On the recordJuly 14, 2021
Madam President, America is in a debt crisis because of reckless government spending. Now, thanks to the insane spending and failed policies of President Joe Biden and Democrats in Washington, we are seeing higher and higher inflation. Under the Biden administration, inflation has grown every month. Just look at this week's CPI numbers. From June 2020 to June 2021, the Consumer Price Index rose 5.4 percent. Energy costs are up 24.5 percent, and gasoline prices are up 45 percent--nearly $1 more from where they were last year. Inflation is at the highest rate since the great recession. This week's Producer Price Index data shows a 7.3- percent increase in June and a historic 22.6-percent jump in the prices of processed goods, the highest since 1975. For 6 straight months, we have seen the data clearly shows that spending beyond our means has consequences. Inflation is growing at the fastest rate since 1981. These aren't just numbers or statistics; these increases represent a growing pressure on Florida families and businesses. Every time prices rise, life gets harder. Last month, I met with business owners in Miami and heard firsthand how their businesses were struggling with the rising price of goods. Every time I am home in Florida, I hear from families who are noticing prices are up, gas prices are up, and food prices are up. Every price increase has a direct impact on a family's budget.…





