Voices are being raised from both parties in Congress over the data indicating that inflation hit a 40-year high in January of 2022. One of the loudest voices of concern is Democratic Senator Joe Manchin from West Virginia. He talked about his fear regarding the impact on inflation that led him to vote against President Biden’s $2 trillion social spending package in December. Now Manchin is declaring that the American people are paying the “inflation tax.”
Manchin said, “For months, I have been ringing the alarm bell about inflation. Once again, we are witnessing that the threat of inflation is real. There is not a corner of this nation where hard-working families can escape the noticeable impact of this ‘inflation tax.’ Inflation taxes are draining the hard-earned wages of every American, and it’s causing real and severe economic pain that can no longer be ignored.”
His GOP colleague, Kentucky Senator Mitch McConnell, said while on the Senate floor those price increases are “crushing” the people of America.
McConnell said, “Experts had predicted another red-hot inflation report, around 7 percent. Even that alone would have meant we were still trapped inside the worst inflation in 40 years. But reality turned out to be even worse than that. It turns out inflation this past year hasn’t been 7 percent. It’s been 7½ percent.”
The Kentucky senator went on to describe if a person hasn’t gotten a pay raise of 8 percent or more in the last year, then the Democratic policies in place from the Biden administration have given that person a pay cut. McConnell said that this wasn’t about wealthy people’s financial inconvenience, it was about a significant price increase for essential goods that make up a large part of a typical family’s budget. He also said that the Democratic majority in government leadership was warned that their radical agenda was going to create havoc with inflation. But Biden’s team pushed forward anyway, and America is paying the price.
Manchin and McConnell were not lone voices that gave grave warnings. There were a number of House Republicans that were tweeted posts about 1982. That was the last time inflation reached at least 7.5 percent.
Georgia Republican Buddy Carter from Georgia tweeted that the last time inflation surged to this level, Michael Jackson released “Thriller,” E.T was first released in the cinema, and The Weather Channel first aired on cable television. He then asked what it would take for President Biden to address the present crisis.
South Carolina Republican Representative Jeff Duncan posted an old picture of himself in a football uniform. He said that the last time inflation was as high as it is now, he was in high school. He noted that inflation has increased each month that Biden has been in office and it will cost a typical household in America about $3,500 this year. He said that “Americans cannot afford a Joe Biden presidency.”
Amid these dire warnings, Democratic House Speaker Nancy Pelosi has continued to push Biden’s Build Back Better plan. She is saying that this plan was designed to be a crucial tool in fighting inflation. She, along with the president, keep talking about the long-term economic capacity that will ultimately help Americans be productive in the economy.
The message is basically to suck it up right now and, hopefully, in the future it will all take care of itself.
Biden said that there is real stress not at the kitchen tables of America, but there are signs that we will make it through this challenge.
You have to ask yourself, where? Where are the signs of hope? All we hear these days are warnings.