Office of Management and Budget Director Shalanda Young spoke to the Senate Budget Committee on Joe Biden’s $6.8 trillion budget, and it didn’t do much to inspire faith in the administration’s non-existent economic literacy.
When asked if big spending causes inflation by Senator Rick Scott, Young tried to change the question and pitch inflation as a “global phenomenon.” And it is true that inflation is a global phenomenon in the COVID and post-COVID-era - because other countries also printed and spent a ton of money just like we did. That it’s a global phenomenon at the moment is a confirmation of what Sen. Scott asked, not a contradiction of it.
“I don’t believe that one thing causes inflation” Young added about the phenomenon that only requires one thing to usually occur (increasing the money supply).
When asked if she believes that the Biden budget reduces debt, Young said that it “focusses on the deficit, which has an impact on the debt” immediately before admitting that of course his budget doesn’t reduce the national debt. Young seems to have been at least trying to present a potential reduction in the rate of increase of the national debt as a reduction in the national debt, which are hardly the same thing.
When asked if the budget balances, Young replied “no, because we believe that hurts working families.”
So within seconds, Young went from pitching debt reduction to admitting that there’s no debt reduction, to informing us that debt reduction would actually be bad for working families.
And it didn’t get much better from there.
Watch below:
Matt Palumbo is the author of Fact-Checking the Fact-Checkers: How the Left Hijacked and Weaponized the Fact-Checking Industry and The Man Behind the Curtain: Inside the Secret Network of George SorosDon't miss the Dan Bongino Show
