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President Biden is right about one thing – peoples’ lives are being changed.
Arlington, Va. – Earlier today in a speech to the AFL-CIO, President Biden dismissed the impact of massive new government spending on today’s historic inflation, saying, “I don’t want to hear any more of these lies about reckless spending—we’re changing people’s lives!”
AFP Vice President of Government Affairs Akash Chougule issued the following statement in response:
“President Biden is right about one thing – peoples’ lives are being changed. They’re paying $5 per gallon for gasoline. They’re paying nearly $500 more dollars every month for groceries and other essentials. They’re scouring empty shelves and relying on family and friends for baby formula. They’re more concerned than they ever have been about the future of the country, trust in government is near all-time lows, and they’re tired of politicians telling them being worse off is for the better.
“The truth is, the president should be thanking every legislator that held the line against the additional $4.7 trillion they were working so hard to ram through in the fall. Imagine where we’d be if Senators Manchin and Sinema had buckled under the intense pressure to rubber stamp another so-called ‘rescue’ package. Leaders of this administration ignored every warning they received about the dangers of inflation and now they’re blaming everyone but themselves for the results.
“It’s clear to anyone outside of Washington that massive government spending contributed significantly to inflation – and it was happening long before Russia invaded Ukraine. We’re not going to be able to change course until we’re honest about how we got here.”
Earlier this year, in a paper asking “Why Is US Inflation Higher Than In Other Countries,” the Federal Reserve Bank of San Francisco estimated that the American Rescue Plan contributed to U.S. inflation by about 3 percentage points.