job growth, still raging inflation and while you’re tempted to ask, ‘How did you get it so wrong?’, the real question is ‘Why are you continuing to get it wrong?’ because the Secretary and the Administration is still pursuing major spending bills with higher taxes that will drive inflation worse. And there’s real concerns about this global minimum tax and its impact here on America. I’m very respectful of the Secretary, but I think she’ll face some tough questions.”
READ: Fact Check: Americans Need Solutions to Inflation, Not Higher Taxes
Democrats are in denial about how their policies and spending drove inflation higher – and many moderates are growing more critical of the White House:
“No doubt, Democrats’ incentives that kept workers disconnected from their job were major creators of inflation, and then not addressing this supply chain crisis in any meaningful way.
“I think my worry is that we’ve got an economy that’s in a wage-price spiral. We have a looming recession and about 80 percent of Americans say the President’s economic performance is poor.
“I think those are probably driving some Democrats to have an agenda separate from the president.”