Inflation Surges to Highest Rate in 13 Years

Inflation Surges to Highest Rate in 13 Years

Joe Biden, Kamala Harris and congressional Democrats are driving inflation to record levels with their out-of-control spending. This is bad for working class American families and a threat to the economic recovery.

June 11, 2021
Inflation Surges to Highest Rate in 13 Years

Joe Biden and Kamala Harris’ dangerous economic policies have driven the inflation rate to 5%, the highest rate since 2008. The core-price index, which excludes certain consumer goods with volatile prices, rose 3.8%, the largest increase since 1992.

This rapid increase in prices is hitting an American economy still recovering from the pandemic, making it more difficult for hardworking families to afford staples like groceries and fuel. High levels of inflation disproportionately impact working families and those on fixed incomes. 

Wall Street Journal: “As a result, General Mills, Campbell Soup Co. , Unilever PLC, J.M. Smucker Co. and other big food companies are raising prices. Some increases are already visible on supermarket shelves, and more are coming this summer.”

Republicans are sounding the alarm, warning that more big spending from the Biden-Harris administration could make the situation even worse. 

New York Times: “It ought to have a sobering effect on anyone who digs in their heels that somehow the country needs more stimulus, or that the country needs more free money,” said Senator Kevin Cramer, Republican of North Dakota and a member of the Senate Banking Committee.

“This is the largest year-over-year increase in prices since the Great Recession, and massive stimulus spending is a contributing factor,” Senator Mike Crapo, Republican of Idaho, wrote on Twitter. “Proposals for further federal spending, coupled with job-killing tax hikes, are not the remedy for economic recovery.”

Further, House Republicans introduced legislation that would force committees to consider whether bills “may have an inflationary impact on prices and costs in the operation of the national economy.”

Bottom Line: Joe Biden, Kamala Harris and congressional Democrats are driving inflation to record levels with their out-of-control spending. This is bad for working class American families and a threat to the economic recovery.