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Tipsheet

GOP Promises to Take Control of Biden's Reckless Spending ASAP

AP Photo/Evan Vucci

The Biden Administration has spent and printed a reckless amount of money since entering office in January 2020. 

Nearly $4 trillion has been spent in just the eighteen months President Joe Biden has been in the White House, fueling the reason why inflation remains at a 40-year high and the economy is quickly heading down a black hole. 

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However, with the newly-controlled GOP house, Rep. Tony Gonzales (R-TX) vowed to intervene with Biden’s big spending plans. 

“I like to remind people: The power of the purse strings resides with the House,” Gonzalez said, adding that Republicans need to take action right away. 

As the GOP takes over the House next year, Gonzalez said Republicans will put a cap on Democrat’s highway robbery spending, which has caused American’s wallets to dwindle. 

The Texas Rep. criticized Biden’s student loan forgiveness plan, which wiped thousands of student loans that needed to be paid off. 

“Republicans need to go on the offensive,” Gonzalez said, “there was nothing 'free' about free college.” 

Moving on to the Democrat’s Inflation Reduction Act, which Biden promised would diminish inflation, only has caused the situation to worsen. 

“The reality is that [Democrats] caused this inflation to occur, and all they've done is add more fuel to the fire. The Inflation Reduction Act did nothing but reduce inflation,” Gonzales said. 

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When Biden took office, the 2021 budget deficit was $2.8 trillion, well over the normal range. 

To breakdown where the money went during Biden’s two years in office, $1.9 trillion went to the American Rescue Plan, $13 billion went to “gun violence,” $737 billion went to the Inflation Reduction Plan, and $280 billion to the CHIPS Act. 

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