A few days back, I wondered if Nancy Pelosi was drunk prior to a press conference. I’m starting to feel a lot better about that theory, after her latest performance.
The House Speaker had deep and compelling thoughts about the federal deficit. Did you know, for example that the government spends actually ReducedWhat is the deficit? Yes, I do know that wonders don’t cease.
.@SpeakerPelosi“When we have this discussion it is important to dispel some people who think it’s all government spending. The government spending is not the problem. It is actually doing the opposite, decreasing the national debt. It’s not inflationary.” pic.twitter.com/6HKE5gX2SP
— The Hill (@thehill) March 12, 2022
The White House has also heard about this topic. Joe Biden, who criticized Americans for placing blame on government spending, claimed that the massive dollar-printing programs like the American Rescue Plan did not have an impact.
Regardless of who is saying it, though, it’s absolutely a false contention. Under Joe Biden, the federal government spent $6.82 Trillion in 2021. This is roughly 50 percent higher than what the United States spent in 2021 before the pandemic. In 2019, spending was $4.4 trillion. To suggest that blowing that much funny money into the economy isn’t inflationary is so absurd as to call into question the pronouncer’s mental sanity.
Besides, we don’t have to wonder about this topic. Inflation is at 7.9 per cent year-over-year. It’s not difficult to see how the federal budget has played a major role in the rise of prices, compared with the years before the pandemic. There has been no other change. Yes, demand has increased following the lockdowns, but there was high demand prior to the pandemic–and inflation still remained between 1-2 percent.
As to the notion that the government spending being called for by Democrats reduces the deficit, that’s also totally false. CBO rated the Biden/Pelosi agenda at adding hundreds of billions to the deficit. This was almost double the amount from prior pandemic spending. To the extent that the deficit is being reduced at all right now, it’s only because spending is slowly returning to what are still record highs compared to pre-pandemic budgets.
It is absurd for politicians to say that spending on government reduces the deficit when it remains at an astronomical level. It’s gaslighting of the highest order. Democrats will need to find a better explanation for why common items are so costly right now, rather than pretending that we can afford the inflation boom our nation is in. Pelosi’s lies are a clear example of the fact that there is no alternative explanation.
Are any fact-checkers willing to take her on? No. They haven’t even bothered to fact-check Biden’s comments on inflation I mentioned earlier in this article. Regardless, I don’t think Pelosi’s “crazy aunt” act is very convincing for most Americans, no matter how the media covers it.
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