This is CBS I In The World With My Colleague and friend, Elizabeth Peake, right to

call him for the hill, call him for Fox News, much on Fox Business.

Over the last year, Liz has been consistent in identifying the stimulus packages from

the Congress under the Biden administration.

Coming back to 21, but the inflation reduction act of 22 was the one that got Liz's major

attention in 22.

And it's still on the path to landing.

All that cash hasn't been spent yet.

It's going to be, and therein lies what Mr. Bernanke and his colleague Olivia Blaschard

identify as a driver for the sticky inflation.

Liz, there's nothing we can do, right?

It's like a waterfall.

It's going to fall on us no matter how we think of it, correct?

Well, and I think that's the trouble here.

The Biden administration doesn't seem to take any ownership of the fact that perhaps

too much money was fed into the economy.

An economy going back to our earlier discussion that, yeah, there was tightness of various

goods and so forth because of the pandemic.

But then we just had this, what you described as a waterfall, pretty good analogy, because

it just never stops.

The Republicans wanted to stop.

We're saying, okay, let's take 22, fiscal 22 is a baseline and cap spending discretionary

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