Trump Declares, ‘Inflation Is Back’ and ‘I Had Nothing To Do With It’

President Donald Trump announced the return of inflation while denying he had anything to do with the development less than a month into his second term.

Trump and Elon Musk sat for a joint interview with Sean Hannity that aired Tuesday night on Fox News. After Musk spent more than a quarter billion dollars to return Trump to the White House, the president named the Tesla CEO as leader of the “Department of Government Efficiency,” ostensibly a cost-cutting enterprise. Since taking the reins, Musk’s team has terminated scores of federal employees and frozen funding that was already appropriated by Congress. Those moves have sparked a spate of lawsuits pointing to the questionable legality of the decisions.

Musk has claimed he is looking to cut federal spending by $2 trillion, but has since scaled that number back to $1 trillion. That is still a massive amount of the federal budget, which is around $7 trillion.

“The overall goal is to try to get $1 trillion out of the deficit,” Musk told Hannity. “If the deficit is not brought under control, America will go bankrupt. This is a very important thing for people to understand. A country is… no different from an individual in that if an individual overspends, an individual can go bankrupt, and so can a country. And the massive waste, fraud, and abuse that has been going on, which is leading to a $2 trillion a year deficit, that’s what the president was handed on Jan. 20.”

“We inherited it,” Trump responded. “And inflation is back. I’m only here for two and a half weeks. Inflation is back. No, think of it. Inflation’s back and they said, ‘Oh, Trump.’ I had nothing to do with it. These people have run the country. They spent money like nobody’s ever spent. They were given $9 trillion to throughout the window.”

Despite the fact that inflation has ticked up, Trump is standing by his pro-tariff policies, which tend to increase prices.

Watch above via Fox News.