On Thursday, Rep. James Clyburn (D-S.C.), admitted that both the Biden administration and congressional Democrats knew certain actions would increase inflation.
What do you say to people saying, “Boy, yes, Washington can talk all about these big programs and everything else, but I am concerned about the cost of food? Jose Diaz-Balart, the host, asked, “I’m seeing the price of eggs and gasoline rising.”
“Well, let’s be clear. We are all concerned about rising costs.” “This is why we created the recovery program.” Clyburn, the House majority whip admitted that prices tend to go up when you invest more money in the economy.
Joe Biden has been blaming everyone for inflation for many, many months. Biden falsely claimed that inflation began under Trump and that the COVID-19 pandemic caused it. He’s also tried to blame inflation on the Russian war in Ukraine, which Biden called “Putin’s price rise”.
In June, Treasury Secretary Janet Yellen acknowledged that she and Biden were wrong about inflation’s impact.
“Well, look, I think that I was wrong about the direction that inflation would take.” “I mentioned that there have been unexpected and large shocks to our economy that have boosted food and energy prices, and have caused supply bottlenecks that have adversely affected our economy in ways that I didn’t understand at the time,” Yellen stated to CNN. “But now we understand that.”
It seems like Clyburn does understand what has happened. Clyburn acknowledged that Joe Biden signed the $1.9 trillion American Rescue Plan into law in March 2021.