When the White House celebrated a 16 cent decrease in prices for select Fourth of July cookout items, Americans were left wondering if the Biden administration was making a joke. It certainly felt like the American people were being mocked because on that same Fourth of July, consumers paid an average of $3.15 for a gallon of gas, the highest price per gallon since 2014, and a 45 % increase in the last year alone.
Seemingly limitless spending by President Biden and far-left liberals in Congress has caused inflation to soar leaving ordinary citizens stuck with the bill.
Famed economist Milton Friedman once said that "inflation is taxation without legislation."
Last month, the cost of living in the United States jumped by the biggest amount since 2008, when we faced a nearly two-year recession following a devastating market crash. On average, consumers are paying more across the board, from eggs at the supermarket to electricity on their monthly energy bill.
Simply put, the skyrocketing inflation since Biden has taken office is on pace to crush the middle class.
Despite the overwhelming evidence that prices are rising faster than paychecks, Democrats are charging ahead with their reckless $3.5 trillion tax-and-spending plan that will disproportionately hurt families with lower incomes. If we want to get people back to work and create more jobs for hard-working Americans, we must return to solutions that safeguard taxpayer dollars and help businesses thrive.
Businesses across the country are struggling to find workers while the Biden administration continues to incentivize unemployment by paying people to stay home.
Locally owned businesses simply cannot compete with the money being handed out by the federal government.
These worker shortages, coupled with inflation, are forcing "mom and pop" stores to raise prices. A staggering 47 percent of small business owners reported raising average selling prices, the highest rating recorded since 1981. That same survey reported that 46 percent of small business owners noted job openings that could not be filled.
"When I went to the store across the street to buy a help wanted sign, they had sold out," one Long Beach, California restaurant and bar owner told NPR. The combination of inflation and labor shortage has damaged businesses and threatened their ability to stay afloat.
This is the new reality of Joe Biden’s America. As we work to rebuild our economy from the COVID-19 pandemic, this wasteful spending will only set us back and hurt future generations of hard-working Americans.
On top of this, Washington Democrats want to raise our business tax rate higher than Communist China’s and enact policies that make it better to be a foreign company operating in the United States than an American company.
If the worker shortages and anti-business policies continue, the damage to the U.S. economy will only be amplified.
How did we get to this point? Americans remember a time not so long ago when their president valued their hard-earned savings and prioritized American interests.
Today, that is slowly becoming a distant memory. When President Biden took office, he quickly pursued a far-left policy agenda that is out of step with the needs of everyday Americans.
If signed into law, President Biden and congressional Democrats’ $3.5 trillion tax-and-spending spree will fuel inflation, send jobs overseas, and bankrupt future generations of Americans.
Beyond small businesses, the Biden administration has caused significant harm to America’s domestic oil and gas industry. The president’s failed energy policies have restricted U.S. oil and gas production and encouraged our foreign competitors to increase their output.
We simply can’t afford to saddle middle class families and small businesses with decades of debt, but Washington Democrats are treating them as the piggy bank for their extremist policies like the Green New Deal. It’s time we demand accountability and bring about responsible, commonsense policy.
If Democrats are successful in advancing their $3.5 trillion far-left agenda, the future of our economy is in trouble.
We must end the policies that are contributing to labor shortages and inflation, and fight for America’s recovery. We need to get Americans back to work, get kids back to school, and help businesses nationwide reopen and recover.
If we don’t, congressional Democrats and President Biden will continue to harm America’s prosperity and our economic health. And as lawmakers, we have an obligation to stand up for the American people.