I'm interested in concentrating on reducing returning to a reasonable pre pandemic level spending. We spent $4.4 trillion in 2019 prior to the pandemic. Then we went on a massive spending spree, borrowed trillions of dollars. That's what devalued our currency. That's what sparked 40 year high inflation. We never stopped spending. We never stopped borrowing again. No family, if they got an illness in the family, would borrow $50,000 to pay for medical bills. (04:12–04:17)
CLAIM
Asserts that massive deficit spending devalued the currency and caused 40-year high inflation.
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.