On Thursday, Sen. Joe Manchin (D-WV) criticized Joe Biden and the push for additional funding for his spending bill due to rising inflation and the national deficit.
The same day, inflation was reported at 7.5% by the Bureau of Labor Statistics, the highest it’s been in the past 40 years.
Manchin responded with the following statement:
“For months, I have been ringing the alarm bell about inflation. Once again, we are witnessing that the threat of inflation is real. There is not a corner of this nation where hard-working families are able to escape the noticeable impact of this “inflation tax”. Inflation taxes are draining the hard-earned wages of every American, and it’s causing real and severe economic pain that can no longer be ignored. It’s beyond time for the Federal Reserve to tackle this issue head on, and Congress and the Administration must proceed with caution before adding more fuel to an economy already on fire. As inflation and our $30 trillion in national debt continue a historic climb, only in Washington, DC do people seem to think that spending trillions more of taxpayers’ money will cure our problems, let alone inflation.
“We must get serious about the finances of our country. It’s time we start acting like stewards of our economy and the money the American people entrust their government with. Now, more than ever, we must remember it is not our money, it’s the American people’s money. It is not our economy, it’s their economy. We all have a responsibly to do all that is possible to roll back inflation and manage our debts because the longer we or the Federal Reserve waits to act, the more economic pain will be caused.”
The response is a hard blow to Biden’s proposal for more funding for social and climate change, and will likely not pass since the White House needs his approval.
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