Political Quotes

“Mr. President, the latest inflation numbers came out Friday, and the news was not good. Inflation is currently at the highest level in nearly 40 years--40 years. The last time inflation was this bad, ``E.T.'' and ``Rocky III'' were in theaters, and the Green Bay Packers were being coached by Bart Starr. High inflation is taking a major toll on American families. Gas prices are at a 7-year high. The price of used cars and trucks is up 31 percent--31 percent. Propane, kerosene, and firewood are up 34 percent. Food prices have increased significantly. Ground beef is up 14 percent. Apples are up 7.4 percent. Pork is up 17 percent; eggs, 8 percent. Baby food is up 6.7 percent. Bacon and related products are up 21 percent. And the list continues. Rent prices are up. Utility prices are up. Furniture prices are up, and on and on. Inflation is so bad that, despite wage growth this year, Americans have seen a de facto pay cut, with real average hourly earnings down 1.9 percent this year. Inflation is what happens when you have too many dollars chasing too few goods and services. And a big reason for our current inflation situation is the Democrats' decision to pour a lot of unnecessary government money into the economy earlier this year, despite--despite, I might add--being warned that their partisan $1.9 trillion American Rescue Plan spending spree could stoke inflation. And you don't have to take my word for it.…”