What does spending trillions of freshly-printed dollars on wasteful federal programs do? Well, according to House Appropriations Committee Chairwoman Rep. Rosa DeLauro (D-Conn.), it somehow lowers inflation.
Yes, you read that right. Spending money that just rolled off Jerome Powell’s money printers will somehow lower inflation. If only Weimar Germany or Mugabe’s Zimbabwe had known that! Oh wait, it didn’t work out for them…
But I don’t think those historical lessons would be worth teaching this Democrat. Rep. DeLauro, who literally has purple hair, doesn’t seem so much a student of history as a baldly (or purple-hairly?) partisan actor that cares far less about inflation than pushing Brandon’s massive spending bill.
Here’s what she said about the Build Back Better bill, according to Just the News:
We have “lifted over 50% of children out of poverty, all while fighting inflation, which people are concerned about today,” DeLauro told Just the News on a conference call during which she called for permanently expanding the CTC and retaining the automatic monthly payments.
“People who are knowledgeable in this field believe that a number of the programs which are attached to the the Build Back Better initiative, and including the child tax credit, can help to bring down inflation,” DeLauro said. “And you think about people’s ability to be able to, you know, to make their way to pay for the cost; but if you’re not, if there isn’t going to be any more money into the economy, and the prices just continued to rise, then that exacerbates a problem.”
It’s an argument as devoid of facts, evidence, or historical backing as it is of basic reason and specifics about just how pumping more money into an economy already overflowing with dollars so fresh they’re still warm from the printers will lower inflation.
However, that doesn’t mean she’s the only one making it. Her leftist compatriots released a publication making the same argument, claiming that spending yet more money on subsidizing various aspects of life will somehow lower prices.
Given that doing that worked so well with universities, which have seen tuition costs skyrocket since the government got involved in subsidizing the cost of school, how could they now make such brilliant claims?
For reference, inflation just hit the highest level in 40 years, 7%, and few others have tried to argue that that’s because the government is spending too little freshly printed dollars.
Rather, the general argument is that inflation is rising almost as quickly as Brandon’s approval rate is plummeting because the feds are spending trillions upon trillions of dollars and the Federal Reserve is pumping more and more easy money into the economy while supply chain issues limit the supply of goods available to buy with all those dollars that are sloshing around.
Whether one agrees or disagrees with that depiction of the current state of the American economy, it certainly has more backing in history and what happens when a seemingly infinite number of banknotes flood the economy than what Rep. DeLauro is pushing.
By: Gen Z Conservative, editor of GenZConservative.com. Follow me on Parler and Gettr.
This story syndicated with permission from Will – Trending Politics