{"id":1708000,"date":"2022-10-23T08:03:02","date_gmt":"2022-10-23T12:03:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1708000"},"modified":"2022-10-23T11:20:05","modified_gmt":"2022-10-23T15:20:05","slug":"republicans-warn-inflation-will-get-worse-as-biden-admits-a-lot-of-democrat-spending-impact-has-not-kicked-in-yet-2","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republicans-warn-inflation-will-get-worse-as-biden-admits-a-lot-of-democrat-spending-impact-has-not-kicked-in-yet-2\/","title":{"rendered":"Republicans Warn Inflation Will Get Worse as Biden Admits \u201cA Lot\u201d of Democrat Spending Impact \u201cHas Not Kicked in Yet\u201d"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">40<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frepublicans-warn-inflation-will-get-worse-as-biden-admits-a-lot-of-democrat-spending-impact-has-not-kicked-in-yet-2%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1708000&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>President <a href=\"https:\/\/www.theepochtimes.com\/t-joe-biden\">Joe Biden<\/a> said Friday that much of what the Democrats have done in regard to the economy will kick in with a lag, reinforcing GOP claims that <a href=\"https:\/\/www.theepochtimes.com\/t-inflation\">inflation<\/a> will get worse as some of the inflationary impacts of the administration\u2019s big spending bills have not yet fully filtered into the economy.<\/p>\n<p>Biden made the remarks in\u00a0a sit-down interview with\u00a0<a href=\"https:\/\/www.msnbc.com\/the-reidout\/watch\/president-biden-vows-to-protect-women-s-right-to-choose-if-gop-takes-control-of-congress-151266373724\">MSNBC\u2019s Jonathan Capehart<\/a> in at Delaware State University after being asked to comment on polls showing Americans trusting Republicans over Democrats on economic matters.<\/p>\n<p>\u201cA lot of what we\u2019ve done and we\u2019ve passed has not kicked in yet. For example, we have all this money to rebuild the highways, bridges, Internet, etc., but it\u2019s going to take time,\u201d Biden said. \u201cIt\u2019s not all happening overnight.\u201d<\/p>\n<p>A recent <a href=\"https:\/\/www.cnbc.com\/2022\/10\/20\/gop-holds-big-leads-on-key-economic-issues-ahead-of-the-november-elections-cnbc-survey-shows.html\">CNBC poll<\/a> gave Republicans double-digit leads over Democrats on key economic issues as the midterm elections loom. The biggest difference was on inflation, with 42 percent saying the GOP would do a better job of bringing down inflation, compared to 27 percent indicating Democrats, a 15-point difference.<\/p>\n<p>Republicans have said that the Democrats\u2019 big spending packages would fuel inflation, with some of the effects still to be felt.<\/p>\n<h2>\u2018Only a Fraction Has Actually Been Spent\u2019<\/h2>\n<p>New Hampshire Gov. Chris Sununu recently warned that inflation is going to stay high for years due to lagged impact of government spending.<\/p>\n<p>\u201cEveryone talks about the $5 trillion into the economy that has driven inflation, that\u2019s absolutely true, there\u2019s no doubt,\u201d Sununu said.<\/p>\n<p>\u201cWhat a lot of people don\u2019t realize, I think governors and a few of us who are actually in charge of allocating those dollars and spending them, only a fraction has actually been spent. It\u2019s all been allocated. But the actual number of checks that have been cut is very minimal,\u201d the governor continued.<\/p>\n<p>\u201cARPA [American Rescue Plan Act] funds\u2014all of this\u2014that\u2019s all designed\u2014infrastructure, all designed to be spent into 2024, 2025, and 2026. And so, inflation is going to be very exacerbated for the next few years, and the recession is going to be very real,\u201d he added.<\/p>\n<p>After government data showed inflation in September\u00a0<a href=\"https:\/\/www.theepochtimes.com\/us-inflation-remains-persistently-high-at-8-2-percent-fueled-by-high-rent-and-food-prices_4793595.html\" target=\"_blank\" rel=\"noopener\">came in at<\/a>\u00a08.2 percent in annual terms,\u00a0Rep. Jason Smith (R-Mo.), the top Republican on the House Budget Committee,\u00a0pointed to\u00a0the American Rescue Plan as one of the reasons Americans \u201care feeling the sticker shock of rising prices every time they visit the grocery store or the gas station.