If you were buying mortgages, they had to run special programs that were on variable rates that increased every so often until the markets came back and stabilized and people would turn them into flat or fixed rate mortgages. We saw a little bit of that when the 1.9, roughly $2 trillion plus others of spending came out from Congress and the Biden administration with no productivity attached to that. It was just money coming into the economy. So you have fraud and waste abuse. You have inflationary pressures. And a lot of people were talking about inflation there. (13:36–13:52)
CLAIM
Asserts that recent spending by Congress and the Biden administration, totaling around $2 trillion, lacked productivity benefits.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
