The Ukraine crisis may exacerbate inflation and supply chain issues, as well as drive gas prices up, but the threats of a Russian invasion aren't the cause of problems that have already been in play, because President Joe Biden cut U.S. oil and gas production on the first day of his presidency, Rep. Don Bacon said Wednesday on Newsmax. 

"Is this going to be the excuse — that administration is going to blame Ukraine?" the Nebraska Republican said on Newsmax's "American Agenda." "He cut U.S. production, and it hurts and it cost us jobs, and it's costing us higher energy prices."

Even though the Ukraine situation is expected to make matters worse, "it was the president's policies" that sparked inflation and more, said Bacon.

Watch the full interview here.