WASHINGTON, D.C. – On Thursday, U.S. Representative Jason Smith (Mo.) spoke on the House floor to slam President Biden and Washington Democrats for their reckless spending that has driven inflation to a 40-year high, forcing Americans to pay more to put food on their table, clothes on their backs, and gasoline in their car.
As Smith noted, President Biden and Washington Democrats have only themselves to blame for the inflation crisis. Since President Biden took office, inflation has increased 12.2 percent, gas prices are up 109 percent, and real wages are down 4.2 percent.
With food, housing, transportation, and energy costs combined, it is estimated that President Biden’s inflation will cost the average Missouri household an extra $7,951 over the next year.
Washington Democrats and President Biden’s reckless $1.9 trillion spending bill, signed into law in March of last year, overstimulated the economy and ignited the inflation crisis. Following are a few examples of the wasteful spending included in their $1.9 trillion bill:
l Less than nine percent of the bill went to combat the virus via public health spending; l $400 billion (21 percent) went to policies that reduced private sector employment; and l An estimated $400 billion has been lost to fraud. |
CLICK HERE to Watch Smith’s Remarks |
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Following Are Smith’s Remarks: “Mr. Speaker, the biggest challenge facing Missouri families right now is sky-high inflation. And they know that President Biden and Washington Democrats have only themselves to blame for driving inflation to the highest level in forty years. “Last month alone, inflation cost Missouri families an extra $663. That’s about the same price as a [monthly payment on a] brand-new pick-up truck. Gas prices are the highest they’ve been at over $5 a gallon. The cost to fill up an F-150 is over $150. Families are paying more to put food on their table, clothes on their backs, and gasoline in their car. “Milk is up 15%, bread is up 14 percent, bacon is up 18 percent. And just yesterday, the Federal Reserve raised interest rates for the third time since March. This is yet another price increase for families, farmers, and small businesses. “The American people cannot afford to keep paying for President Biden’s mistakes.” |