Absolutely. And as a matter of fact, we had a discussion in our Financial Services Committee today. I am on the Financial Services Committee with you. And we heard Mr. Bernanke, who is the chairman of the Federal Reserve, who is really trying to do the best that he can under difficult circumstances, and he talked about 6 months ago, we talked about the fact that we had a subprime mortgage crisis problem and a couple of other things, but that all the other indicators, inflation and cost of living were pretty okay. Well, guess what? Today, we see the things that really affect families. When we talk about families, we are not talking about Wall Street. We are talking about what it really costs to live day to day. Look through your checkbook, your monthly expenses. Your mortgage or your rent, the cost of utilities, all have gone up because oil prices have gone up. The cost of food, extraordinarily, inflation, big inflation costs of food, a gallon of milk, vegetables, fruits, cereals, all these kinds of things all have gone up. Gasoline now costs $50, $60 a tank, depending on what kind of car you have or how big the tank is. Do you know something? For people that are earning 20, 30, $40,000 a year, it is pretty hard to make ends meet. For people on minimum wage, it is even worse. So I think this is a real economic issue for people at this moment that we have to solve.
Ron Klein: “Absolutely. And as a matter of fact, we had a discussion in our Financial Services Committee today. I am on the…”
Editor's note · Context
Discussing the impact of rising costs on families during a Financial Services Committee meeting.
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