Will Cain reveals how Biden's spending led to inflation

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Will Cain: Americans are wondering how we got here

Fox News host weighs in on the president's approval rating on 'Tucker Carlson Tonight.'

Will Cain revealed how President Biden’s spending resulted in the destruction of the U.S. economy through record-high inflation Friday on "Tucker Carlson Tonight."

WILL CAIN: Right now, a lot of Americans are wondering: How did we get here so quickly, just a year-and-a-half into Joe Biden? 

BIDEN APPROVAL RATING PLUMMETS TO 39%, DOWN 24 POINTS FROM LAST YEAR: AP POLL 

President Joe Biden delivers remarks on the debt ceiling during an event in the State Dining Room of the White House, Monday, Oct. 4 in Washington.  (AP Photo/Evan Vucci)

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I think right here on "Tucker Carlson Tonight," we can announce that Joe Biden has finally succeeded in unifying the country — against Joe Biden, and the polling makes that very clear. 

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Now, from his inauguration speech, though, we know Joe Biden didn’t see any of this coming. He didn't think it was possible to wreck a functioning economy in just a year-and-a-half, but the signs were there. The nation's monetary supply had grown dramatically in 2020 due to pandemic spending, but Joe Biden ignored those warning signs. He was laser-focused on demonizing his political opponents instead of managing the economy.  

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In a single bill, the American Rescue Act, Biden spent $1.9 trillion. According to an article by the Federal Reserve Bank of San Francisco, that action led directly to inflation: "Estimates suggest that the fiscal support measures designed to counteract the severity of the pandemic's economic effect may have contributed to this divergence by raising inflation 3 percentage points by the end of 2021." But Joe Biden kept going. He spent another trillion dollars on infrastructure. The result? The highest inflation rate we have seen in decades.