[Congressional Record (Bound Edition), Volume 157 (2011), Part 8]
[House]
[Page 11009]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           QE3 AND INFLATION

  (Mr. BURTON of Indiana asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. BURTON of Indiana. Mr. Speaker, today the Fed Chairman, Mr. 
Bernanke, is indicating they are going to increase the money supply 
again. They call it QE3. What the American people need to know, that 
means they are going to print more money. And when they print more 
money, that makes the value of your dollar and your currency worth 
less. That means milk is going to cost more, bread is going to cost 
more because the Federal Government's not living within its means and 
they're going to print more money that's going to make all of our 
currency worth less.
  I want to tell you what's happened in other countries when they've 
done this. In Hungary in 1946, the price of everything doubled every 16 
hours. In Yugoslavia in 1994, the prices doubled every 34 hours. In 
Germany in 1923, the price of everything doubled every 4 days. In 
Greece in 1944, it doubled every 4 days. In Zimbabwe in 2008, it 
doubled every 24 hours.
  We need to stop this printing of money. We need to control spending 
in this body instead of letting the Fed print more money, which is a 
hidden tax on everybody in this country.

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