On Thursday’s broadcast of Newsmax TV’s “Spicer & Co.,” Rep. Brian Mast (R-FL) said that the Biden administration’s economic policies are “doubly hurting the American people” because the price increases due to Biden’s policies are forcing people to put more on their credit cards to pay for things like gas and groceries, which will then cost people even more as the Federal Reserve raises interest rates.
After discussing how people are paying more for gas and groceries for inflation, Mast stated, “and then you talk about credit cards. And traditionally, the government and the Fed Reserve says, well, if we have inflation, let’s go out there and raise interest rates. But this inflation, it’s not due exactly to where the interest rates were. It’s due to the policies of the administration. So, they really are just doubly hurting the American people. Because they’re going to have to spend more at the pump, which will go on somebody’s credit card. They’re going to have to spend more at the grocery store, which will go more on somebody’s credit card. And now, their credit card bill is going to be that much higher or their mortgage or their auto payments. So, they’re really hurting them on both ends.”
Follow Ian Hanchett on Twitter @IanHanchett
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