Kennedy: Biden Admin ‘Really Playing with Fire’ on Build Back Better

Inflation is a significant concern for Sen. John Kennedy (R-LA).

During an appearance on FNC’s “Your World,” the Louisiana lawmaker warned about the threat inflation posed to the American economy and the limited ability policymakers have to respond to that inflation.

“We have got a problem, a big problem, with inflation,” he said. “I know President Biden’s economists say that COVID caused inflation. And I agree with them that inflation is spreading. But, as one commentator put it last week, people aren’t walking around coughing inflation on each other. Inflation is caused by too much money chasing too few goods. It’s caused, in this case, by the breathtaking spending and borrowing by the federal government.”

“It’s going to require our Federal Reserve to raise interest rates much, much sooner than we thought,” Kennedy continued. “I’m really worried about the impact of that on our economy. We don’t have a choice. We have got to control inflation because it’s a tax on all of us. But, on the other hand, I don’t want an interest rate class to throw us into a recession. And I’m biased.”

Host Neil Cavuto referred to the Biden administration’s claim the so-called Build Back Better legislation would tamp down on inflation, which Kennedy dismissed.

“[I] think Build Back Better will cause a massive increase in inflation,” he added. “I mean, it’s — the bill is breathtaking, Neil, in its scope. It’s $5 trillion. It’s $3 trillion of borrowing, $2 trillion of new taxes. I think the administration is really playing with fire here.”

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