On the recordJuly 22, 2021
Mr. President, inflation is on the rise. Inflation in June was at its highest level in 13 years. Consumers are facing the effects: higher prices. Americans are facing increases in rent, in their restaurant bills, in their grocery bills, gas prices, and the list goes on. Want to buy a used car? Expect to pay a lot more money than you would a year ago. Inflation happens when the amount of money out there exceeds the supply of products. When that happens, when demand outstrips supply, prices increase. And that is what we are seeing now. It is being aggravated by Democrats' decision this spring to flood the country with unnecessary money. During times of crisis, there is a place for increased government spending. The money the government invested in COVID vaccines, for example; the forgivable loans provided to small businesses to help them weather the pandemic; and the increased assistance to hospitals and healthcare providers as the crisis escalated. But crisis spending is for just that, a crisis, or at least it should be. Unfortunately, Democrats have never met a temporary government dollar that they didn't want to keep spending. ``Temporary'' government programs aren't really a thing for my friends across the aisle.…





