Political Quotes

“I would like to start my remarks by going back to nearly the very beginning of this Congress, when we were debating what was called the American Rescue Plan. We were told then by our colleagues on the other side that this was going to save the country: $1.9 trillion of debt-financed spending, they said, was going to fix everybody's concerns in the United States. Where are we today? A 9.1-percent consumer price inflation, which we told them was coming; gas prices doubling; economic stagnation; GDP contracted by nine-tenths of a percent in the second quarter. We are now arguing over semantics about what is a recession. Sixty-five percent of the people in this country think we are already in a recession, and more than 80 percent of the country think our economy is on the wrong track. The nonpartisan Penn Wharton Budget Model has made a comment about what we are looking at today, but what are we being told today? Another rescue plan, only this time they call it the Inflation Reduction Act. The Penn Wharton Budget Model says this bill will, if anything, raise inflation in the first few years of this budget, with a small and significant negative effect later in this decade. That same model concludes that there is ``low confidence that the legislation will have any impact on inflation.'' But it does have an impact on all of us and our economy.…”