TRANSCRIPT:
LEE: "Utahns — the average Utah household, the average Utah family is now spending $702 every single month on the same basket of goods and services relative to just 14 months ago. Nearly $8,500 that they’re paying every year, and rather than this going toward their retirement, toward a down payment on their home, or their child’s college education, this just goes into nothing. A significant part of that has to do with increases in energy costs. Anytime you see inflation like this, as Milton Friedman explained it, there is always some type of government overspending at the heart of that kind of inflation, because it always involves too many dollars chasing too few goods. So I’ve introduced something called the PRICE Act, which would say that anytime inflation is at or above three percent, you’d have to have a super-majority passage rate for any new spending legislation. That and something called the SHIP IT Act that would reform some of our federal regulations to solve the supply chain crisis, plus the energy reforms that Senator Sullivan just mentioned. Those would go a long way towards solving this problem."