By EJ Antoni | The Heritage Foundation
You’re paying more for food because Congress refuses to control its spending. That was the testimony I recently gave before a Senate committee, but the committee chair, Sen. Elizabeth Warren, refused to believe the evidence presented. Her plan is not to reduce government spending, but to drive your food prices even higher.
Ms. Warren, Massachusetts Democrat, and many other politicians are to blame for the inflation that has ravaged the American people over the last three years. Our representatives in Congress, along with President Biden in the White House, spent trillions of dollars we didn’t have—and that money had to come from somewhere.
It’s coming out of your wallet right now, through the hidden tax of inflation.
To finance the stratospheric federal deficits of the last several years, the Federal Reserve essentially created the money for the Treasury to spend. At first, that seems like a win-win scenario: The politicians can spend trillions of dollars, and the people don’t have to pay a commensurate amount of taxes.
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