“Inflation is not just Joe Biden’s issue,” Sanders announced, as Graham accused Democrats’ $1.9 trillion stimulus bill passed last year, the American Rescue Plan.
“You have to explain why it takes place around the world, and that has to do with supply chain, the terrible war in Ukraine, and in my view, corporate greed,” Sanders, D-Vt., insisted throughout the fiery debate at the Edward M. Kennedy Institute in Massachusetts.
Graham, in the meantime, accused Democratic policies of an “inflationary death spiral.”
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“The American Rescue Plan - according to Larry Summers, not Lindsey Graham - was ill-conceived and ill-designed and would do more to spark inflation than any policy in the last several decades,” the South Carolina Republican announced, invoking Obama-era economic advisor and Clinton-era Treasury Sec. Larry Summers.
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Inflation is now running at 8.6 percent as of May, the highest rate in more than 40 years.
He then accused Sanders and different Democrats of high gas prices through Biden shutting down the Keystone Pipeline and taking 10 million acres “out of production” by halting federal oil and gas leases. The Republicans did, though, concede that the U.S. had to electrify its energy grid at some point.
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“We’re going to electrify the transportation fleet by the mid-2030s, 2040s, somewhere in that time period. Most cars on the road will be electric. Until we get there, there is no reason to drive this generation of Americans into poverty by going to the pump,” he claimed.
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“If the world were less dependent on fossil fuels, who would be the biggest losers? The Iranians. The Russians. Venezuela. So let’s get to that better day. But let’s don’t do it this way.”
The pair of senators then sparred over socialism.
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“You’re a socialist, aren’t you?” Graham announced to Sanders.
“I’m a Democratic socialist, and the policies that I am advocating are taking place all across the world,” Sanders continued, adding that Graham’s “red-baiting” might work in some circles, yet Americans agreed with Sanders. He then questioned Graham whether he thought increasing the minimum wage to $15 an hour, implementing Medicare-for-All, and expanding Medicare to cover dental was “socialistic.”
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The senators somewhat agreed on tariffs, though Sanders announced he supported Biden’s choice to lift tariffs on Chinese solar panels last week.
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“We need to get more solar paneling into this country,” Sanders stated, continuing that he was not a fan of the North American Free Trade Agreement (NAFTA) under President Bill Clinton established permanent normal trade relations with places like China and Mexico. “I thought then it was a disaster, I think now it was a disaster.”
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