(ConservativeInsider.org) – With soaring gas and grocery prices, many Americans are hoping the White House can bring the current inflation surge under control. To do that, the government must understand what caused costs to skyrocket in the first place. Along these lines, House Speaker Nancy Pelosi (D-CA) believes big federal spending didn’t cause inflation in the first place, and additional government spending can bring down the US debt.
On Friday, March 11, Pelosi spoke at the House Democratic Issues Conference, claiming that inflation “starts with [Russian President Vladimir] Putin.” She went on to declare the Build Back Better plan, a multi-trillion-dollar government spending bill currently stalled in Congress, would “not increase inflation.” Fox News shared more of Pelosi’s claims regarding the bill:
Pelosi claims government spending is ‘reducing the national debt,’ not causing inflation https://t.co/IWnvZAZAZ3
— Fox News (@FoxNews) March 13, 2022
In contrast to Pelosi’s claims, many experts believe implementing Biden’s $1.9 trillion American Rescue Plan in March 2021 was the point when inflation really took off. Even former Obama-era Treasury Department official Steven Rattner called Biden’s plan the “original sin” of our current economic crisis.
While Pelosi can continue trying to convince Americans more government spending will somehow reduce the national debt and minimize inflation, most people who have kept a budget understand more spending does not produce less debt. If only the Democrats could wrap their heads around that concept.
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