Speaker of the House Nancy Pelosi suggested the cost of living was a larger threat than inflation during a Sunday appearance on CBS’ Face The Nation.
Pelosi said she was “very confident” Democrats would maintain control of the House and Senate after the upcoming midterm election 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 continued. “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 continued: “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, who hosts Face the Nation, pushed back on Pelosi citing 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 the Speaker of the House was aware of inflation increasing following increased spending.
“First of all, government spending does,” Pelosi replied, appearing to concede she was aware inflation would increase. “We had a pandemic,” continued Pelosi, mentioning a decrease in unemployment, children returning to in-person education, and vaccine distribution from the IRA. However, because more people returned to work, the deficit has reportedly been cut in half, according to the House Speaker.
“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 pushing Pelosi to respond, noting 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.
