Democrats on Thursday rejected a resolution that asked the Treasury Department to give Congress its assessment of whether big spending bills are having an effect on inflation.
Sen. Roger Marshall, R- Kan., discusses Biden's remarks on Roe v. Wade, the Democrats' agenda, the scheduled Senate leadership vote and vaccine-related myocarditis.
Rep. James Comer, R-Ky., accused Democrats of ignoring the inflationary effects of the trillions of dollars in spending approved by the Biden administration. But Republicans argued that many economists believe that flooding trillions of dollars of government spending created excess demand that led to higher prices, and that Democratic spending bills would only make the problem worse. Economists who agree say it’s a basic economic principle that excess money in the system leads to higher prices that the Federal Reserve is now trying to fight by increasing interest rates, which could cause a recession.
President Biden has signed trillions of dollars in new spending into law during his two years in office.
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