Jackson Purchase News

U.S. Senate Republican Leader, Mitch McConnell, criticized President Biden's economic policies, known as Bidenomics, in a speech on the Senate floor. McConnell highlighted the persistently high prices and inflation under the current administration.

The latest October inflation report revealed that prices remain stubbornly high, surpassing the Federal Reserve's target of 2 percent. McConnell stated, "Prices are up 3.2 percent year over year. And cumulative inflation since the President took office now clocks in at 17.6 percent."

McConnell emphasized the frustration felt by working Americans who are experiencing the expensive new normal. He pointed out that the price of a gallon of milk has risen by 15.8 percent since January 2021, while a gallon of gas is now 54.8 percent more expensive.

Quoting a small business owner in Texas, McConnell highlighted the widespread impact of rising prices, stating, "I’m trying to think of one area where prices have eased, and I can’t think of anything."

Referring to President Biden's statement that "Bidenomics is just another way of saying 'the American Dream'," McConnell expressed his skepticism, asserting that the American people are not buying into this idea. He cited a recent survey in which only 14 percent of US voters believed that President Biden had made them better off, and 65 percent of voters reported cutting back on non-essential spending.

In conclusion, McConnell challenged President Biden's assertion that Bidenomics represents the American Dream. He urged the President to pay closer attention to the struggles faced by many Americans, stating, "So, if the President thinks that Bidenomics is the American Dream, he might want to pay closer attention to how many Americans are desperate to wake up."

The remarks by Senator McConnell shed light on the concerns surrounding Bidenomics, particularly the persistent high prices and inflation that have affected working Americans. The criticism suggests that there is a growing dissatisfaction with the economic policies of the current administration.

To learn more, click on this link: https://www.mcconnell.senate.gov/public/index.cfm/pressreleases?ID=A98D89FE-E517-43C9-A15D-27810128F96D