Political Quotes

“Recently, Cecilia Rouse, the chair of the White House Council of Economic Advisers, was trying to explain away the challenges that runaway inflation presents to most American households, and she said, ``Most American household balance sheets are strong and can provide some cushion for rising prices.'' I was shocked to hear these remarks coming from one of the President's top economic policy advisers. Madam Speaker, most Americans, in fact, do not have a cushion for rising prices. A recent survey found that 56 percent of Americans cannot cover a $1,000 emergency expense from their savings. That is why I led a letter demanding that Chair Rouse apologizes to the millions of Americans struggling with skyrocketing prices due to the failed economic policies of the Biden administration. I include this letter for the Record. House of Representatives, Washington, DC, June 15, 2022. Dr. Cecilia Rouse, Chair, White House Council of Economic Advisers, Washington, DC. Dear Chair Rouse: We write today to express our outrage toward your recent comments during an online event hosted by the Center for American Progress. At the event, you stated, in part ``. . . most household balance sheets are strong and can provide some cushion for rising prices . .…”