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DEMOCRATS' RECKLESS SPENDING AGENDA
The SPEAKER pro tempore. Under the Speaker's announced policy of January 4, 2021, the Chair recognizes the gentleman from North Carolina
(Mr. Murphy) for 30 minutes.
Mr. MURPHY of North Carolina. Madam Speaker, when you pull into a gas station or visit a grocery store this week, you will notice something different. Consumer prices are up across the board. Make no mistake, this financial strain is a direct result of the Biden administration's out-of-control spending. It is hurting millions of Americans across the Nation. In fact, nearly 9 in 10 Americans have reported a serious concern about the rise in prices. The reality is inflation, perhaps more accurately called Biden-flation, which is climbing at the highest rate in 13 years. Gas prices are up 45 percent; used car prices up 45 percent; and the cost of breakfast, lunch, and dinner has gone up for every single family.
These staples are necessities for every family in this country and their prices are rising because of the Democrats' reckless spending agenda. There is no doubt that the Democrats' nonstop Big Government spending is placing tremendous financial stress on the American family. What is worse, Democrats have failed to acknowledge that their outrageous spending has the most devastating impact on low-income Americans, many of whom have to spend beyond their means to afford the basic cost of goods and services.
Let me make this very clear. Inflation is a regressive tax that disproportionately affects the poor. Democrats are completely out of touch with the American people. To them, inflation is transitory; nothing to worry about. To the North Carolinians that I represent and speak with every day, inflation is now a real and present problem.
What is the Democrats' solution to soaring prices and high prices? Borrowing more money, another $3.5 trillion of taxpayer money to put toward new spending and tax hikes.
There is a life lesson here. If you are in a hole, stop digging.
Republicans understand that in most households, every dollar counts. But in Biden's economy, all Americans are having to pay more now to get less. We must reverse these disastrous policy decisions to save jobs, protect long-term investments, sustain economic progress, and most importantly, keep more money in taxpayers' pockets.
Madam Speaker, I yield back the balance of my time.
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SOURCE: Congressional Record Vol. 167, No. 128
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