Republican senators on Wednesday blasted the Biden administration for rising inflation after a new report from the Bureau of Labor Statistics found a 9.1% spike for the 12 months ending in June, the highest level in four decades.
Sen. Mike Crapo said tax increases under consideration in revived negotiations for a scaled-back version of President Joe Biden’s sweeping social welfare and green energy bill would raise consumer prices further, targeting the people Democrats “say they champion,” including low-income workers.Sen. John Cornyn said, “There’s an old expression that when you find yourself in a hole, quit digging. But that seems like what the Biden administration continues to do.
Cornyn called inflation a “silent tax” and argued the administration doesn’t understand the problem of “supply and demand” in energy production, contributing to increased costs.Sen. James Lankford compared Biden’s trip to Saudi Arabia to one made by President Jimmy Carter and argued that it would lead to similar results.Biden has said his trip will focus on security concerns, but oil is also expected to be a topic of the trip.
Voter concern about rising inflation has cut into Biden’s approval ratings leading up to November’s midterm election cycle, a weakness Republicans have argued will help them reclaim congressional majorities.In a statement, Biden called the inflation rate “unacceptably high” but argued that the data contributing to it are “out of date,” and he pointed to Russian President Vladimir Putin’s invasion of Ukraine and COVID-19 as other factors.
“Inflation is our most pressing economic challenge,” Biden said. “It is hitting almost every country in the world. It is little comfort to Americans to know that inflation is also high in Europe and higher in many countries there than in America. But it is a reminder that all major economies are battling this COVID-related challenge, made worse by Putin’s unconscionable aggression.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden bottoms out: Record low percentage of voters want Biden to run in 2024A stunning 18% of voters want President JoeBiden to pursue reelection in 2024, marking the lowest figure to date as his approval rating continues to plunge, according to a new poll.
Read more »
Stefanik rallies GOP support around bill to hold Biden admin accountable for 'inflation crisis'Republicans are introducing a new bill to hold the Biden admin accountable for rising inflation, by requiring inflation impact to be taken into consideration in executive actions.
Read more »
EXCLUSIVE VIDEO -- Rep. Mayra Flores: Biden Admin Encourages Illegal ImmigrationExclusive Interview: Rep. MayraFlores2022 says Biden's policies are encouraging people to risk their lives by trying to illegally enter the U.S.
Read more »
Biden admin officials are 'neo-Marxist ideologues,' want to reshape economy into 'collectivist' model: CrowleyFormer Trump official Monica Crowley and economist Steve Moore explored the causes of inflation skyrocketing to a record 40-year-high in June on 'Hannity.'
Read more »
Biden admin: Pharmacies can’t discriminate on reproductive health scriptsThe Department of Health and Human Services said Wednesday that pharmacies receiving federal money from programs such as Medicare and Medicaid cannot discriminate in how they supply medications or advise patients on prescriptions.
Read more »