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Brady: Resurgence of Higher Prices Has Families Digging into Savings, Delaying Retirement, and Adding Historic Levels of Debt

December 01, 2022

After the Bureau of Economic Analysis released its report for November’s personal consumption expenditures (PCE) showing core prices continued to increase (.2 percent from the previous month), Ways and Means Republican Leader Rep. Kevin Brady (R-TX) released the following statement:

“There is little relief for workers or families in this report. Monthly inflation rates have increased two of the past three months, and are well above the monthly rates seen this past summer. No, President Biden, inflation is not ‘zero.’

“This resurgence of higher prices is why families are digging into their savings, delaying retirement, working second jobs, and adding more debt than at anytime in the past 15 years. And with a looming Biden recession, many Americans are now afraid they will lose their job.

“For most Americans, this continues to be a vey cruel economy.”