On the recordMarch 8, 2022
Mr. President, it took several months and the worst inflation in 40 years, but finally--finally--Democrats are acknowledging that we have an inflation problem. The President actually acknowledged inflation in the State of the Union last week. But, unfortunately, while Democrats may finally be talking about inflation, they still don't seem to understand how we got here, and they are continuing to push a whole raft of terrible proposals that would hurt working families and make our inflation crisis even worse. So how did we get here? Why are Americans currently struggling with huge grocery bills and big price increases on essential goods? It is true that supply chain issues and the reopening of economies after COVID shutdowns created certain inflationary pressure, but a big part of the reason things are so bad in the United States right now is because of the American Rescue Plan spending spree the Democrats passed last March. When Democrats took office last January, inflation was at 1.4 percent, well within the Fed's target inflation rate of 2 percent. And it might have stayed there had Democrats not decided that they needed to pass a massive partisan $1.9 trillion spending spree under the guise of COVID relief--mere weeks, I might add--after Congress had already passed a major COVID bill. That is right.…