\u201d<\/p>\n<p>Smith said that under Biden, spending has increased by around $10 trillion.<\/p>\n<p>\u201cAmericans are fed up with paying the price for one-party Democrat rule in Washington. In two years, Democrats have added $10 trillion in new spending and left taxpayers holding the bag,\u201d he\u00a0<a href=\"https:\/\/republicans-budget.house.gov\/press-release\/smith-americans-are-fed-up-with-unaffordable-democrat-one-party-rule\/\" target=\"_blank\" rel=\"noopener\">said in a statement<\/a>.<\/p>\n<p>Smith\u2019s breakdown for the\u00a0<a href=\"https:\/\/republicans-budget.house.gov\/press-release\/fact-sheet-the-cost-of-one-party-democrat-rule\/\" target=\"_blank\" rel=\"noopener\">spending tally<\/a>\u00a0includes over $1 trillion on Biden\u2019s executive actions and $745 billion on the so-called Inflation Reduction Act.<\/p>\n<p>It\u2019s not just Republicans that have said that the Biden administration\u2019s and congressional Democrats\u2019 policies have fueled inflation. House Speaker\u00a0Nancy Pelosi\u00a0(D-Calif.) <a href=\"https:\/\/www.theepochtimes.com\/pelosi-admits-inflation-partly-caused-by-bidens-policies_4806026.html\">said recently<\/a> that part of what\u2019s behind the sky-high\u00a0inflation\u00a0gripping American households is due to Biden\u2019s\u00a0policies on job creation.<\/p>\n<p>Pelosi said during an Oct. 18 broadcast of MSNBC\u2019s \u201cAndrea Mitchell Reports\u201d that \u201csome\u201d of the inflation in the United States came from \u201cthe fact that this president created\u201d millions of jobs.<\/p>\n<p>\u201cOf course, we want to fight inflation. It\u2019s a global issue,\u201d Pelosi said responding to a question about the cost-of-living crunch squeezing American households.<\/p>\n<p>\u201cBut some of the inflation in our country sprang from the fact that this president created nearly 10 million\u2014at least 9 million jobs working with the private sector,\u201d she added.<\/p>\n<p>A poll from The Economist\/YouGov taken between Oct. 16\u201318 (<a href=\"https:\/\/docs.cdn.yougov.com\/ez0xfzdbfl\/econtoplines.pdf\">pdf<\/a>) found that 53 percent of Americans disapprove of the job Biden is doing on the economy, while 38 percent approve.<\/p>\n<p>The poll also found that 66 percent of Americans think that, over the next six months, inflation will stay stuck at the current elevated level of 8.2 percent or get even worse.<\/p>\n<p>Half of the respondents said they\u2019ve felt the impact of high inflation on their lives \u201ca lot.\u201d<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-tom-ozimek\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/WEB_TomOzimek-_1.jpg\" alt=\"Tom Ozimek\" \/><\/a><\/p>\n<p>Follow<\/p>\n<\/div>\n<p>Tom Ozimek has a broad background in journalism, deposit insurance, marketing and communications, and adult education. The best writing advice he&#8217;s ever heard is from Roy Peter Clark: &#8216;Hit your target&#8217; and &#8216;leave the best for last.&#8217;\n<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden said Friday that much of what the Democrats have done in regard to the economy will kick in with a lag, reinforcing GOP claims that inflation will<\/p>\n","protected":false},"author":1,"featured_media":1696806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1708000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1708000","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1708000"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1708000\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1696806"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1708000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1708000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1708000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}