During a Sunday appearance on CBS’ Face The Nation Speaker of the House Nancy Pelosi suggested the cost of living was a larger threat than inflation.
Pelosi made it clear she was “very confident” Democrats would maintain control of the House and Senate after the upcoming midterm election. This is despite suggestions that Republicans would regain control.
“When I hear people talk about inflation … we have to change that subject. Inflation is a global phenomenon,” said Pelosi.
“The EU, the European Union, the UK, the British have higher inflation rate than we do here,” the House speaker added. “It’s not — the fight is not about inflation, it’s about the cost of living.”
NANCY PELOSI: "When I hear people talk about inflation…we have to change that subject!" pic.twitter.com/Ck1DaPVrCc
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Pelosi went on: “And if you look at what we have done to bring down the cost of prescription drugs, to bring down the cost of energy and the rest in our legislation, you will see that has been opposed every step of the way by Republicans, and they have no plan for lowering the cost of living or helping with inflation.”
CBS’ Margaret Brennan pushed back on Pelosi. She cited Democratic South Carolina representative Jim Clyburn’s comments on inflation earlier in the week during an appearance on MSNBC.
“All of us are concerned about these rising costs, and all of us knew this would be the case when we put in place this recovery program,” said Clyburn referencing the Inflation Reduction Act (IRA) of 2022. “Anytime you put more money into the economy, prices tend to rise.”
Brennan asked if Pelosi was aware of inflation increasing following increased spending.
“First of all, government spending does,” The House Speaker replied. “We had a pandemic,” she continued, mentioning a decrease in unemployment, children returning to in-person education, and vaccine distribution from the IRA. However, according to the House Speaker, because more people returned to work, the deficit has reportedly been cut in half.
“Yes, we had to take a step forward to solve the pandemic problem, but we did so in a way that would reduce the national deficit, and that cannot be ignored,” said Pelosi.
Brennan continued to push Pelosi to respond. She noted COVID-19-related stimulus checks.
“Didn’t that end up contributing to inflation?” asked Brennan. “Do you have any regrets about the bills you passed and how you structured them?”
“No, absolutely not,” Pelosi responded. “Because that was necessary for people to survive.”
The Speaker of the House appeared to lessen inflation rhetoric, stating a reduction in unemployment is inflationary.
“The point is that this is about helping America’s working families meet their needs, and that was essential to them,” Pelosi concluded before criticizing the Trump administration’s Tax Cuts and Jobs Act of 2017.