WATCH: Sen. Kennedy: Americans More Concerned About ‘Joe-flation’ Than Ukraine, Says Biden Causing Out of Control Government Spending

Republican Louisiana Senator John Kennedy​ had plenty to say about government spending money when he addressed inflation at the Senate GOP press briefing on Wednesday.

Senator Kennedy began “If many Americans won the lottery tomorrow, the first thing they would do is fill up their gas tank. I’m not sure that President Biden understands that. The Biden administration claims that they are for the little gal or the little guy but they sure don’t seem to like them very much. I can’t image a more pernicious tax than inflation. This inflation which has characteristics of more demand-pull and cost-push inflation is a direct result of President Biden’s economic policies.”

“We can’t force the members of the Biden administration to retake Econ. 101,” Kennedy continued.

“But we can do our part by stopping spending like we were drunken sailors. Actually, we’re worse than drunken sailors because drunken sailors stop spending when they run out of money, and Congress doesn’t.”

In continuing, Senator Kennedy said, “President Joe Biden has linked inflation to COVID-19, unemployment and ‘greedy businessmen and women.'” Kenney than concluded, “I expect the president to say at some point that inflation ‘originated in a bat.'”

Obviously, Senator Kennedy’s statement was based on numbers like these: The Consumer Price Index,(CPI) rose 0.6% in January, marking a 7.5% increase on a year-to-year growth basis. Food prices rose 7.0% and energy prices by 7.5%.

Consumer prices also soared by 7.5%, a 435% increase from the previous year and largest increase since February, 1982. The average gas price currently stands at about $3.50 per gallon, $1.00 higher than in 2021, according to AAA Gas Prices.

According to the U.S. Joint Economic Committee, “An increase in government spending could possibly lead to demand-pull inflation by simultaneously increasing consumer demand and taxes which could lead businesses to reduce hiring and investments. The large amount of spending on programs will risk “reduced economic output higher, higher interest payments, lower national income, rapid inflation, and even a debt crisis.”

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