Gingrich hammers Democrats’ $ 3.5 billion spending plan ‘inviting economic disaster’
Former House Speaker Newt Gingrich told America’s Newsroom on Tuesday that the left’s $ 3.5 trillion spending plan could lead to “utter disaster” for the Democratic Party. Gingrich argued that “you are going to create so much inflation” and produce an economy worse than that of former President Jimmy Carter.
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TRIMON GINGRICH: “Democratic Treasury Secretary Larry Summers, who holds a PhD. in economics, was president of Harvard, Summers publicly told his fellow Democrats, it’s crazy. You are going to create so much inflation. You’re reinventing the Jimmy Carter economy, except it’s gonna be worse. You had three and a half billion out of a billion two hundred billion on top of all the COVID emergency bills that were passed last year. You are flooding the system with paper. You don’t flood it with new products. You don’t flood it with new services.
And in fact, you send so much money that there are millions of people who are not going to work because the government is taking care of them. It is an invitation to economic disaster. And the people who are going to be blamed are called Democrats because they do it. So I think 2022 and 2024 could turn out to be a total disaster for a Democratic Party that combines socialism, radicalism and inflation in one package, which I think will be pretty hard to say. “
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