On Fox Across America with Jimmy Failla, Sen. Ron Johnson (R-WI) shared his concerns about Washington trying to fix the budget crisis through inflation.
“The way we’ll try and solve the debt crisis is probably, we’ll inflate our way out of it. Who does inflation hurt? Not the rich guys, not Jeff Bezos. It’s going to hurt seniors on fixed incomes. By the way, low interest rates already are hurting seniors tremendously. Where do you invest your money? Where can you get an adequate rate of return and the misallocation of capital that results from lower interest rates? Right now, you’re misallocating capital into government spending, which is not very efficient, not certainly not as efficient as the private sector. There’s so many harms caused by keeping interest rates artificially low and then sparking inflation with unsustainable levels of spending and a lot of harm to people in the lower income spectrum and for seniors on a fixed income.”