President Biden's Economic Polices Are Failing Americans

Leader McConnell: ‘Over The Past Several Months, American Families Have Had To Contend With An Historic Amount Of Painful Inflation … This Is Exactly What Republicans, Independent Experts, And Even Liberal Economists Warned Would Happen If Democrats Started Ramming Through Massive Inflationary Spending’

SENATE REPUBLICAN LEADER MITCH McCONNELL (R-KY): “Over the past several months, American families have had to contend with an historic amount of painful inflation. This summer we saw the prices for core personal consumption soar at the fastest pace in nearly 30 years. Last month, the producer price index notched its steepest year-on-year jump in more than a decade. Across the country, across the economy, families and businesses are being hit hard…. This is exactly what Republicans, independent experts, and even liberal economists warned would happen if Democrats started ramming through massive inflationary spending. Back in the springtime, Larry Summers, a top economic adviser to both President Clinton and President Obama, warned at the time that runaway spending could, quote, ‘set off inflationary pressures of a kind we have not seen in a generation.’ Well, just ask any working family in this country about their last trip to the gas station, the grocery store, or the car dealership. Inflation has gotten so bad on Democrats’ watch that it has wiped out every ounce of the average American worker’s pay growth during this economic recovery – and then some. Annual real wage growth is negative even though employers have been handing out raises. Because of inflation.” (Sen. McConnell, Remarks, 9/22/2021)

  • LEADER McCONNELL: “You might think the disastrous consequences of Democrats’ last spending binge for working Americans might give our colleagues some pause about their next one. No such luck. Behind closed doors, they’re putting together another, even more reckless taxing and spending spree. They want to take the last bill, which Democrats called the most left-wing law in American history, and dwarf even that. Massive tax hikes on Americans that will hurt families and help China. A socialist transformation that nobody voted for. Another invitation for even for more painful inflation that will hit working Americans where it hurts. The American people don’t want it. And Senate Republicans won’t support it.” (Sen. McConnell, Remarks, 9/22/2021)
  • LEADER McCONNELL: “This unified government is behind closed doors brainstorming ways to make inflation even more painful for American families. … The government’s own data continue to indicate that the historic and painful inflation that began to take hold of our economy this spring isn’t going anywhere any time soon. … The Democrats’ inflation is so bad that even though the average American worker has gotten a multiple-percentage-point pay raise over the last year, their actual purchasing power has been cut. Their paychecks have gone up but their buying power has gone down. Wholesale inflation just marked the steepest 12-month jump on record. Even dollar stores are having to raise their prices! Just ask any American family about their last few trips to the supermarket, the gas station, or the toy store. Heaven forbid if they’ve had to participate in the housing market or the auto market anytime lately. And the Democrats are uniting around yet another multi-trillion-dollar taxing and spending spree? I guess our colleagues think they can inflate their way out of inflation. That is going to be an extraordinarily painful experiment for the middle-class families of this country.” (Sen. McConnell, Remarks, 10/04/2021)

 

As Americans Feel The Pain Of Inflation Accelerated By Massive Federal Spending, President Biden And Congressional Democrats Are Pushing For Even More Of The Same

Democrats Passed A Nearly $2 Trillion Partisan Spending Bill In Early 2021 Against Warnings From Experts And Economists That It Would Increase Inflation And Create Disincentives For People To Find Jobs

And Sure Enough, Employers Have Struggled Through Months Of Labor Shortages

 

Simultaneously, Inflation Has Accelerated At Rates Not Seen In Decades As Prices For Housing, Food, Energy, And Clothing Shoot Up

 

Meanwhile President Biden And Democrats In Congress Continue Implementing Policies To Make Energy More Expensive