Biden Claims His Multi-Trillion Dollar Spending Packages Will ‘Reduce Inflation’

uTN Social - Free Speech Social Media

President Joe Biden delivers remarks on the April jobs report from the East Room of the White House, May 7, 2021. (Jonathan Ernst/Reuters)

During a live CNN town hall Wednesday night, President Joe Biden claimed that his multi-trillion dollar spending packages will “reduce inflation.”

In response to the host’s question about whether pumping massive quantities of money into the economy will exacerbate price upticks, Biden replied, “No, no, here’s the deal. Moody’s today went out, Wall Street firm, not some liberal think tank, said if we pass the other two things I’m trying to get done we will in fact reduce inflation, reduce inflation, reduce inflation.”


“Because we’re going to be provided good opportunities and jobs for people, who in fact are going to be reinvesting that money back into all the things we’re talking about, driving down prices, not raising prices,” the president told the audience.

Biden attempted to explain away recent price increases as a temporary phenomenon related to the economy’s resurgence and growth.

“Prices are up now. For example, we’re in a position where you’re trying to build a house, trying to find two-by-fours lumber. Well guess what? People stopped working cutting lumber, they stopped doing it because the unemployment was so down. Now all of a sudden there’s this need because people are coming back and guess what? Instead of paying ten cents you’re paying 20,” he said.

NR Daily is delivered right to you every afternoon. No charge.

Get Jim Geraghty’s tour of the political news of the day.

Get Kevin D. Williamson’s newsletter delivered to your inbox each Tuesday.

A weekly digest on business and economics from an NR sensibility.

Biden’s statement at the town hall echoes similar comments he made Monday during atspeech on the state of the economy at the White House. “My Build Back Better Plan will be a force for achieving lower prices for Americans looking ahead,” he commented.

The president suggested that investments in infrastructure will rectify the supply-demand disequilibriums driving up prices in many sectors.

“If your primary concern is about inflation, you should be even more enthusiastic about this plan,” Biden said. “We can’t afford not to make these investments.”

A bipartisan infrastructure deal, a much smaller and less expensive version of Biden’s original proposal, was negotiated down to a price tag of $600 billion. A coalition of 22 Democrats and Republicans are wrapping up finalizing the bill before it will be sent for a vote to begin debate.


To obtain funding for Biden’s other legislative priorities, namely climate-change programs, health care, and child-care services, Democrats in Congress pursued the back-door budget reconciliation avenue that only requires a simple Democratic majority without any GOP support for the bill to advance in the Senate. Senate Democratic budget negotiators recently upped the value of their budget resolution to $3.5 trillion. Biden pledged in June that he would not sign the smaller-scale infrastructure compromise unless the Democrat-backed resolution was also passed, potentially bringing the spending total spearheaded by the Biden administration to nearly $4.4 trillion.

Send a tip to the news team at NR.


An Olympic Weightlifter Speaks Out on the Participation of Transgender Athletes in Women’s Sports

There are two sides to every story, and Tracey Lambrechs is here to tell the other.

Biden’s ‘Double Death Tax’

The White House is proposing what would amount to a second estate tax. The one we already have is bad enough.

American Men Suffer a Friendship Recession

American men have fewer friends than in decades past. We should dedicate time to fostering friendships. They provide an immediate and enduring reward.

Lindsey Graham Is an Idiot

Democrats are treating the infrastructure and reconciliation bills as linked, and so should Republicans and everybody else.

The Problems with Laurel Hubbard’s Qualifying for the Olympics as a Woman

The New Zealand weightlifter, who was born and competed as a male, has clear advantages over female competitors.

The Kids Are Not Alright: Chaos at the College Republican National Committee

College Republican chapters all over the country claim they are being disenfranchised by a president seeking to consolidate power.

The Latest

Louisiana Legislators Fail to Overide Veto of Bill Banning Transgender Athletes from Women’s Sports

The Republican-controlled Louisiana House secured 68 votes, falling two short of the 70 needed to overturn the veto and enact the legislation.

Judge Orders Larry Elder to Be Included on CA Recall Ballot after Election Officials Blocked Him

Elder joins a long list of Republican contenders, including former Olympian and reality TV star Caitlyn Jenner, looking to unseat Newsom in the fall.

Joint Chiefs Chairman Dodges ‘White Rage’ Question: ‘Complicated Topic’

The latest development in the “white rage” controversy surrounding General Milley.

McCarthy Vows to ‘Run Our Own Investigation’ after Pelosi Drops Republicans from January 6 Committee

The committee was supposed to have representation from both parties and was scheduled to convene for a first hearing on July 27.

Federal Judge Blocks Arkansas Ban on Gender-Transition Surgery for Minors

The ACLU sued to scrap the law in May on behalf of four transgender youths and two doctors who provide gender-transition surgeries.

Senate Republicans Block Debate on Bipartisan Infrastructure Bill over Lack of Final Text

Some Republicans reportedly support the framework but objected to opening debate before the text is finalized.

Top Stories

Get breaking news, with NR’s unfiltered reporting, delivered straight to your inbox

Most Popular

The Navy’s Debauchery Problem: An Enlisted Perspective

The Navy’s Debauchery Problem: An Enlisted Perspective

Senator Tom Cotton’s report on the service branch gets a lot right about the upper ranks, but the enlisted side remains in dire need of attention.

Democrats Keep Making Republican Collaborators Look Like Idiots

Democrats Keep Making Republican Collaborators Look Like Idiots

Republicans seem to be the only ones in Washington who don’t view the radical left-wing agenda currently split between two bills as effectively one mammoth bill.

Pelosi Rejects Two GOP Appointments to Capitol Riot Committee; McCarthy Nixes Participation in Response

Pelosi Rejects Two GOP Appointments to Capitol Riot Committee; McCarthy Nixes Participation in Response

Pelosi rejected McCarthy’s appointment of Representatives Jim Jordan and Jim Banks.

View More

Read More Feedzy

The Foxhole App - Trusted News Podcasts

Leave a Reply

Your email address will not be published. Required fields are marked *