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Tags: Biden Administration | Exclusive Interviews | Financial Markets | Infrastructure | Joe Biden | National Debt | Newsmax TV

Rep. Jim Jordan to Newsmax: Biden Spending Is 'Arrogance, Bad Policy'

(Newsmax's "Stinchfield")

By    |   Tuesday, 19 October 2021 10:30 PM

Rep. Jim Jordan, R-Ohio, told Newsmax if the two spending bills totaling $5 trillion pass, it would be a "recipe for disaster."

Appearing on "Stinchfield," Jordan alludes, in light of the inflation already present in the United States economy, it could make matters worse if the spending bills pass.

"The arrogance coupled with the bad policy," Jordan says, alluding to the Biden administration, "and now we might get a $5 trillion spending package that is a complete recipe for disaster. But that's where we're headed under this administration because, frankly, they haven't done one thing right."

But according to White House press secretary Jen Psaki, supply chains are now moving, and wages are up.

"And one of the reasons that there has been so much traffic in a lot of these ports," Psaki says, "is because there are more goods that are being ordered by people across the country — people who have more money, expendable resources. Their wages are up. More people are working than they were a year ago."

Although wages might be up, Jordan cites "real wages," when inflation is accounted for, are down.

"Look, real wages are actually down because inflation is at a record high, and The Wall Street Journal just did a piece where 4.3 million workers are no longer in the workforce," Jordan said. "They permanently left because when . . . you pay people not to work, you shouldn't be surprised when you can't find workers. When you tell people, they can't be evicted, you shouldn't be surprised when they quit paying their rent. So the Biden administration's economic policy is lockdown your economy, spend like crazy, pay people not to work, and then for the people who are working and who are paying their rent, 'oh, by the way, we're getting ready to raise your taxes in this $5 trillion monstrosity of a package.'"

Jordan concluded, maintaining the only two people who could stop the spending packages from passing are moderate Sens. Joe Manchin, D-W.Va., and Kyrsten Sinema, D-Ariz. The deadline to pass the two spending packages is Oct. 31.

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Rep. Jim Jordan, R-Ohio, told Newsmax if the two spending bills totaling $5 trillion pass, it would be a "recipe for disaster."
inflation, spending, wages, senate, budget reconciliation, joe manchin, kyrsten sinema
433
2021-30-19
Tuesday, 19 October 2021 10:30 PM
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