President Joe Biden's administration and Democrats, rather than working to curb spending after the second economic decline this year, are pushing to spend even more money "when they've already spent trillions," Rep. Pat Fallon told Newsmax on Friday.
"What Joe Biden is doing now, and the Democrats, is they're tripling and quadrupling down and saying, 'you know what we'll do to get us out of this? We're going to raise taxes, and then we're going to spend another $433 billion, with a B, billion dollars when they've already spent trillions," the Texas Republican said on Newsmax's "Wake Up America."
But what works is unleashing the private sector, cutting taxes, and cutting spending in Washington, D.C., Fallon said.
"You know they've never had a revenue problem," he said. "They have a spending problem."
Thursday, the Commerce Department announced a 0.9% drop in the nation's gross daily product for the second quarter of the year, following a 1.6% drop in the first quarter, marking two consecutive quarters where the numbers have dropped.
However, while such drops are "by every definition" a depression, the mainstream media "wants to be apologists for the Biden regime," said Fallon.
"In the 10 times this has happened since World War II we've had two consecutive quarters of negative GDP growth, and every single time before, it was [called] a recession," said Fallon. "Magically now, it's not. How do we get here with massive trillions of dollars of spending injected into the economy, causing inflation? We have folks at the wheel that are either asleep at the switch or completely incompetent."
Further, the administration and Democrats "don't understand how to deal with the supply chain crisis, and they don't understand that when you inject a lot more money, there's going to be a scarcity of goods and services," Fallon said. "The prices will go up, and the economy is going to suffer."
Americans, meanwhile, are suffering, he added.
"Every household is making on average $5,000 less a year," Fallon said. "They're paying $2,000 more for gasoline, which year over year is going up 60%. Remember before Joe Biden took office incidentally price of gas was $2.39 a gallon. Wouldn't that be wonderful?"
Energy prices are also up by 42%, said Fallon, as well as food staples like eggs by 33%, coffee by 16%, chicken by 19%, and bacon by 12%.
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Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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