The October Consumer Price Index (CPI) numbers released Tuesday showed that the sky-high inflation that has defined President Biden’s administration is still hurting consumers. It’s nearly double the rate of inflation that President Biden inherited when he took office, and the American people are paying $709 more for the same goods they could purchase just two years ago.
In Case You Missed It, Rep. Earl L. “Buddy” Carter (R-GA) went on Fox Business to break down how inflation is hurting hardworking Americans, including South Georgians, and how the current federal government spending battle could bring some relief to our nation’s increasingly empty wallets.
Here are the highlights:
ON THE STATE OF THE ECONOMY:
"72% of Americans right now say they’re worse off than they were when the Biden administration took office."
"These [inflation] numbers are better, but they’re still not what they need to be."
ON SPEAKER JOHNSON’S TWO-STEP CONTINUING RESOLUTION (CR):
"I’m very optimistic that [the House will] get this two-step ladder plan passed…and avoid a Christmas omnibus, that’s one of our main goals."
ON AMERICA’S DEBT CRISIS:
"The four top line expenditures in our budget – number one, social security; number three, Medicare; number four, defense. Guess what number two is? The interest on our debt."
"We cannot continue this, this is unsustainable."
"We are trying to restore fiscal sanity. We’ve got $36 trillion in debt and the interest on that debt is killing us."
ON AI’s IMPACT ON THE ECONOMY:
"AI is one of the hottest subjects on Capitol Hill right now."
"I don’t think it’s going to replace health care professionals, but it’s certainly going to play a big role [in our health care system]."
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