On the recordJuly 19, 2022
Mr. President, June inflation numbers came out last Wednesday, and, as is typical for the Biden Presidency, they weren't good. In fact, they were spectacularly bad. Inflation hit 9.1 percent in June, the worst inflation since November of 1981. The last time inflation was this bad, America was still a year and a half away from finding out whether Han Solo would survive his time in carbonite. Mr. President, we all know how we got here. In large part, it was via a Democratic spending spree. When Democrats took office in January 2021, Congress had just passed a fifth bipartisan COVID relief bill that met essentially all current pressing COVID needs. But now that they were in charge, Democrats were eager to get spending. So they passed a massive $1.9 trillion piece of legislation under the guise of COVID relief that flooded the economy with unnecessary government money, and, as expected, the economy overheated as a result. Even worse, despite steadily climbing inflation in the wake of their bill, Democrats seemed incapable of learning from their mistake. In fact, they spent last fall attempting to double down on the strategy that helped get us into this mess in the first place. Fortunately, their plans for a second spending spree failed last December. But it has become clear that they are not giving up. In fact, right now, they are trying to pass a new version. In the latest iteration of their tax-and-spending spree, Democrats notably plan to hike taxes on small businesses.…
Source
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