With inflation continuing to rage, American families are suffering in this cruel economy, Ways and Means Republican Leader Rep. Kevin Brady (R-TX) warned on Fox Business Tonight on Fox Business. “I worry the president’s really misleading Americans about the severity of inflation and how cruel the economy he created really is,” Rep. Brady said in a conversation with former Rep. guest host former Rep. Sean Duffy.
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This is a cruel economy for workers, families, and especially seniors.
“This is terrible news for workers, for families, certainly for seniors as well. Here we are nearly a year after President Biden promised Americans that inflation had peaked. Here we have core inflation at the highest on record during his presidency.
“It is clearly housing costs that are just crushing – both rents and housing – and mortgage rates are now at a 20-year high. Health care saw a nearly 30 percent increase in one year. That’s the highest level on record. That’s crushing for seniors and working families.
“So what’s in the pipeline that drives inflation? A couple of things: A wage-price spiral. No one wants to be in that because, ultimately, it drives inflation high, and it ends up in a recession. We also have a worker shortage driving inflation in a big way. At the end of day, I worry the president’s really misleading Americans about the severity of inflation and how cruel the economy he created really is.”
President Biden is going to continue pursuing punishing policies that make inflation worse.
“It’s troubling that President Biden says that everything’s fine, he’ll just stay on course. But the truth of the matter is we know there’s a different course – after our Republican tax cuts, we saw the economy growing, not shrinking. We saw more workers connect to jobs, not fewer. We saw paychecks going up twice as fast as inflation, and we lifted millions of Americans out of poverty, exactly the opposite of what this President is doing today.
“And yet President Biden still doesn’t understand the damage he’s doing. Right now we’re seeing families skipping meals, digging into savings, delaying retirement, looking for extra work. Now they have given up a full month of their paycheck and then some to President Biden’s economic leadership.”
This White House squandered the economic recovery.
“The basic thing you want a president to do is help keep an economic recovery after the pandemic going. The president bungled a very strong economy and a very strong recovery.
“Now we’re in deep trouble as an economy, Americans, and some experts believe the country will have to shed 6 million jobs to try to fix Joe Biden’s bungling of this recovery.
“Americans know it, they feel it, and they’re going to want a change, including some checks and balances in Congress going forward.”