Understanding that
inflation
is essentially a tax that hurts everyone, especially seniors and those living on a fixed income, I recently warned my colleagues about inflation hitting 7.9% year-over-year growth in February. I also discussed the impact that inflationary pressure, which is at the highest level that America has faced in more than 40 years, is having on my constituents.
During each of my recent town hall meetings and through weekly surveys, my constituents have consistently pleaded for inflationary pain to stop. Seniors have told me their annual cost of living has been absorbed 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 are unable to keep pace with increases in the price of raw materials without raising prices.
This critical feedback is one of the main reasons I was compelled to vote no on last week’s $1.5 trillion spending bill. While there were individual provisions of the legislation that I supported, I am worried that more massive 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 as the worst year for inflation since 1981. As a result, people are now paying more for just about everything.
Used cars and trucks are up 41.2%. Gasoline is up 38%. Lodging away from home is up 25.1%. Bacon is up 18.8%. Peanut butter is up 15.6%. Pork is up 14%. Women’s dresses are up 13.5%. Airline fees are up 12.7%. New vehicles are up 12.4%. Eggs are up 11.4%. Coffee is up 10.5%. Baby food is up 8.4%. Transportation services are up 6.6%. Beer is up 5.3%.
The White House and some Democratic members of Congress are trying to blame record inflation on the recent
war in Ukraine.
But the facts do not support this assertion.
Inflation has accelerated every single month of
Joe Biden’s presidency.
It skyrocketed after the enactment of his $2 trillion spending bill, which I opposed approximately one year ago.
Last week’s report from the Bureau of Labor and Statistics contained alarming news about the health of the U.S. economy. The report highlighted a full year of raging inflation that has knocked out three full years of wage gains for workers and pensioners. The same report indicates that real wages have decreased 2.6% from February 2021 to February 2022. This is the fastest-paced decrease in recorded history.
Many experts believe that the economy is in a wage-price spiral and could be headed for recession. Instead of addressing the root cause of inflation, out-of-control government spending, Biden and House Democrats continue to deflect, blame Russia, and push their far-left socialist agenda. My constituents deserve better. They deserve the truth. Russia invaded Ukraine on Feb. 24, 2022. The inflation that has infiltrated all aspects of life has been occurring for more than a year.
People are not stupid. They know this inflation is not a fluke or the result of the tragedy occurring in Ukraine. It is the direct consequence of more than a year of left-wing policies and reckless government spending. Even liberal economists are calling Biden “disingenuous” for his inflation excuses. Former Clinton and Obama economic adviser Larry Summers said that Biden was “wrong” to blame the sky-high 7.9% consumer price hike on the Ukraine war. Former Obama economic adviser Steven Rattner noted, “This is Biden’s inflation and he needs to own it.”
“Owning it” does not mean continuing to ignore the problem and doubling down on failed policies. My colleagues’ continued obsession with more government spending will only exacerbate and extend this economic crisis.
This is not the America that my constituents want to live in. They want their elected officials to tighten their belts and live within their means. They are having to make difficult decisions to balance their household budgets, and they believe their government leaders should do the same. They expect commonsense solutions and are begging us to make the pain stop. I urge my colleagues to consider the very real challenges that families are facing and stop the reckless spending.
Gus Bilirakis represents Florida’s 12th Congressional District in the U.S. House of Representatives.
