What is inflation? Too much money chasing the same amounts of goods and services. Well, when they have racked up all the spending, and by the way, We've created more debt in the last three and a half years under President Biden than we did on our country's first 230 years. So as a result of that, the Federal Reserve had to expand their balance sheet, increase the money supply. And that is what created all this money chasing the same amounts of goods and services. (02:05–02:14)
CLAIM
Asserts that more debt was created in the last three and a half years than in the first 230 years of the U.S.
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