The Inflation Crisis

Floor Speech

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Mr. GROTHMAN. Madam Speaker, we just got back from our home districts, and we all heard different things, but I am sure I talked to dozens, maybe over 100, people over the weekend. The number one topic of concern is inflation.

In particular, I ran across someone whose house sold for probably 50 percent more than I would have thought that house would sell for a year-and-a-half ago. I am sure it was good for the person who sold the house, but I feel so sorry for young people today.

Now, why is the cost of housing up so much? The same reason the cost of gas is up and the same reason the cost of food is up. It is because we have a greatly increased money supply.

I encourage all Americans to get on your computers, look at M2 and M1, measure of the monetary supply. That is not something that has anything whatsoever to do with the war in Ukraine. It is simply overspending on the part of this Congress.

The American Rescue Plan Act, the first big spending act of the new administration, is one of the most fiscally irresponsible things I have ever seen.

But I encourage all Americans, when you talk to your Congressman, tell them: ``Government is big enough. Please don't spend any more.''

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