MICK MULVANEY: It's easy to explain inflation to people, inflation is too much money chasing too few goods. I'm actually old enough to remember what inflation was like back in the late 70s and the early 80s. When we pump the system full of trillions of extra dollars, I think the last count $6 trillion extra dollars of spending this year by the federal government, we make it harder to get things to market. Not just because of COVID, but because the Biden administration is reregulating. They're undoing a lot of the things that the Trump administration did on making it easier on business, especially small business, to get goods and services to market.
More money, fewer goods and services, that is the formula for inflation. That doesn't go away just because COVID might go away, or we find a better vaccine. So, inflation is real. Democrats don't seem to care. They really want to pass this legislation because they know if they can pass it one time it's really hard to undo in the future.
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