Posted BY: Daily Caller
Democratic Rep. James Clyburn of South Carolina claimed during a Thursday MSNBC appearance that the Biden administration and Congressional Democrats knew some of their moves would spur inflation.
“All of us knew this would be the case when we put in place this recovery program. Any time you put more money into the economy, prices tend to rise. And we do know that price gouging takes place and that’s what Senator Warnock is concerned about in Georgia,” Clyburn told host Jose Diaz-Balart. “We knew the moment we went to aid the Ukrainians, the Russians would do what they could possibly do to undercut this administration, so they cut this deal with OPEC nations to reduce the production of oil so as to drive the price of gasoline up.”
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President Joe Biden signed the American Rescue Plan, which had $1.9 trillion in spending, into law in March 2021. Biden signed the Inflation Reduction Act, which largely consists of green energy programs, healthcare spending, and a massive increase in funding for the Internal Revenue Service, into law in August 2022.