‘We’ve lost more to inflation’ than we got from stimulus checks and we’ll ‘get more inflation’

On Wednesday’s show of Newsmax TV’s “Prime News,” Sen. Rand Paul (R-KY) reacted to a report that inflation will mean the average household will have to spend $11,500 more to maintain the same standard of living stating that “now we have lost more due to inflation than they gave us as free money. And predicted that due to the fact that all the coronavirus relief money has not been spent, there will be more inflation as that money is released into the economy.

Paul said: “What we know for sure is that we have now lost more to inflation than they gave us as free money. The inflation came from the free checks given out. They shut down the economy. They sent free checks to everyone. And they said, oh, this will make up for it. But guess what? When people add up how much they pay for gas and groceries, it cancels out all the free money. And I don’t think inflation is over by a long shot. There is still about $2 trillion held in the coffers of cities, counties, and state governments that has yet to be spent. As it is spent and invested in the economy, as it hunts for goods, it will drive up the price of our goods. We’re going to have more inflation, so it’s not over.