Republicans Are Addressing the Major Crises

Floor Speech

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Mr. HILL. Mr. Speaker, I thank my friend and appreciate him calling us together tonight to talk about the mistakes that President Biden is making, the crises that his policies are brewing across a number of areas.

Tonight, I rise, Mr. Speaker, to address the state of our economic future.

In the wake of the COVID-19 pandemic, Congress came together last year on a bipartisan basis and targeted relief to provide for families and hardworking Americans.

Now, as vaccines are distributed and Americans are returning to work, the Biden administration is spending an unprecedented amount of money in an untargeted way. Six trillion dollars, Mr. Speaker, and $6 trillion of deficits for 10 years to come. They are funding a manic, untargeted wish list that, in my view, is going to impoverish our kids and grandkids and contribute to too many dollars chasing too few goods.

When you combine this fiscal policy with the Federal Reserve buying of $120 billion of Government debt every month, you are brewing inflation, Mr. Speaker. In my view, inflation is just a tax on hardworking Americans trying to save for retirement, trying to save money for kids in college, trying to buy the necessities of gas, food, build a new home, add onto a home; and this inflation is a tax on working Americans. Joe Biden and his illiterate economic policy, both in monetary policy and fiscal policy, are contributors.

Mr. Speaker, Republicans have a better way. We have a better way to target spending, balance our budget, and not impoverish our kids and grandkids. If Republicans take this House back, Mr. Speaker, we will get our economic house in order.

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