Inflation is still stinging Americans, Republican Sen. Rick Scott said Wednesday, arguing Washington must rein in spending to bring prices under control after years of scorching increases.
“Skyrocketing prices for groceries, gas and utility bills across the nation due to the Biden-Harris administration’s failed policies and reckless spending has destroyed the American dream for so many,” Mr. Scott, Florida Republican, said, previewing an attack line that former President Donald Trump and GOP lawmakers will use in the homestretch to Election Day.
Consumer prices rose 0.2% from June to July, according to federal inflation numbers released Wednesday.
The year-over-year increase was 2.9% — the lowest level since March 2021. But consumers are still contending with prices that shot up after the pandemic and remain high, even if the rate of increase is easing.
“It can feel like digging a hole too deep to climb out of. I am always optimistic about the future of America and our ability to save the American Dream, but we need new leadership that will end the reckless spending and dangerous socialist policies that got us into this mess and are now crushing hardworking Americans every single day,” Mr. Scott said in the press release.
Mr. Scott pointed to data that showed eggs cost 19% more than a year ago, while butter has risen 6% and rent and electricity are up around 5% apiece.
Mr. Biden’s critics say his stimulus checks and other spending distorted the supply-and-demand structure that determines prices, sending costs skyward.
The Biden administration says cooling price pressures mean its economic agenda is paying off. The White House accuses corporate interests of keeping prices artificially high even though supply chains have settled into post-pandemic normalcy.
“We have more work to do to lower costs for hardworking Americans, but we are making real progress, with wages rising faster than prices for 17 months in a row,” President Biden said.
Mr. Biden and Vice President Kamala Harris are scheduled to address high costs Thursday in Maryland. It’s their first major appearance together since Mr. Biden dropped his reelection bid and endorsed Ms. Harris to lead the Democratic ticket.
“Prices are still too high. Large corporations are sitting on record profits and not doing enough to lower prices,” Mr. Biden said Wednesday.
Ms. Harris will follow up the Maryland trip with a stop in Raleigh, North Carolina, Friday to give a speech on lowering costs and combating “corporate price gouging.”
Mr. Trump will be in North Carolina — a key prize in November’s election — to deliver a speech on the economy in Asheville on Wednesday.
• Tom Howell Jr. can be reached at thowell@washingtontimes.com.
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