Federal Reserve Chairman Jay Powell this week blamed inflation numbers on the continuing supply-side issues, but Rep. Pete Sessions told Newsmax Saturday that the real problem is congressional Democrats and their insistence on spending billions of dollars and for creating "favorable conditions for us to have inflation."
"Jay Powell, I think, is doing a great job and I need to say that because we need his sort of philosophy, but we're failing to talk about what the real problem is, and that is that the politics and the philosophy behind this administration and the Democratic Party," the Texas Republican said on Newsmax's "America Right Now."
Powell, while calling for an end to the term "transitory inflation" while speaking to a Senate committee said the disruptions to the supply chain had not been anticipated and were not factored into inflation predictions initially.
But Sessions commented that Democrats want to add conditions that are favorable to continued inflation, including keeping people away from the workplace and calling for a $1.75 trillion spending plan through the Build Back Better Act.
"Adding $110 billion from the Fed to the economy every month to keep it floated" is also favorable to inflation and to "making sure it stays," Sessions added.
Meanwhile, Democrat lawmakers, when pressed about the concerns that spending another $1.75 trillion on social programs through the bill will lead to more debt and inflation, say that "we need to be oriented on people and people's needs," said Sessions.
"On the other hand, they want to talk about building our infrastructure and making these changes to add jobs and to our economy," said Sessions. 'But they are creating a permanent circumstance where people would not come to work and where people would rely on the government."
And in this case, he added, "the government is willing to pay," but the cost is being embedded into inflation and permanent long-term unemployment.
"This is bad for the nation," Sessions said. "Ultimately a very small number of people are paying for those folks that are staying home or are trapped in a cycle of government dependency."
Meanwhile, Sessions said the administration is making several politically driven decisions on the potential spread of the omicron coronavirus variant.
"We must know that if we fall victim to this, we will lose the enterprise system," said Sessions. "We will lose our desire and our ability to prepare for what lies around the corner. I think the very best effort that I have seen means that there will be changes. There will be new variants, but what we need to do is to take the vaccine if you choose to, and to avoid government that's big enough to tell people what to do."
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