INFLATION
Congressional Record Vol. 169, No. 21
(Senate - February 1, 2023) PDF
Mrs. HYDE-SMITH. Madam President, in less than a week, President
Biden will deliver his State of the Union Address to the Nation. In the
buildup to that speech, we are already seeing the President and his
administration spinning a tale about just how wonderful things are in
this country, particularly after they took power and racked up more
than $3 trillion more in spending. Unfortunately, those tall tales do
not reflect the reality for the people in my home State of Mississippi
or across the Nation.
In the 2 years since President Biden took office, we have seen his
administration fail the American people time and time again. Inflation
was 1.4 percent in January of 2021, but the policies the President has
forced on this Nation since then have made daily living unaffordable
for families. Today, a strong majority of Americans--more than 70
percent--believe that the country is on the wrong track, and it is easy
to understand why. Too many workers and families now live paycheck to
paycheck, trying to keep the lights on, put food on the table, get gas
in their cars, and stock up on everyday essentials that they have to
have.
President Biden's inflationary runaway spending is a root cause of
the skyrocketed prices we are paying for all goods and services. Not a
single industry is spared the cost of this inflation. Since Joe Biden
took office, higher prices have cost families an additional $10,000,
and there seems to be no end in sight. Prices have gone up across the
board to 13.5 percent, and grocery costs have jumped 18.6 percent. Just
look at the price of essential staples: Chicken breast prices have gone
up by 33 percent, and ground beef, whole milk, and bread have gone up
by 21 percent.
Unlike President Biden, I actually have to take a trip to the grocery
store to feed my family. I do all of my own shopping, and I see
firsthand how these price increases affect the people of Mississippi.
In the checkout line, I have watched a mother forced to put something
back on the shelf after realizing that she can't afford everything in
her cart. I have seen a retired husband grabbing only the barest
necessities for the week. Up and down the aisle, as I push my buggy,
the conversation is constant on ``Can you believe how much the price of
groceries has increased and how expensive it is?''
It breaks my heart to see the individuals in my community and the
Nation struggling to get by. It shouldn't be this way, but in Joe
Biden's America, you are forced to weigh priorities on buying
groceries, prescription medicine, or putting gas in your car.
When it comes to energy prices, the hardship continues for many
Americans. This pain is 100 percent self-inflicted by the Biden
administration's stubborn refusal to maximize American energy
production. According to census data, about 22 percent of American
households could not pay their energy bill last year. When families
were actually able to pay, they had to sacrifice other necessities,
such as groceries, their medicine, or their gasoline.
This winter isn't bringing any relief either. Compared to last
winter, the average household will spend upwards of 28 percent more to
heat their home with natural gas, according to the Energy Information
Administration. Electricity rates are also expected to continue to rise
due to lower domestic supply of liquefied natural gas as well as labor
shortages and the cost of materials. But this should come as no
surprise since the attack on American energy began on day one of the
Biden Presidency. In fact, this administration's regulatory overreach
also contributes to rising costs across our economy.
Despite record-high prices, Joe Biden wants to further regulate the
agriculture industry. The Food Safety and Inspection Service, for
instance, is studying line speeds of poultry plants with the ultimate
goal of just slowing them down, which will affect costs and supplies in
the grocery stores. In addition, the EPA recently unveiled its new
waters of the United States rule, which will further hamper the ability
of farmers to grow food because the Federal Government will have the
ability to regulate ditches and low spots on private land.
It is a basic fact that it is expensive to comply with overly
burdensome regulations. The Biden administration's desire to
overregulate everything makes it seem as if the President wants
Americans to struggle to afford food.
Madam President, the American people are smart, and they understand
when things aren't going well.
The rosy stories the White House will barrage us with before the
State of the Union Address won't change the fact that the American
dream seems further from attainable for hard-working families because
we just cannot afford Joe Biden.
My colleagues and I want to get our economy back on track to relieve
the financial stress that families are experiencing. We must stop the
irresponsible government spending, unleash American energy production,
cut regulations, and embrace pro-growth commonsense policies. The
American people deserve that.
I yield the floor.