Heritage Foundation economist E.J. Antoni told Breitbart News Saturday that stopping government spending would unleash the American economy and rein in inflation.
that stopping government spending would unleash the American economy and rein in inflation.host and Breitbart News Washington Bureau Chief Matthew Boyle as President Joe Biden and Speaker Kevin McCarthy revealed they have struck a tentative deal on the debt ceiling, as Breitbart NewsAntoni said the Biden administration has largely tried to fearmonger about the tentative June 1 deadline, noting the federal government could prioritize payments.
Antoni explained that putting an end to government spending would unleash the economy and help rein in inflation. He further elaborated that more Congress spending simply drives rate hikes, “It is government spending, borrowing, and printing of money that has caused almost all of the ills that we are currently facing at least from an economic standpoint.
He added the Federal Reserve could cut rates “almost immediately” if Congress managed to balance the budget and even pay down the debt. He said that this could get the economy that would put power in the hands of the American people and not “in the hands of government bureaucrats.”Sean Moran is a policy reporter for Breitbart News. Follow him on Twitter
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