WASHINGTON — US Senator Joni Ernst (R-Iowa) spoke today in the Senate to discuss skyrocketing inflation rates and rising costs of consumer goods as a result of President Biden’s economic policies. With a “The Price is Right” themed wheel by his side, Ernst pointed to the reality that taxpayers in Iowa and the United States will be burdened with paying back the trillions of dollars borrowed to pay for “Bidenomics” in the United States. amid the growing national debt.
Click on HERE or on the image above to watch Senator Ernst’s remarks.
Senator Ernst’s full remarks are below:
“President Biden’s economic policies are causing sticker shock nationwide.
“The price of almost everything is higher today than it has been since Biden was last in the White House.
“The cost of consumer goods has increased every month since January, and the price hike over the past year is the largest annual increase since 2008.
“The Democrats’ response to this price hike is simply to spend more, which makes the problem worse.
“Paying people not to work contributes to labor shortages.
“Lack of labor leads to shortages of services and supplies.
“Combine these factors with billions of dollars in government spending and it all adds up to higher prices on everything for everyone.
“It’s a common story everywhere I go on my tour of the 99 counties.
“Because of Washington’s upside-down economic policies, small businesses are struggling to hire workers and families are paying more for less.
“Simply put, under Bidenomics the price is going up.
“Everyday products like diapers and paper towels are either more expensive or smaller, which has the same result: more money in our wallets.
“Whether you eat in or in a restaurant, the only thing you’re guaranteed to find on every supermarket shelf and in every restaurant menu is higher prices.
“A pound of sliced bacon has gone up by one dollar in the past year.
“And the fast food dollar menu is disappearing.
“We also pay more at the pump.
“A year ago, a gallon of gasoline cost about $ 2.18.
“Today the price is just under $ 3 in Iowa.
“Nationally, the cost has jumped to $ 3.15 per gallon and is expected to continue to rise through the summer.
“Meanwhile, rising shipping costs are pushing up prices for everything from coffee to furniture.
“Overall, Bidenomics led to the biggest increase in inflation in almost 13 years.
“For Iowiens on a budget, these unpredictable price increases make every purchase a real guessing game.
“They keep asking themselves if the price is right.
“To demonstrate how the costs are getting out of hand, I brought the ‘inflation wheel’ with me today.
“Each of the numbers on the wheel represents a price increase for a common household product.
“That will tell us exactly how much more Bidenomics costs hardworking Americans.”
“So, guys, let’s go ahead and try.
“Eight. Over the past year, the price of bacon has gone up about eight percent.
“Five. Over the past year, the price of clothing has gone up about five percent.
“Eleven. Over the past year, the price of auto insurance has increased 11%.
If you go to 17 there you will find that with hotel rates the price has gone up 17% last year.
“There are no winning numbers on this wheel. Again, each number represents the increase in the price of a common good facing American consumers. There are no winning numbers on this wheel.
“No matter how you run it, we just can’t afford Bidenomics anymore.
“I think the American people will agree, all of these prices have to come down.
“But instead of fighting inflation, Democrats are trying to outbid themselves on a massive new government spending program they call ‘human infrastructure.’
“Do you want to guess what the price proposed by the chairman of the Senate Budget Committee might be for this package?”
“Three and a half billion dollars.
“The endless donation of cash and prizes may make the Democrats in Washington look like they’re hosting a game show, but we all know it’s not a game.
“With our national debt approaching $ 30 trillion, the bills will eventually fall due – and who will be stuck with the bill?
“What rampant inflation doesn’t take out of American workers ‘paychecks the IRS will take to pay for the Democrats’ endless spending.
“We’re all going to pay back the trillions of dollars borrowed to pay for Bidenomics, both in higher taxes and higher consumption costs, and that price – it’s just not right.”