Creating $5 trillion out of thin air devalues your money. It’s as easy to understand as a diluted glass of tea.
The Federal Reserve financed $5 trillion of debt by printing money. This resulted in a dilution of the value of money, causing inflation. Printing money out of thin air is poison to an economy.
Congress raises the debt limit, not the President. As it turns out, 43-45% of all debt the United States has accumulated happened while Nancy Pelosi was Speaker of the House.
The Federal Reserve became arsonists when they printed $5 trillion out of thin air causing the raging fire of inflation. They don't get to pretend they are firefighters when they raise interest rates in response.
Originally tweeted by Thomas Massie (@RepThomasMassie) on March 8, 2023.