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Pelosi’s Excuse For Inflation; Her Line of “Reasoning”
Posted On 14 Mar 2022
House Speaker Nancy Pelosi, D-Calif., argued Friday that global inflation “starts with [Russian President Vladimir] Putin,” but that increased U.S. government spending on domestic social programs would help decrease the national debt and bring down inflation at home.
During the 2022 House Democratic Issues Conference, Pelosi referred to record gas prices in the U.S. as “Putin’s tax” and “Putin’s gas hike.” She said passing components of President Biden’s multi-trillion-dollar social policy bill, called the Build Back Better Act, which is all but dead due to moderates’ opposition, would make new investments in education and workforce development in a way that would eventually bring prices down.
Gas prices across the United States had been rising sharply long before Putin launched Russia’s unprovoked invasion of Ukraine, since Biden’s first days in office when he canceled the Keystone XL pipeline and “paused” oil and gas leases on federal lands via executive order. The Biden administration released 50 million barrels of oil from the National Strategic Reserve on November 23, 2021, in an attempt to alleviate growing pain at the pump. Russia invaded Ukraine on February 24, 2022. The Biden administration released another 30 million barrels from the reserve in early March 2022.
“One other point that we’ll make about it is that what we are doing in our legislation, what we would do in the Build Back Better – seventeen Nobel laureates in economics said that legislation does not increase inflation. It is non-inflationary because of the way it is written,” Pelosi said.
“So when we’re having this discussion, it’s important to dispel some of those who say, well it’s the government spending – no, it isn’t,” she continued. “The government spending is doing the exact reverse, reducing the national debt. It is not inflationary.”
“We’re paying very close attention to it, but this starts with Putin because the global inflation for reasons beyond the gas price,” she continued. “Global inflation is something that we have to deal with globally, but we have our responsibility to deal with it at home, and we have legislation that does just that, by increasing supply and, again, creating jobs in a way that is not adding to inflation.”
Biden made similar comments during a Democratic retreat in Philadelphia on Friday.
“I’m sick of this stuff,” he said, gesturing with his hands to suggest he’d had it up to his neck. “The American people think the reason for inflation is the government spending more money. Simply not true.”
Meanwhile, experts say Biden’s $1.9 trillion American Rescue Plan along with problems caused by the coronavirus pandemic, including supply chain issues and rising demand, is helping hike prices, according to The Wall Street Journal.
Steven Rattner, a former Treasury Department official under the Obama administration, has called the spending in American Rescue Plan the “original sin” that caused inflation.
Original Article: https://www.foxnews.com/politics/pelosi-government-spending-national-debt-inflation
What a load of crap!!
I don’t care how they try to explain it we were so much better off in America before Biden entered the White House.
Agreed. Trump did a much better job.
Where do we find these stupid political hacks!
Wonder how many drinks propped up the sots line of reasoning. She is the devil incarnate. She is a big part of our nation’s failing. Big, big part. She is crazy enough to be dangerous!!!
Yes, spending more money reduces inflation in Democrat minds.
Nancy needs to retire her senile self.
Biden and pelosi are morons if they think the American people believe there bullshit. They are full of crap and everyone sees it Hopefully they will be gone soon!!! They will probably cause a civil war.
If I spend more than I make, wow I would never get my head above the water. I have a credit card and pay it off every few weeks as I don’t want to pay interest. Yes, the Government should balance their check book and STOP THE SPENDING BY EAR MARKS AND STUPID THINGS THAT AREN’T NEEDED.
WHAT A TOTAL IDIOT!
you do realize that the pipeline was not going to give the Us gas.. It was just that a pipeline going through the US. it would have created some temporary job for a short while Im tired of the media lying
Your as dumb as the government idiots! It was coming to the Gulf Coast and would provide oil and gas to the US. This info is from my husband who knows a Lot more about than you so obviously do.
Pelosi must have gone to the same school as AOC. They talk the same economics trash.
Calling them “idiots “ is an insult to idiots everywhere. They’ve the collective intelligence of garden slugs. I sometimes think that the Biden administration got into Hunter’s stash and didn’t know when to stop.
Pelosi knew full well that she was gaslighting. She will say anything and everything necessary for the Democrats and socialists to get votes and maintain control. The old adage holds. “How do we know she’s lying? Her lips were moving.”
Pelosi’s reasoning on inflation: Inflation is good, I make rich people like Me richer.
Inflation never had it under Trump good jobs people working Biden comes in it all went away did not have a supply chain problem gas was stable and no war in Europe We will survive this just remember all of this when you go to vote Make sure you vote Republicans in in the midterms and for president in 2024