On the recordApril 26, 2023
Mr. President, one of President Biden's favorite things to talk about is giving families ``a little bit of breathing room.'' It is a phrase he uses frequently, just as he also frequently talks about growing the economy ``from the middle out and the bottom up, not from the top down.'' He used both phrases in a speech just last week. And, frankly, it is somewhat staggering to me that he continues to talk like this, because the Biden economy is the story of taking away Americans' breathing room. It is a story of declining purchasing power for lower and middle- income families, of wages that don't keep pace with increased costs, of stretched budgets and difficult spending decisions. President Biden has presided over a historic inflation crisis that has left American families struggling just to keep up. According to the U.S. Department of Agriculture in February 2023, a cost-effective nutritious meal plan for a family of four cost $979.40 per month. Two years earlier, that same family would have had to spend $674.80. That is a 45-percent increase--a 45-percent increase. The Biden economy is costing that family of four an additional $304 a month for groceries, or $3,655 per year more. And, again, that is just on groceries. I don't need to tell anyone that prices have risen across the board, 15.4 percent on average since President Biden took office, and American families are feeling the pinch.…





