Dan Burton: “And when we start having inflation like that, the cost of doing…”

On the recordFebruary 11, 2009

And when we start having inflation like that, the cost of doing business, the cost of buying products, everything goes up, goes right out the window. Now they're talking about putting trillions of dollars back into this economy, and it's going to be borrowed money. It's going to be borrowed from the taxpayers. And a lot of that is going to have to be printed, which means we're going to have more and more dollars in circulation, so we're going to have very high inflation, and some people believe it will be hyperinflation. I would just like to say to my colleague that back in the 1970s, when Jimmy Carter was President, we had the same identical problem, only worse. And back then, the inflation went to 14 percent. Unemployment went to 12 percent.

Said by

Dan Burton

Indiana

Source

govinfo.gov

Editor's note · Context

Discussing the potential economic impact of increased money circulation and inflation.

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Dan Burton: “And when we start having inflation like that, the cost of doing business, the cost of buying products, everything goes…”

Editor's note · Context