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I hope you saw my latest weekly column.

 

ROGER WICKER: Biden Policies Driving Up Price of Daily Necessities
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President Biden can no longer ignore the inflation crisis that his
big-spending policies have created. Since the President took office, gas prices
have continued to soar, groceries have become painfully expensive, and the
price of a used car has skyrocketed. A typical family of four is now spending
$849 a month on groceries, up from $674 just one year ago. And with winter
approaching, home heating costs are expected to be at least 30 percent higher
than last year. President Biden’s massive spending and his war on American
energy are directly to blame for these out-of-control costs.

Inflation Rips Past Expert Predictions

New reports have revealed eye-popping inflation numbers that were even worse
than experts had predicted. According to the Labor Department, the price of
goods has risen 6.2 percent in the past year – the highest annual spike since
1990. In the last 12 months, gas prices have shot up by nearly 50 percent, used
car prices have risen by 26 percent, and new car prices have risen by a record
10 percent. Food costs are also through the roof. In one year, the price of a
gallon of milk has jumped from $3.38 to $3.66. The cost of beef and bacon has
risen 20 percent, eggs have risen 11 percent, and chicken nearly nine percent.
Larry Summers, a top economic advisor for two Democrat Presidents, predicts
this inflation will almost certainly last for another six to nine months, and
could well last longer.

Recently I met with a furniture executive who employs 35,000 people. He said
his manufacturing costs have gone up by a staggering 24 percent in the last
year. He also has 1,200 unfilled positions and is having trouble finding
workers. This same predicament is facing job creators across America, with
nearly half of small businesses saying they still cannot find enough employees.
This labor shortage is making it harder to meet consumer demand, leading to
more empty shelves at our stores.

Biden Policies Are Squarely to Blame

Some pundits have tried to defend the President, saying these price surges are
simply a result of the pandemic and are outside his control. That is nonsense.
The President has repeatedly fanned the flames of inflation, beginning with his
COVID “relief” bill in March, which pumped $1.9 trillion of unnecessary cash
into our economy. Government records show that inflation began to spike almost
immediately after that massive bill became law. Larry Summers called it the
“least responsible” fiscal policy in 40 years and now says the Administration
is “running enormous risks” with inflation.

The President is also directly responsible for soaring energy costs, which are
the result of his war on domestic energy. President Biden put American energy
producers on notice with his day-one decision to kill the Keystone XL pipeline,
which would have boosted our oil supply. He also suspended new drilling leases
on federal lands and waters, robbing us of a key source of oil and natural gas.
The Administration has even raised the possibility of closing a critical
pipeline between Canada and the Midwest, which could further drive up energy
costs. All of these policies have created a self-inflicted energy crisis for
which the President alone bears responsibility.

Worst Time for Tax-and-Spending Spree

It is distressing that President Biden is ignoring these inflation alarm bells
and forging ahead with his multi-trillion-dollar tax-and-spending spree. I hope
Senators Joe Manchin and Kirsten Sinema, two moderate Democrats, stand firm in
their views that this bill is a recipe for more inflation. The President needs
to abandon this reckless bill and start working with Republicans to bring
inflation under control.

 

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Thank you for your support,

Senator Roger Wicker

 

 

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