This is CBS, I am the world, I'm John Bachelor.

Presidential election year, the candidates looking at the election in November with inflation in January.

It's logical for the candidates to talk about inflation,

what needs to be done, not at the Federal Reserve,

though they can influence the decisions at the

board but at the spending level in Congress however I read headlines now suggesting that Congress is not worried about spending or continuing to spend.

Congress is only worried about government shutdown because it didn't fund the vast apparatus that is the federal government.

I welcome Verenich to Regie my guide on what we're about to talk about, which is inflation

caused by government spending and the government spending producing the

deficits that only grow.

Ernieke, a very good evening to you.

I am not at all comforted by the fact that there will be no shutdown because what you have taught me over these last years is that it's government spending that is the driver for inflation.

Do you see any indication you're in Washington

that that matter will be addressed in this presidential year,

spend less and help the Federal Reserve constrain inflation.

Good evening to you.

Good evening, John.

No, I don't see any signs that anyone is actually serious about government spending, but that's not new.

What worries me is the most is that we're coming up on on deadlines, you know, in less than in 10 years, the Social Security Trust Fund is going to be, is going to be exhausted.

And what it means is if Congress doesn't do anything, they'll be cut to benefits.

And what is likely going to happen

is that Congress is going to resort to more borrowing in order to do to prevent the benefit cuts and that means you

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