Speaker Johnson: ‘It Is Bidenomics That Got Us Into This Mess’

Yet critics like Johnson argue that these investments have come at too high a cost.

The Republican Critique: Spending, Inflation, and Debt

When Johnson says Bidenomics “got us into this mess,” he is typically referring to several interrelated concerns:

1. Inflation

Inflation surged to 40-year highs in 2022, peaking above 9% year-over-year. While global supply chain disruptions, pandemic recovery dynamics, and geopolitical events like Russia’s invasion of Ukraine played major roles, Republicans argue that the scale of federal spending under Biden exacerbated the problem.

In particular, they point to the $1.9 trillion American Rescue Plan Act of 2021, passed in March 2021, as excessive stimulus at a time when the economy was already rebounding. According to this argument, flooding the economy with additional demand fueled price increases across sectors—from groceries and gas to housing and automobiles.