During a Thursday MSNBC interview, James Clyburn, a Democratic Representative from South Carolina, claimed that the Biden administration was aware of some of their moves to spur inflation.
We all knew that this would happen when we created the recovery program. Prices tend to rise when you invest more money in the economy. We know price gouging happens, and that’s why Senator Warnock is worried about Georgia,” Clyburn said to Jose Diaz-Balart. “We knew that the Russians would try to undermine this administration as soon as we tried to help the Ukrainians. So they made this deal with OPEC countries to cut oil production so that gasoline prices could rise.”
In March 2021, President Joe Biden signed into law the American Rescue Plan. It had $1.9 trillion of spending. Inflation Reduction Act was signed by Biden in August 2022. It mainly consists of green energy programs and healthcare spending.
After rising 8.3% in August and 9.1% in June, the Consumer Price Index rose 8.2% in September. It had risen by 8.3% in July, 8.6% in August, 9.1% in June, and 8.5% in May. Democrats and the Biden administration blame Russian President Vladimir Putin for high gas prices. However, experts say that President Biden’s hostility to fossil fuel production is to blame.
Clyburn stated that “We will not allow these types of intimidations by big, corporate price risers when they shouldn’t be, or foreign countries doing untoward actions in retaliation to our assisting our alliances that aren’t going to trump, and this is an intended pun. There are our concerns for people getting back on the ground in this country, getting cash in peoples’ hands, getting people back into work, fixing our infrastructure,” Clyburn added.
The Daily Caller News Foundation asked for comments from the White House but they did not respond immediately.