Washington, DC (February 10, 2022) – Today, the U.S. Bureau of Labor Statistics released the Consumer Price Index for January. The all items index showed a 7.5% increase over the past 12 months, marking a 40-year high.
“Remember when President Biden said high inflation was ‘temporary’ and when Biden’s Chief of Staff said inflation was a ‘high class problem?’ They either didn’t know or didn’t care about how their ‘War on Small Business’ would create the worst inflation in four decades. The American people care, however, which is why they oppose Biden’s ‘Build Back Broke’ Act. Biden is promising to pass most of the bill in ‘chunks.’ If he’s successful, it will send inflation past Jimmy Carter levels. The first step to getting out of a hole is to stop digging. Biden and the Democrats won’t stop digging, which means we’re in for more economic pain in the weeks and months ahead.”