Kentuckians Cannot Afford Another Year of Biden’s “Temporary” Inflation
"The Biden Administration has tried to claim that we’re, ‘stronger economically than we have been in history.’ That’s what the White House Press Secretary told reporters earlier this month. But Kentuckians know that’s absurd. They know the opposite is true… Inflation is pushing Kentucky families to the brink."
WASHINGTON, D.C. – U.S. Senate Republican Leader Mitch McConnell (R-KY) delivered the following remarks today on the Senate floor regarding the economy:
“A year ago today, with prices already rising, President Biden said high inflation was, ‘expected to be temporary.’
“One year later, after nine straight months of inflation over six percent, prices are now rising at their fastest rate in over 40 years.
“Last week’s inflation report confirmed on paper what working families have been feeling for a year: President Biden’s prediction was dead wrong.
“Instead, prices are skyrocketing and paychecks aren’t keeping up.
“Real hourly wages are declining at breakneck speeds, dropping a full 1 percent last month alone. The average American worker got a full 1% pay cut just last month alone due to inflation.
“The Biden Administration has tried to claim that we’re, ‘stronger economically than we have been in history.’ That’s what the White House Press Secretary told reporters earlier this month.
“But Kentuckians know that’s absurd. They know the opposite is true.
“In my home state, the average household now spends over $600 more every month compared to the day President Biden took his oath of office. That comes out to more than $7,300 a year.
“Inflation is pushing Kentucky families to the brink. As a result, food bank demand is rising and shelves are running low.
“A soup kitchen in Campbell County put out an urgent call for volunteers as surging visitors threaten to overwhelm its limited staff.
“As the Executive Director said in an interview, with ‘inflation and milk [at] $4 a gallon,’ they see people who’ve ‘never needed help before.’
“I’ve received messages from constituents all over the Commonwealth facing the same crisis: prices are rising while real wages fall.
“A 59-year-old from Louisville tells me she’s worked two jobs since she graduated college in 1987 to save for retirement. Now, she’s afraid she’ll ‘lose [her] hard-earned money… due to this inflation.’
“Another constituent in Hopkins County tells me he worked sixty hours a week for years to afford the home he bought recently.
“Now, with rising prices, he ‘can’t even support [his] family anymore’ and might lose his new house.
“A couple in Lexington in their late seventies spends almost all of their fixed income on rent, utilities, and medical bills. They’re struggling to find enough left over for food. ‘What are we suppose[d] to do?’ they ask.
“Families across Kentucky are asking themselves the same question every day.
“The answer from Washington Democrats is alarming, but not surprising. After spending us into inflation, they now want to tax us into a recession.
“I can’t think of a more reckless response to struggling Kentuckians.”
Related Issues: Economy, Senate Democrats, Inflation, Kentucky