Pelosi claims government spending is ‘reducing the national debt,’ not causing inflation
Fox News
House Speaker Nancy Pelosi, D-Calif., argued Friday that increased government spending is "doing the exact reverse" of contributing to inflation.
Gas prices across the United States had been rising sharply long before Putin launched Russia's unprovoked invasion of Ukraine, since Biden's first days in office when he canceled the Keystone XL pipeline and "paused" oil and gas leases on federal lands via executive order. The Biden administration released 50 million barrels of oil from the National Strategic Reserve on November 23, 2021, in an attempt to alleviate growing pain at the pump. Russia invaded Ukraine on February 24, 2022. The Biden administration released another 30 million barrels from the reserve in early March 2022.
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