Politics

President Biden pushes back on inflation fears ahead of vote on infrastructure package

by on

More in Politics:

President Biden on Monday pushed back on inflation fears, by insisting that his policies will create a strong economy and that the higher costs will only be short-term.

Biden stated “There’s nobody suggesting there’s unchecked inflation on the way, no serious economist. That’s totally different — I mean, look, the stock market is higher than it has been in all of history, even when it was down this month. Even down this month.” While president Biden is pushing for his infrastructure bill and policies which are currently making its way through congress, he made the argument that the inflation is temporary and are a result of supply chain challenges after the pandemic.

President Biden also addressed the concerns of the $4 trillion+ additional government spending stating “If we increase the availability of quality, affordable child care, elder care, paid leave, more people will enter the workforce. These steps will enhance our productivity, raising wages without raising prices. That won’t increase inflation. That will take the pressure off of inflation, if your primary concern right now is inflation, you should be even enthusiastic about this plan.”

While president Biden is pushing for his infrastructure bill and policies which are currently making its way through congress, he made the argument that the inflation is temporary and are a result of supply chain challenges after the pandemic. President Biden also addressed the concerns of the $4 trillion+ additional government spending [Axios].

“If we increase the availability of quality, affordable child care, elder care, paid leave, more people will enter the workforce. These steps will enhance our productivity, raising wages without raising prices. That won’t increase inflation. That will take the pressure off of inflation, if your primary concern right now is inflation, you should be even enthusiastic about this plan,” Biden said.

President Biden did not talk about the amount of questions that went unanswered about the bill even though the deadline on it has been set for Wednesday by Senate majority leader Chuck Schumer. Republican negotiator Senator Rob Portman made his issues with the plan clear when he stated “We shouldn’t have an arbitrary deadline of Wednesday. We should bring the legislation forward when it’s ready… it’s got to be done in a thoughtful, bipartisan way. We don’t want to rush this process or make mistakes.” Senator Bill Cassidy stated “We can get it done, but if they refused to cooperate on the pay-Ford, it’s not going to pass. They know that” [ABC].

ARTICLE: AANAND MAHATO

MANAGING EDITOR: CARSON CHOATE
PHOTO CREDITS: YAHOO NEWS

The following two tabs change content below.

Aanand Mahato

I am a junior from NYC, New York. I run the Instagram page @redhatrepublican and it was through there where I got involved with writing for FBA. I write my articles with the focus of being as unbiased as possible, and hope to inform people correctly on current issues

I am a junior from NYC, New York. I run the Instagram page @redhatrepublican and it was through there where I got involved with writing for FBA. I write my articles with the focus of being as unbiased as possible, and hope to inform people correctly on current issues

Leave a Reply