×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: buddy carter | economy | recession | jobs report

Rep. Carter to Newsmax: Recession Is On, Despite Jobs Reports

Rep. Buddy Carter, R-Ga. (Roberto Schmidt/Getty Images)

By    |   Friday, 05 August 2022 11:01 AM EDT

Americans understand the United States is in a recession, whether or not the jobs reports are good, Rep. Buddy Carter told Newsmax on Friday.

"So regardless of what the jobs report says, we are in a recession, and the American people are feeling this," the Georgia Republican said on Newsmax's "Wake Up America." "Spending is down, wages are down, gas is up, inflation is up."

Carter's comments came just before the government released its jobs report Friday showing employers added 528,000 jobs in January, despite the growing anxiety of a recession and inflation that is still growing. The unemployment rate has dropped to 3.5%, and the hiring was up from 398,000 in June.

The Biden administration has been celebrating a drop in gas prices, down to a national average of $4.11, but Carter said that's no reason to "be happy."

"I just left Portland, Oregon, and it was $5 a gallon there," said Carter. "I don't know how this administration can possibly think that people are satisfied with gas being at $4.11 … we've got to unleash our energy independence."

Carter further commented on the Democrats' push for the White House's Inflation Reduction Act, saying that the spending it involves and its taxes will "literally put fuel on the fire."

"This is the worst thing that we can do. You do not raise taxes during the recession," said Carter. "You cannot spin your way out of this recession. You cannot spin your way out of inflation."

Even worse, if the parliamentarian approves language on drug pricing that is included in the bill, "this is going to be one of the worst things that could possibly happen to research and development here in America," said Carter, who is also a pharmacist.

"As a pharmacist, I can tell you that's my biggest fear," he said. "The economic part, that's awful. It makes no sense whatsoever, but I am very, very concerned about this prescription drug pricing that they're trying to pass here. This is not the way that we should do it. This will kill research and development in our country."

In addition to a cap on out-of-pocket spending, the proposed legislation will create a massive shift for cost management liability during the catastrophic phase in Medicare's Part D benefit, reports Forbes.

Research and development are vital and must be protected, said Carter, as "we've got so many diseases in this country that need to be addressed. An example is Alzheimer's. If we do not find some cures for Alzheimer's, the price we're going to have to pay for this in the future is going to be enormous."

He added that as a pharmacist, he's seen "nothing short of miracles" coming from research and development on medications, and said it's vital for that to keep happening, "not only for our good here in the United States, but for the good of the world … yes, the drug manufacturers need to do a better price and better job with their pricing. But at the same time, we cannot kill research and development."

© 2022 Newsmax. All rights reserved.


Newsmax-Tv
Americans understand the United States is in a recession, whether or not the jobs reports are good, Rep. Buddy Carter told Newsmax on Friday.
buddy carter, economy, recession, jobs report
510
2022-01-05
Friday, 05 August 2022 11:01 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved