On the recordSeptember 29, 2021
Mr. President, the difference between medicine and politics--because I am a doctor--is that in medicine, you are forced to look at reality as reality is, whereas in politics we can make up reality. It is: Oh, my gosh, I want it to be this way; so let's assume that it is. I think it is a time for, at least--one, I think it is always better to look at reality, but, particularly right now, let's talk about it as regards inflation. Inflation is really hurting middle-income families. We are seeing higher prices in the grocery store, electricity bills, at the gasoline pump eating up their budgets. President Biden has repeatedly said he would not raise taxes on those making less than $400,000 a year, but rising inflation as a result of his harmful economic and energy agenda is effectively a tax. This is predictable. Democrats and left-of-center economists like Larry Summers warned about the risk of inflation and predicted a sharp rise in prices. He sounded the alarm at the $1.9 trillion American Rescue Plan. He said that could overheat the economy. It did. This summer, used car prices were up 45 percent, gasoline 45 percent, whole milk 7.5 percent. American families are paying higher prices for goods and services that are essential, and it continues to go higher. The U.S.…





