On Wednesday’s broadcast of “CNN Tonight,” New Hampshire Gov. Chris Sununu (R) predicted that “inflation is going to be very exacerbated for the next few years” because a lot of spending under the American Rescue Plan and infrastructure package hasn’t been spent yet.
Sununu said “So, look, everyone talks about the $5 trillion into the economy that has driven inflation. That’s absolutely true. There’s no doubt. What a lot of people don’t realize, I think governors and a few of us who are actually in charge of allocating those dollars and spending them, only a fraction has actually been spent. It’s all been allocated. But the actual number of checks that have been cut is very minimal. ARPA (American Rescue Plan Act) funds, all of this, that’s all designed — infrastructure, all designed to be spent into ’24, ’25, and ’26. And so, inflation is going to be very exacerbated for the next few years and the recession is going to be very real. Never in American history, in world history, do you get inflation like this not followed by a pretty severe recession. And so, that’s why you’re going to need Republicans, fiscal hawks, folks that are managers, willing to make tough decisions, to make sure that it isn’t government that comes first, it’s individuals, and that kind of opportunity at a real community level.”
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