(The following article is an opinion piece and does not necessarily reflect the views of iFIBER ONE News, iFIBER Communications, or its staff)
On Friday, the Labor Department announced that consumer prices increased by 6.8 percent in November compared to last year, the largest annual increase in over 39 years. If that doesn’t make apparent the impacts President Biden’s policies are having on American families to my progressive colleagues, I don’t know what will.
Americans deserve fiscal responsibility. With the stranglehold the far left has on the Democratic Party, we’ve seen anything but that.
Trillions of dollars in wasteful spending has been rammed through Congress over the last year, and now, we’re paying the consequences. From skyrocketing prices and a supply chain crisis to tax hikes on families and small businesses, it’s clear that this administration’s policies are directly hurting our economy.
Since President Biden took office, families have lost nearly three years’ worth of real wage growth, which is devastating for families and seniors who live on fixed incomes. And, nearly 50 percent of Americans report experiencing financial hardship as they deal with these increased costs. To put the inflation rate in perspective, a household making $50,000 in 2020 would need almost $3,700 more each year to have the same buying power today. That means American families today have less money for savings, emergency expenses, and retirement.
I’d like to tell my Democratic colleagues to wake up and smell the bacon, but with the 21 percent increase in its cost, I doubt many of them will be able to afford it much longer.
To make matters worse, instead of addressing the root cause of inflation—out-of-control government spending—President Biden continues to push his multi-trillion-dollar tax and spending spree which will only exacerbate America’s economic crisis. What’s more, he has blatantly ignored the truth about this package.
On Friday, the Congressional Budget Office released their report on the socialist spending spree that the president claimed to cost “zero dollars.” According to their analysis, if the more than 150 new programs and expansions in the Build Back Better Act are made permanent, it would cost Americans $4.9 trillion, and add over $3 trillion to the national debt.
Perhaps the Democratic leadership and I calculate zero differently.
If President Biden is truly trying to do something “better” for the American people, then it’s time to stop the massive spending, stop crippling American energy independence, stop enacting unilateral mandates, and start listening to the American workers and small businesses who make our economy thrive.
The socialist spending sprees the Democratic Party has continued to push through Congress are bad for Central Washington, and I urge my colleagues in the Senate to put a stop to the latest of these inflationary packages, the Build Back Better Act, before this crisis gets any worse.
It’s time to cut taxes, get our inflation under control, and get government out of the way so we can finally begin to recover.