Yellen Says Big Spending Will Fight Inflation

Treasury Secretary Janet Yellen defended the Biden Administration's multi-trillion dollar spending spree, saying “it will help tamp down inflation. Inflation is caused by too much private sector spending. Increased government spending will siphon money out of the private sector by first driving up the cost of consumer goods making them too expensive to purchase. This will force consumers to cut back on their spending.”

“Second, the efficiencies stimulated by the build back better plan will start to kick in as people switch from their selfish attitudes toward how they spend their own money toward a more public-spirited willingness to sacrifice for the common good,” the Secretary maintained. “More will happily make do with what they already have in the knowledge that the government will make better use of the money than they could have if left alone to feed their own personal vices.”

Rep. Troy Carter (D-LA) concurred with Yellen's prognostication, saying that “historically, the government has always shown more astute judgment in how money is spent than the common people. Government occupies a higher vantage point and a more noble dedication to the common good. Money that individuals would have wasted on fancy foods, clothes, housing, travel, and entertainment will be more wisely invested in the surveillance  technologies humanity needs for the future.”