Ron Johnson: “A dollar we held before the pandemic started was about 80…”

“A dollar Americans held in 1998 is now only worth 51 cents. A dollar you held only 10 years ago, in 2014 or 12 years ago, is now worth 74 cents. A dollar we held before the pandemic started was about 80 cents. Now, where there is disagreement is what causes this. I think I agree with three of our witnesses that it's because of massive government spending, deficit spending, printing the dollar too many dollars, chasing too few goods.” (00:29–00:34)

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.