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listening. Terms apply. This is CBSI in the world. I'm visiting with John Cochran of the Hoover Institution,

and we're talking about inflation rates. Inflation was the story in the recent election.

Again and again, no matter where you were in the country, is said to have contributed to the

success of the Republican Party and President-elect Trump. However, there was also this

explanation about what is to be done afterwards that involved a major piece of legislation

by the Biden administration, the Inflation Reduction Act. An enormous amount of money,

I believe the word trillion is used, as some of which or much of which

has not been spent yet. And my understanding, John, is that that coming into the market and being

distributed for good intentions, created conditions for the inflation rate to rise. Is that accurate? I believe so, not just the

inflation reduction, the humorously, hilariously named inflation reduction act, but the three

previous stimulus bills, including one under Trump in December 2020, but then the American Rescue

Plan in $2 billion in early 2021 and several other

bills that went through collectively spending about $6 trillion of money that the government

didn't have, plus the plus signing us up for more and more money down rat holes in the years

ahead, which is the singular piece of

the Inflation Reduction Act. I think people saw that money being poured out of Washington and said

...