Economic indicators released Wednesday show that U.S. annual inflation hit a more than three-decade high in October. The economy continues to suffer from the Biden administration’s reckless spending and federal regulations that stifle any opportunity for growth. Joel Griffith, research fellow in Heritage’s Roe Institute for Economic Policy Studies, made the following statement in response to the dismal economic indicators: “The cost of living increased at the steepest rate in more than three decades this … Continue reading Here’s how Biden inflation is robbing you
Tag: producer inflation
Bad news for consumers – prices rose 0.9 percent in October and to a 30-year high, according to data released today by the Labor Department. CEI Senior Fellow Ryan Young explains ways policymakers can help tamp down on inflation: “Inflation increased yet again. Inflation is what happens when the supply of money grows faster than … Continue reading Inflation hits record highs, here’s what politicians can do to stop it
Americans for Limited Government President Rick Manning issued the following statement in response to inflation rising to 6.2 percent annualized per the Bureau of Labor Statistics: “The Labor Department’s measurement of price increases in the month of October showed an annual increase of 6.2 percent led by energy inflation which have jumped by 30 percent … Continue reading Inflation explodes to 6.2 percent annually as Congress jacks up spending
With inflation on pace to reach its highest level in nearly forty years, President Biden and Washington Democrats are attempting to ram through a 2,400 page, multi-trillion tax and spending agenda that will all but guarantee to fuel the fire of inflation and further harm working families.
Rising prices for everyday goods are being turbocharged by Congress spending money it simply doesn’t have.
U.S. Senate Republican Leader Mitch McConnell (R-KY) delivered the following remarks on the Senate floor regarding Democrats’ reckless tax and spending spree: “The American people continue to hear about a steady stream of bad ideas that Washington Democrats are packing into their next reckless taxing and spending spree. There’s one clear thread that ties them … Continue reading Biden crushes Americans under tidal wave of tax hikes and IRS spying
Last month the producer price index notched its steepest year-on-year jump in more than a decade.
The clock is ticking to write and vote on the $3.5 trillion ($5 trillion in actuality) liberal tax and spending spree. With each passing day, however, Democrat infighting worsens. Progressives and “moderates” are in open combat in the House, as committee markups highlight the large policy fractions within the party.
In July, a key inflation indicator reached a 30-year high, previewing a record-high level for producer prices in August.
In true Democrat fashion, Joe Biden isn’t letting the inflation crisis go to waste. In fact, he’s using it to push his radical anti-business agenda.
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