Khanna Ties Inflation to $5T Pandemic Spending
Households that felt higher prices are hearing a contested account of their cause, with the $5 trillion pandemic spending figure at the center of the claim.
Updated on Nov. 3, 2026 in Inflation
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Rep. Ro Khanna (D-CA) said on Fox News' America's Newsroom that government spending on the COVID-19 response, which totaled $5 trillion, caused the inflation that followed. He said the government overspent but produced the best recovery of any nation.
Why it matters
Khanna's account ties household price pressure to pandemic-era federal spending under the CARES Act and the Biden administration rather than to any single policy. The claim matters for budgets because it shapes how the public and policymakers judge the cause of the price increases households absorbed.
Khanna cited $5 trillion in government spending on the COVID-19 response, and said inflation fell to around 3% when Donald Trump took office after rising during the end of his first term and the Biden administration. The interview did not break down how the spending translated into prices for households.
The players
Ro Khanna
Democratic U.S. Representative from California whose remarks on federal COVID-19 spending shape the national debate over inflation costs.
Fox News Channel
Cable news network whose America's Newsroom program carried the interview that puts this inflation claim in front of a national audience.
The details
Khanna attributed the inflation to government spending under the CARES Act and the Biden administration, arguing that the pandemic response injected large amounts of money into the economy. Co-host Dana Perino asked him how inflation happened under the Biden administration, prompting his explanation. Khanna also said the government spent too much but achieved the best recovery of any nation.
Timeline
End of Trump's first term: inflation rose during this period.
Biden administration: inflation rose during this period.
When Donald Trump took office: inflation had come down to around 3%.
Money Landscape
The inflation Khanna describes followed the federal pandemic-era spending under the CARES Act, and prices are reported to have eased to around 3% by the time Trump took office. Whether that spending was the main driver is the question the interview raises but does not settle.
If your household budget has been stretched by higher prices, reviewing recurring costs against what you spend on groceries and essentials is a practical first step. Keep an eye on whether inflation holds near the roughly 3% level described in the interview, since that pace shapes how quickly everyday costs rise.
The takeaway
The central money insight is that the cause of inflation is contested, and the pandemic spending figure of $5 trillion is one piece of that debate. Households can track the inflation rate over coming months to see whether prices continue to ease toward the level cited in the interview.
Further reading
For broader background on how price pressures have moved over time, see Inflation coverage on We are Savers.
Source note: This article includes information reported by Breitbart.
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