Political Quotes

“This morning we are here to talk about the rule for the CHIPS Act to provide $76 billion for semiconductor manufacturing and authorizing $200 billion over 10 years for research and innovation programs. Now, according to a long-term budget outlook released by the Congressional Budget Office just yesterday, our national debt sits at $24 trillion and will rise to $138 trillion over the next three decades. That is equivalent to $370,000 for every man, woman, and child in the United States. Our mandatory spending over the same period would grow from just over $4 trillion per year to over $18 trillion per year. The CHIPS Act includes billions in new mandatory spending and billions more that is authorized for appropriation. We are experiencing the highest inflation in 40 years with multiple interest rate hikes. It has been widely reported that the Federal Reserve hiked interest rates again and with the statement that they have no choice but to try to slow the economy in order to tame this inflationary pressure. And then here is the ironic part of all that, the CHIPS bill also is the key that unlocks the door for getting the long-stalled Build Back Better Act going over in the United States Senate. And what does that do? It provides billions of additional dollars of stimulus spending in the economy. But the Federal Reserve said they have no choice but to slow the economy. So which is it? Is it a stimulant or a depressant?…”