uUnderstanding that inflation is essentially a tax that hurts everyone, especially seniors and those on a fixed income, I recently warned my colleagues that February inflation was up 7.9% year-on-year achieved. I also discussed the impact that inflationary pressures, which are at the highest levels America has faced in more than 40 years, are having on my constituents.
At each of my most recent borough council meetings and weekly polls, my constituents have consistently called for the inflationary pain to end. Seniors have told me their annual living expenses have been offset by increases in their Medicare premiums. Families have repeatedly said they simply cannot afford the rising cost of food and medicine. And small business owners have told me they can’t keep up with rising commodity prices without raising prices.
This critical feedback is one of the main reasons I was forced to vote no on last week’s $1.5 trillion spending bill. Although I have supported individual provisions of the legislation, I worry that more government spending will only worsen the plight of my constituents. I cannot in good conscience contribute to their pain.
Consider these facts: 2021 went down in history as the worst year of inflation since 1981. As a result, people are now paying more for almost everything.
Used cars and trucks increased by 41.2%. Gasoline is up 38%. Accommodation away from home has increased by 25.1%. Bacon is up 18.8%. Peanut butter is up 15.6%. Pork is up 14%. Women’s clothing is up 13.5%. Airline fees increased by 12.7%. New cars are up 12.4%. Eggs are up 11.4%. Coffee is up 10.5%. Baby food is up 8.4%. Transport services increased by 6.6%. Beer is up 5.3%.
The White House and some Democratic congressmen are trying to blame record inflation on the recent war in Ukraine. But the facts do not support this claim.
Inflation has accelerated every month of Joe Biden’s presidency. It skyrocketed after the passage of his $2 trillion spending bill, which I opposed about a year ago.
Last week’s Bureau of Labor and Statistics report contained alarming news about the health of the US economy. The report highlighted a full year of raging inflation that wiped out three full years of wage increases for workers and retirees. The same report indicates that real wages fell by 2.6% from February 2021 to February 2022. This is the fastest decline on record.
Many experts believe that the economy is in a wage-price spiral and could be headed for a recession. Rather than address the root cause of inflation, runaway government spending, Biden and House Democrats continue to distract, blame Russia and push their far-left socialist agenda. My constituents deserve better. You deserve the truth. Russia invaded Ukraine on February 24, 2022. The inflation that has infiltrated all aspects of life has been happening for more than a year.
people are not stupid. You know that this inflation is not an accident or the result of the tragedy in Ukraine. It is the direct result of more than a year of left-wing politics and reckless government spending. Even liberal economists call Biden “disingenuous” over his inflationary excuses. Former Clinton-Obama economic adviser Larry Summers said Biden was “wrong” in blaming the Ukraine war for the skyrocketing 7.9% rise in consumer prices. Former Obama economic adviser Steven Rattner observed, “This is Biden’s inflation and he must own it.”
“Owning it” doesn’t mean continuing to ignore the problem and duplicate failed strategies. My colleagues’ continued obsession with more government spending will only deepen and prolong this economic crisis.
This is not the America my constituents want to live in. They want their elected officials to tighten their belts and live within their means. They have to make tough decisions to balance their budgets, and they believe their leaders should do the same. They expect sane solutions and beg us to end the pain. I urge my colleagues to consider the very real challenges families face and to stop reckless spending.
Gus Bilirakis represents Florida’s 12th congressional district in the US House of Representatives.
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