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I hope you saw my latest weekly column.

 

ROGER WICKER: Democrat inflation burns a hole in American wallets 
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For millions of Americans, a routine trip to the grocery store has become a
frustrating experience. With inflation continuing to soar, shoppers are paying
higher prices for basic necessities like bread, milk, and eggs. Many have also
noticed that they are getting less product as marketers subtly reduce the
portions to hide rising costs – a trend that some have called “shrinkflation.”
It is increasingly common, for instance, to find cereal, toothpaste, and
shampoo products containing fewer ounces than just a few months ago. These may
feel like clever marketing tricks, but they are the inevitable result of
inflation caused by government overspending. Republicans have been sounding the
alarm over inflation for months, but Democrats continue to rush ahead with
reckless spending plans, seemingly without regard for the consequences.

Gas, Automobile, and Home Prices Still Rising

Despite assurances from the Federal Reserve that all this will be
“transitory,” there are no signs that inflation will slow anytime soon. Gas
prices just reached their highest level since 2014, with Mississippi drivers
paying an average of $2.89 per gallon. Home buyers are still facing the
toughest market in years, and experts predict housing costs will continue
rising next year. Used car prices have also reached absurd levels, surging by
42 percent over the last 18 months. And energy costs are up 25 percent over the
past year and will likely continue to rise as we enter the winter months.

With Christmas season around the corner, shoppers are also being told to
expect higher prices for gifts. Salesforce, a national marketing company,
predicts that Christmas shoppers will face price increases of up to 20 percent.
These price surges are being caused by a combination of inflation, supply chain
problems, and a historic labor shortage, with a record 10 million unfilled jobs
across our economy. These stresses have driven up inventory costs for retailers
by an estimated $223 billion. And according to the Labor Department, businesses
who want to grow their production capacity are paying more to invest in
equipment than at any time since 1982. All of these new costs are being passed
on to consumers in the form of higher shelf prices.

Inflation Wipes Out Wage Gains

Our nation would be well positioned for a strong economic recovery if not for
persistent inflation. Most Americans who lost their jobs during the pandemic
have found work again, and wages have risen by five percent since the pandemic
began. Yet inflation has completely erased those gains. Pay has gone up, but
rising prices are outpacing American paychecks. This is the hidden tax on every
American, and it is getting worse because of liberal inflation policies.

Democrats Double Down on Inflation


Our economy is resilient, but it is drowning in federal spending passed
by Democrats this year. President Biden and his party seem unfazed by the
rising cost of living. They are now seeking to pass historic tax hikes and
trillions of dollars in more reckless spending, which I fear could trigger a
full-on inflation crisis. This is a socialist recipe for sending prices through
the roof and making it even harder to live the American dream.

 

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Thank you for your support,

Senator Roger Wicker

 

 

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