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Dems Dismiss Inflation Fears

Economy And Jobs,Economic Policy,Inflation,Infrastructure,Banking And Finance

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Analysis

President Joe Biden and congressional Democrats are dismissing concerns over skyrocketing inflation, saying trillions of dollars on social programs and alternative energy projects should be passed regardless of the price tag.

Sen. Brian Schatz (D., Hawaii) said Monday a "serious inflation problem" would not change his party's plan to push forward with a multitrillion-dollar spending package. The Democrat argued that voters would rather fight climate change than address rising consumer prices.

"It is hard to argue that 50 years from now the question will be how did this Congress manage transitory inflation," Schatz told NBC News. "The question that everyone's going to be looking at 50 years from now is did we address the planetary crisis when we could or did we not."

The Hawaii liberal's comments came after a National Republican Congressional Committee poll found 70 percent of swing-district voters are "extremely or very concerned" about "rising prices and the higher cost of living." Like Schatz, however, Biden has remained undeterred, asserting during a town hall last week that Democrats' $3.5 trillion infrastructure proposal "will in fact reduce inflation, reduce inflation, reduce inflation." 

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