Representative Barry Loudermilk (R-GA-11) said during a House Financial Services hearing this week that the government’s meddling in the economy and its out-of-control-spending cause the economy to crater, but Chairwoman Maxine Waters (D-CA-43) evidently disagreed.
“Let’s stop pushing the policies that are causing the problems. Out-of-control spending is causing consumer prices to skyrocket. The massive expansion of entitlements has caused millions of people to stay at home and not go to work. Hence, the supply chain catastrophe that we are currently in. There is an all-time-record of unfilled jobs, and, by the way, an economist just came out and said the reconciliation bill will cost 8 million jobs,” Loudermilk said.
“I guess that is one way of balancing out the 10 million jobs that are available, just make 8 million of them disappear. It takes care of part of it. But the outgoing majority is engaging in the very definition of insanity. They are doing the same thing over and over again, expecting different results.”
Waters asked Loudermilk if he supported government spending to help big businesses, including restaurants and airlines, after the onset of COVID-19.
Loudermilk said yes, he did support that spending.
“That was an economic issue that the government caused, therefore I did support the government providing relief to private institutions who were forced to shut their doors because of government mandates,” Loudermilk said.
Loudermilk also said that members of the political left should stop lecturing Americans to accept supply-chain problems and understaffed stores.
“In other words, the American people should lower their expectations and just accept that this administration and the outgoing majority in Congress can’t seem to get anything right,” Loudermilk said.
“The Secretary of Transportation said the shortages are because ‘the economy is good. Expecting that people are going to accept that and paying more than $3 for a gallon of gasoline is good and the inflation that we are seeing is good.’ Yeah, it may be that the people are buying, but what they are getting for what they are spending is less than it was in the previous administration. That’s clear.”
– – –