Sen. Rand Paul: Best gift for shoppers is a balanced federal budget
Shopkeepers Robert and Karen Taylor hear it from their customers at the cash register 맥스카지노 inflation is still hitting shoppers' pocketbooks.
"You know, we have people come in that have very limited budgets looking for gifts, you know, and the dollar just doesn't go as far as it used to," Karen Taylor told 비바카지노 Viva News on Monday.
U.S. Sen. Rand Paul was in Taylor's shop that day to receive a "Hero of Main Street" award from the National Retail Federation, and he believes he has the recipe to help holiday shoppers.
The work of the Federal Reserve is not enough, Paul said. Lawmakers in Washington must also do their part by passing a balanced budget, he said.
"Inflation comes about because the government spends more than they take in," Paul said. "They run a debt. So this year, the deficit for one year will be $2 trillion. And so that's paid for by the Federal Reserve buying that debt. And the Federal Reserve prints up new money, and then the existing money becomes of less value. That's inflation."
Paul would also like to see President-elect Donald Trump's incoming administration roll back some regulations to give small businesses more breathing room, but said he is opposed to Trump's proposed tariffs.
"Do I want American steel to do well? Yes," Paul said. "I'd lower their taxes, lessen their regulation, try to get out of their way. But at the same time, if I raise the price of steel with tariffs, all the people buying steel, all those jobs are threatened. So I don't think tariffs are a good idea. And I will continue to oppose the tariffs."
Paul said he plans to introduce legislation that will take away a president's power to impose tariffs.
"Because I think really a tariff is a tax," Paul said. "It is placing a tax on a good. Shouldn't your legislature be voting on taxes? We fought the American Revolution over taxation without representation, without a vote of the legislature."