Inflation is at the highest level we have seen since Jimmy Carter was in the White House. I have spoken many times about rising prices being fueled by out-of- control spending. Today, I rise with even more proof that this has been the case. President Biden's 2021 COVID stimulus bill overheated the economy, just as I, and many other Republican Members of Congress, along with numerous economists from both sides of the political divide, predicted. Now a report by the non-partisan Congressional Budget Office shows that spending did, in fact, create a worker shortage which strained supply chains and contributed to the economic crisis in which we find ourselves today. One year ago, companies across middle Tennessee were struggling to find workers. More than 160,000 Tennesseans were unemployed; yet 218,000 jobs were available. Folks were earning $15.75 an hour to stay home because of the unnecessary $2 trillion bill pushed through by congressional Democrats on a party line vote. Employers became desperate. Many were forced to offer massive sign-on bonuses and other incentives just to find enough workers to continue operating as normal. Unfortunately, some had to close their doors. Tennessee's Governor Bill Lee, a businessowner himself, recognized the damage enhanced Federal unemployment benefits were causing on restaurants and retail stores. He noticed many couldn't compete with $300 a week from the Federal Government on top of State unemployment benefits.…
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