South Carolina Senator Tim Scott is blasting President Joe Biden's "Build Back Better" trillion-dollar spending agenda amid the rampant inflation that's driven up the price of everything from houses and cars to groceries, home goods, and clothing.
"There's no doubt that when you think about inflation, it's bone-crushing, life-changing, hope-stealing, job-killing inflation," Scott told Fox News Wednesday, speaking of the 40-year high, 6.8% inflation that's now hitting Americans in the wallet just in time for Christmas.
"There's no doubt in my mind that I'm thankful that it's no longer considered transitory. Finally, Chairman Powell is speaking the truth, which is that this is unprecedented," he continued. "The last time inflation was this high, I had an afro. And that was a long time ago, we’re talking the early 1980s."
"The truth is that we have to find a way to forge forward by reducing spending from the federal government and allowing raises in the private sector. That means that we have to pull back on this Build Back Broker plan that the Democrats are still trying to weave together," he added. "It is not good for the American family. It is not good for single moms to work paycheck to paycheck. This is frankly not good for rural America, where you have one grocery store or one gas station and you simply can't keep it all together."
The Federal Reserve was scheduled to meet at 2 p.m. Wednesday to discuss options as the Biden administration's claims that inflation is a temporary aftereffect of the COVID pandemic begin to fall apart. While the White House has been busing blaming everything from the pandemic to Trump to "greedy" meat companies for the sharp rise in consumer goods, the price of fish has climbed 12% over last year while beef is up a stunning 20%. Likewise, the average price of chicken has increased 7.5% and pork 14%. Gas is up more than a dollar over last year, hitting as high was $6 or $7 gallons in some areas.The cost of apparel is up more than 4%, while buying a new car will cost you an extra 12% this year compared to the end of 2020.
(Cover Photo: Gage Skidmore)