On Wednesday's edition of Fox Business Network’s “Evening Edit,” Rep. James Comer (R-KY) declared that the spending agreement between Senate Democrats is “just going to create more inflation,” and “We're probably going to see double-digit inflation in the next month or so.” In addition, Democrats “believe there's going to be a little pain but the average American consumer can handle it if the government spends more money and subsidizes them and gives them more subsidies.”
Comer said that the rate hikes announced by the Federal Reserve won't fix energy supply problems. He also said:
The problem here is the Democrats have spent too much money. There’s been too much stimulus. Interest rates were…probably too low for too long. But, at the end of the day, there’s been too much money that’s been spent in the name of COVID, in the name of stimulus. So, the only way to combat the inflation which is a result of overspending is to increase rates. So, for the Fed to do it again after they had just raised rates 3/4 of a percent, it shows how serious they think inflation is. We’re probably going to see double-digit inflation in the next month or so. And I don’t — I hope that that starts to do something to tame inflation, but we heard just now that the Senate may be doing the Build Back Better plan now again. That’s just going to create more inflation, more spending leads to more inflation.
He also said, “I'm afraid we're not getting back to normal as long as Joe Biden is President, as long as Pelosi and Schumer are in charge of Congress.”
Comer also stated that “Democrats really believe that they can create some kind of Green New Deal utopia. They believe there’s going to be a little pain but the average American consumer can handle it if the government spends more money and subsidizes them and gives them more subsidies.”
