Political Quotes

“``our experts believe and the data shows that most of the price increases we've seen . . . [are] expected to be temporary''--that is what President Biden said 1 year ago this month, something his administration has repeatedly echoed. Unfortunately, it long ago became clear that was wishful thinking on the President's part. Far from being temporary, inflation has become a fact of life in the Biden economy. Last month, inflation hit its highest level yet under President Biden, climbing to 9.1 percent, the worst inflation in more than 40 years. The impact of inflation is being felt in every corner of our economy. Businesses of every size are dealing with the effects of inflation. Small businesses, of course, are being hit particularly hard. And 75 percent of small business owners report inflation has had a negative effect on the financial health of their business over the past 6 months. And 75 percent report that inflation pressures are getting worse. It is not surprising. Everything from inputs to transportation to electricity has become more expensive in the Biden economy, and that has a huge impact on businesses' ability to pay their expenses and run their operations. As one South Dakota business owner who wrote to me noted: It makes it hard for me to grow my USA-made business when I don't have the funds to pay my employees more, add more benefits, purchase more machinery, and buy more material in buck as inflation continues to rise.…”