Dem Rep. Carter: Inflation’s Impact ‘Will Be Eased’ by ‘Pumping Money’ to Stimulate Economy

On Thursday’s broadcast of the Fox Business Network’s “Cavuto: Coast to Coast,” Rep. Troy Carter (D-LA) argued that the impact of inflation on people “will be eased when we start to invigorate our economy, and we invigorate our economy by pumping money into it to stimulate it.”

Carter disagreed with [relevant remarks begin around 3:15] “the notion that somehow the Build Back Better or the infrastructure plan will negatively impact inflation,” because there have been “several Nobel Peace Prize economists who vehemently disagree with that. Listen, when people make more money, they spend more money. When you make money, it doesn’t just go into a black hole in your backyard. It goes into the stores, it goes into school, it goes into homes and cars and providing better lives for our children. So that money that’s in –.”

Host Neil Cavuto then cut in to ask Carter how he would respond to people who have lost purchasing power even though their wages have gone up.

Carter responded, “I think you tell them that they need to get on the phone, they need to call their members of Congress. I think you tell them to get on the phone and call their senators. Because we’re –.”

Cavuto then cut in to ask if that will ease inflation’s bite.

Carter answered, “No. The inflation bite will be eased when we start to invigorate our economy, and we invigorate our economy by pumping money into it to stimulate it. It’s not unlike anything that we’ve done before, except the magnitude of the dollars that we’re putting in with Build Back Better and infrastructure are life-changing and unprecedented. And most economists — I mean, there will be some that obviously disagree, you and I may disagree, but from my vantage point and the economists that I’ve looked at and listened to suggest that the money that we’re putting in, we’re not talking about Bs, we’re talking about Ts, trillions of dollars for infrastructure, for housing, for rail, for [the] environment, these are all things that’s going to pay dividends for years and years to come.”

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