Rep. Adam Schiff (D-CA) said on CBS’ “Face the Nation” on Sunday that Republicans in Congress have refused to tackle inflation because they want to have it as a problem in the midterm election. -mandate.
Partial transcript as follows:
BRENNAN: I want to ask you about inflation, which is a problem across the country. The San Francisco Fed said the US bailout contributed about three percentage points to inflation. It is not the main engine, but a contributor. Looking back, do you think the Democrats should have structured this $2 trillion package differently? Should it be smaller?
SCHIFF: No, I don’t think so. And of course, there have been other studies that have come to the opposite conclusion that it has an even more minimal impact on inflation. What I think is the cause –
BRENNAN: – It’s an apolitical band, you know that.
SCHIFF: Well, no, I understand that. But again, there are studies that show this has had a negligible impact on inflation and are also very believable. I think the – the reality is though, and this – I think that’s borne out by all the evidence, is that there was global inflationary pressure, a global problem with supply chains. Our economy, in fact, has grown so fast in the United States that this problem is particularly acute, because the demand when we came out, you know, so quickly from the pandemic, and created so many jobs, la- la disparity between this demand, and supply has been so pronounced that it has led to this inflation. But people suffer from it. We must attack it in every possible way. I think unfortunately the Republicans are getting in our way, because they’d rather have the inflation problem and then really do something to help the country and that’s what we’re up against in Congress , and what the administration is fighting against.
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