NASHVILLE, TN—United States Senator Bill Hagerty (R-TN), a member of the Senate Appropriations and Foreign Relations Committees, today joined Mornings with Maria on Fox Business to discuss accelerating inflation, the Biden Administration’s failures in the Middle East, and the latest on the Iran nuclear deal.
Hagerty on concern for future inflation: “I’m greatly concerned, actually. A lot of this money is in the coffers of state and local governments, but they have yet to spend it. So as you say, Maria, it’s baked into the future. Inflation isn’t going to go away overnight. In fact, [if] you look at the most recent numbers, it’s very concerning because inflation is actually still accelerating. So, we’ve got a real issue on our hands. People are spending down their savings—that’s true—American savings [are] coming down. But what we’ve also got is a state municipal government scenario where they’re going to continue to put pressure on prices here in America, so it’s very disconcerting. You know, the [Federal Reserve] is taking action. They will do it again this week…raising rates another three-quarters of a point. I think that’s going to continue again in December, again in February. We’ve seen mortgage prices already double. That does have a dampening effect [on] the economy, but we still have massive inflationary pressure that dates all the way back to March of 2021, when under the guise of a pandemic, the Democrat Party, without a single Republican vote, shoved through this massive stimulus program.”
Hagerty on the dead Iran nuclear deal: “It should have been dead from the start, Maria. They talk about human rights being the justification for pulling out now, but what about the human rights of our allies in the Middle East? As soon as these guys came into office, they took the Houthis off the terrorist list. The next thing they [did]—the Houthis attacked our allies in the Middle East. Look at what happened. They funded Hamas in the Middle East, the Gaza incident where they had an 11-day war attacking our allies—Israel. This has been going on for some time. Now the Biden Administration has given up. You know, they’ve been funding and they’ve been supplying the Russians with these Kamikaze drones. Think about it—American taxpayers are putting tens of billions of dollars into Ukraine to defend Ukraine, yet they’re talking about releasing hundreds of billions of dollars to Iran. Finally, the Biden Administration is waking up—I hope and pray.”