What’s causing inflation? According to Democrats, it’s Putin or something. Refusing to recognize that the government pumping trillions of dollars into the economy might increase inflation, they bizarrely claim that government spending is in no way responsible for the sky-high inflation we’re seeing, inflation higher than in four decades.
Joe Biden, for example, went mad at the thought that people are blaming debt-fueled government spending for inflation, yelling during the Democrats’ Issues Conference that:
“I’m sick of this stuff…the American people think the reason for inflation is government spending more money. Simply not true!”
Biden: “I’m sick of this stuff … the American people think the reason for inflation is government spending more money. Simply not true!”
— RNC Research (@RNCResearch) March 11, 2022
But he’s not the only one, nor is that even the wackiest claim the leftists running the government are pushing about the inflation crisis and government spending.
No, according to nasty Nancy Pelosi, government spending is actually decreasing, not increasing inflation. Here’s her claiming that:
.@SpeakerPelosi: “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. The government spending is doing the exact reverse, reducing the national debt. It is not inflationary.” pic.twitter.com/6HKE5gX2SP
— The Hill (@thehill) March 12, 2022
As you can hear in the video, Pelosi makes an absurd claim about government spending and inflation, saying “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. The government spending is doing the exact reverse, reducing the national debt. It is not inflationary.”
Included in there is the idea that not only is the government’s spending “doing the exact reverse” of increasing inflation, but that it’s also somehow reducing the national debt.
What? Someone needs to re-explain basic math to Pelosi, perhaps using stocks as an example since she seems to be fond of those.
As a reminder, taking out more debt to fund more government spending leads to a larger debt, not a smaller one.
It’s paying back the debt, something both sides of the uniparty are loath to do, that makes it smaller, not spending ever larger amounts of money on dumb projects.
She also took the opportunity to blame the increase in the cost of gasoline on Putin, saying that it was “Putin’s gas hike” during her speech. Watch that here:
Nancy Pelosi: “Putin’s gas hike. That’s his gas hike” pic.twitter.com/2sj8Uq5xQz
— The Post Millennial (@TPostMillennial) March 11, 2022
I guess it was Putin that shut down the Keystone XL pipeline, started limiting permitting for new drilling permits, particularly on federal land, and has pushed electric cars as the solution to gas price woes.
Maybe Putin also went on paternity leave when supply chains was snarled and he was in charge of transportation and flooded the US economy with trillions of dollars of debt-created funny money. Quite a bond villain, that Putin!
Regardless, try as they might to push responsibility onto someone else or even claim that massive government spending is a good thing, no one believes nasty Nancy and Joe Biden. They have a point that not all of our inflation woes are Brandon’s fault, but that’s about it.
Nancy’s claims are particularly absurd. Huge amounts of debt-fueled spending don’t do “the exact opposite” of decreasing inflation, nor does it somehow decrease the national debt. To pretend otherwise is beyond absurd, whatever Pelosi and her ilk claim.