After a Labor Department study revealed that inflation jumped by 8.5% on average over the period year, Sen. Joe Manchin (D-WV) and congressional Republicans slammed President Joe Biden’s fiscal plans.
Biden is Clearly to Blame
Inflation has risen at a breakneck pace since Biden entered office, with common necessities like bread and fuel frequently outpacing the total rate.
As per the Consumer Prices reported by the Labor Board on April 12, the overall rate of inflation for the last year was 8.5 percent. However, total food price inflation outpaced this by a median of 8.8%.
Over the last year, the aggregate price of energy has nearly doubled the rate of inflation, reaching 32 percent. The cost of gasoline has risen even quicker, with prices now standing at 48 percentage points higher than a year ago.
In response, Manchin, who has been a vocal critic of Biden’s financial and banking policies, slammed the findings.
Blaming Biden for inflation is just a conspiracy theory pic.twitter.com/xmHMlOVUc5
— Adam Crigler (@AdamCrigler) April 12, 2022
“Let me be clear: hyperinflation is a tax,” Manchin stated. “Today’s record inflation data tells a further shocking story about how these levies on Americans are absolutely out of control.”
“As prices continue to rise, hard-earned salaries and financial savings vanish faster each month, while the agony and aggravation of paying more on ordinary products hover over us all, particularly among those who can least afford it.”
“When will this be over?” he asked. “Acting as if inflation is a new phenomenon is disrespectful to the American people.”
“The Federal Reserve and the government did not respond quickly enough; today’s data provides a glimpse of the ramifications that are being felt throughout the nation.”
The Government Does Nothing
Rather than taking significant action, our elected officials and the Federal Reserve keep responding with half-measures and verbal blunders, looking for someone to blame.
The American people are entitled to the truth about why historic inflation is occurring and what has to be done to get it under control.
Rising inflation fuels Democratic fears as Biden faces mounting woeshttps://t.co/Hkwbjux9UE
— Fox News (@FoxNews) April 13, 2022
“Let’s face it: we can’t spend our way to a healthy, thriving economy while simultaneously adding to our $30 trillion government deficit.”
“In order to get inflation under control, the Federal Reserve will have to operate more aggressively after waiting far too long.”
“It asks that the president and Congress, both Democrats and Republicans, adopt a strong energy policy because it is the only way to lessen gas and energy prices while battling climate change.”
The United States of America is prepared to be self-sufficient in Russia and other terror-supporting countries, while also working to oppose climate change and break our reliance on China for crucial mineral supplies.
“Today’s inflation figure is just the conception unless we take decisive measures to alleviate the agony being felt across our country. This is one issue that no single political party in the United States can solve. The American people can no longer wait.”