Fox Business host Neil Cavuto clashed Wednesday with Democratic Maryland Rep. Steny Hoyer over inflation and President Joe Biden’s popularity among members of his own party.
Cavuto questioned whether Biden’s proposed climate agenda will address inflation, which rose 9.1% over 12 months in June. The representative argued the nation has witnessed a creation of 8.9 million additional jobs and a 3.6% unemployment rate.
Hoyer argued further that Democrats have “responsible answers” to power the economy with the existing fuels currently available.
“Neil, I think inflation is a huge problem,” Hoyer said. “It’s a huge problem for Americans, supply shortages particularly in grocery stores is a huge problem for Americans. We need to deal with that. We passed the Food and Fuel bill not too long ago, we passed the Ocean Shipping bill which has to do with prices and supply lines, we passed the Competes bill … All of that deals with inflation.”
Cavuto then asked Hoyer if the president should run for re-election given that he will be in his 80s at the time. Hoyer said he will discuss the “issues of today” rather than the 2024 election.
“Six out of ten Democrats don’t think the president is up for dealing with this today, right?” Cavuto said, appearing to cite a recent New York Times/Siena poll finding 64% of Democrats prefer a different presidential nominee for the 2024 election. (RELATED: Doocy Presses Jean-Pierre On Claims That Inflation Is Worse Everywhere Else Around The Globe)
“Stop interrupting me,” Hoyer said. “Neil, are you going to let me speak?”
“Please, go ahead,” the host said.
The representative argued inflation is a global issue and the U.S. stands in the middle of the nations facing the crisis. He cited the pandemic as the cause of supply shortages and high demand. Cavuto then suggested that high government spending contributed to the rise in prices.
“If spending caused it, why are 50% of the nations and the OECD [Organization of Economic Co-operation and Development] nations above us? They didn’t do an American Rescue Plan. Did spending, yes, I think it did in this sense. During the pandemic, people were shut in their homes, not consuming and suppliers were cutting inventory because people weren’t buying.”
“Do you think we’re through the worst of it then?” Cavuto interjected.
“I certainly hope we’re at the worst of it and what points that out, people are coming out and consuming, they’re buying. And what happened? The suppliers were down and what happens when supply is down and demand is up? You spike costs and that’s a problem,” Hoyer said.
The representative said the administration is taking steps to combat inflation, including by attempting to decrease prescription drug costs through the Build Back Better plan.
“So, you don’t share the concern [that] six out of ten Democrats have about the president or his age?” Cavuto asked.
“That’s not what I’m here to talk about,” Hoyer said. “In my view, the president is acting responsibly [and] effectively on behalf of the American people, on behalf of our economy and that’s why we have 8.9 million new jobs, that’s why we have 3.6% unemployment and that’s why we’re doing well. But in doing well, it has increased demand and supply has not caught up yet.”