Biden Spending Drives Inflation to Highest Level Since 1982

Today, the U.S. Department of Labor announced inflation has risen to 6.8% - a 39-year high. Prices for gas, vehicles, rent, furniture, and air travel have all increased, with gas increasing by 6.1% for the second straight month. According to a recent survey, 60% of small businesses have been forced to raise prices in the last three months; 80% are facing increased labor costs; and 72% are facing price increases from suppliers.

"Inflation is hurting Michigan families and seniors, who are paying more everyday for what they need, including gas and groceries. Under President Biden, they have been forced to take a pay cut because their money simply does not go as far as used it to," said Congressman John Moolenaar. "I will continue to oppose Biden's partisan "Build Back Better" plan because we know the trillions he has already spent this year has contributed to the higher prices everyone is paying right now."

Previously:
October 29: Regional Federal Reserve Analysis Finds Biden's Spending Stoked Inflation

November 16: Former Obama Advisor Stephen Rattner says, "The original sin was the $1.9 trillion American Rescue Plan, passed in March... That has contributed materially to today's inflation levels."