Representative Adam Schiff (D-CA) said Sunday on CBS’s “Face the Nation” that Republicans in Congress refused to address inflation because they want to have it as an issue in the midterm elections.
Partial transcript as follows:
BRENNAN: I want to ask you about inflation, which is a problem throughout the country. The San Francisco Fed said that the American Rescue Plan contributed about three percentage points to inflation. It’s not the primary driver, but a contributor to it. In hindsight, do you think Democrats should have structured that $2 trillion package differently? Should it have been smaller?
SCHIFF: No, I don’t think so. And of course, there have been other studies that have reached the- the opposite conclusion that it had an even more minimal impact on inflation. What I do think is the cause–
BRENNAN: –It’s a non-political group, you know that.
SCHIFF: Well, no, I understand that. But again, there are studies that show that it had a negligible impact on inflation as well that are also very credible. I think the- the reality is though, and this- this I think is borne out by all the evidence, is there was a global inflationary pressure, global problem with supply chains. Our economy, in fact grew so fast the in United States that that problem is particularly acute, because the demand when we emerged, you know, so quickly from the pandemic, and grew so many jobs, the- the disparity between that demand, and the supply was so pronounced this to lead to this inflation. But people are suffering from it. We’ve got to attack it in every way we can. I think, sadly, the Republicans are getting in our way, because they would rather have the issue of inflation, then really do something about it to help the country and this is what we’re confronting in Congress, and what the administration is battling against.
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