RNC STATEMENT ON HIGHEST INFLATION IN 40 YEARS
WASHINGTON – Today, Republican National Committee (RNC) Spokesperson Emma Vaughn released the following statement on the Department of Commerce’s latest inflation numbers, showing the largest price spike in 40 years:
“Americans are facing rising prices for nearly everything, as inflation surges to the highest level in 40 years. Biden’s reckless spending and failed economic agenda is crushing working families. Voters know Biden is to blame, and they’ll hold Democrats accountable come November.”
Background:
- The Department of Commerce’s personal consumption expenditures price index (PCE) spiked 6.4% from a year ago, the largest increase in 40 years.
- A new report from the Federal Reserve Bank of San Francisco found what 70% of Americans already know – Biden’s $1.9 trillion boondoggle fueled inflation.
- Former Obama economic advisor Steve Rattner: “this is Biden’s inflation and he needs to own it.”
- Americans know they cannot afford Joe Biden:
- According to a new Morning-Consult poll, by a 14-point margin Republicans are more trusted than Democrats on inflation.
- In a recent Quinnipiac poll, 30% of Americans say inflation is the most urgent issue facing the country.
- 41% of Americans blame Biden for gas prices.
- 39% of Independents blame Biden for gas prices.
- According to a new NBC News poll, a plurality of voters blame Biden for inflation, and only 33% of Americans approve of his handling of the economy.
- If Biden’s budget were adopted, debt would reach a new record by the end of the decade, growing by over $15 trillion.
- Under this budget, the national debt would be $45 trillion by 2032.
- At a time when inflation is raging, Biden’s budget proposes trillions more in government spending.