Senator Rand Paul (R-KY) said on Fox Business Network’s “The Evening Edit” that both Republican and Democratic lawmakers’ proposals will not balance the budget.
Host Elizabeth MacDonald said, “Americans have seen inflation go up more than 13% since Biden took office. The San Francisco Fed Bank, officials out in San Francisco, they blame a lot on massive spending. You have done a lot of work on government waste and fraud. You know it is so easy to seem like you are a generous great person with someone else’s money.”
Paul said, “The thing is, we could balance our budget and get rid of the inflation, but you have to spend what comes in. I have been proposing for years budget plans that would bring to us balance within five years.”
He continued, “Even now, as bloated as the government has become with COVID bailouts, we could actually cut spending about 200 billion dollars then freeze it over about a five-year period. You would actually lead to balance. But it is incredibly important that you have to reduce spending and stay there for a few years. Most people proposing solutions, both Republicans and Democrats, are proposing things that are inadequate and will never balance the budget.”
Paul added, “I think we have to be more dramatic, and if we do, we will e rewarded with stable dollars, stable prices, and we will get rid of the inflation.”
