Reckless Spending Sent Inflation Skyrocketing. Democrats Want More.

Fueled by Democrats’ reckless spending, year-over-year inflation accelerated to a fresh 40-year high of 9.1 percent on Wednesday. Basic necessities like food, energy and shelter are powering the surge. The price of gasoline is up 60 percent year-over-year and housing costs are rising at the fastest pace in more than 30 years.

Fox Business: Inflation accelerated more than expected to a new four-decade high in June as the price of everyday necessities remains painfully high, exacerbating a financial strain for millions of Americans and worsening a political crisis for President Joe Biden.

The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods, including gasoline, groceries and rents, rose 9.1% in June from a year ago. Prices jumped 1.3% in the one-month period from May. Those figures were both far higher than the 8.8% headline figure and 1% monthly gain forecast by Refinitiv economists. 

Despite worsening inflation — and the risk of a recession — Chuck Schumer and Senate Democrats are negotiating a new bill filled with more reckless spending. The deal would reportedly include massive tax increases and damage an economy already struggling under Democrats’ leadership. 

Fox News: McConnell and his fellow Republicans have hammered Democrats for advancing their own, $1.9 trillion COVID bill in March of 2021. They contend that adoption of that plan hamstrung the U.S. economy. “Democrats are unifying the country in unhappiness on a dark path down which they’ve taken our economy,” observed McConnell.

And then McConnell took a direct swipe at Manchin — who is negotiating the latest Build Back Better incarnation.

“Our colleagues are reportedly cooking up a trillion dollars in massive tax hikes,” said McConnell. “I don’t know many Kentuckians who think Americans need fewer small business jobs or less American energy. I’m not certain about the good people of West Virginia, either.”

Bottom Line: Another reckless spending spree by Congressional Democrats would add more fuel to the raging inflation fire.