WASHINGTON, DC—U.S. Representative John Rose (TN-6) highlighted growing inflation on the House Floor Friday, and proposed ways for the Biden Administration to combat rising costs.
The full speech, as prepared for delivery, is below:
Madam Speaker, Consumer prices climbed another 1.3% last month, bringing the nation’s total rate of inflation to 9.1%. The cost of making goods shot up, too. The producer price index hit a whopping 11.3%. It’s costing Tennesseans and all of America an extra $5,000 a year.
And there seems to be a growing consensus that we’re heading toward a recession. I continue to believe it didn’t have to be this way. The Fed wouldn’t have to raise interest rates had President Biden and Congressional Democrats resisted the urge to borrow and spend trillions and trillions of dollars we did not have and couldn’t afford to spend.
What’s their solution for getting us out of this mess? Even more spending. But only increasing the domestic production of our natural energy resources can get us back on track. President Biden appears to prefer the destruction of our country’s fossil fuel energy industry rather than using it to bring the price of gasoline and diesel back down.
You can watch the full speech here.
Original source can be found here.
