Jackson Purchase News

U.S. Senate Republican Leader Mitch McConnell (R-KY) addressed the Senate floor today, expressing his concerns about the current economic state under President Biden's administration, a term he coined as "Bidenomics."

"Twice in the last week, President Biden has suggested that inflation was 9% when he took office and claimed credit for bringing it down. The Washington Post gave him a rating of four Pinocchios for that very tall tale," McConnell stated.

Contrary to the President's claim, McConnell highlighted that inflation in January 2021 was only 1.4%. As of this month, prices have increased by a staggering 20% since then.

McConnell further pointed out the financial burden on average U.S. households due to this surge in prices. "By one estimate, the average U.S. household has to spend an additional $1074 every month to maintain the same standard of living they had when President Biden took office," he said.

Drawing from public sentiment, McConnell quoted a thirty-two-year-old engineer from Nevada who voted for President Biden in 2020 but is now frustrated with how the White House frames the economy. He also mentioned small business owners who are grappling with increased costs for materials, labor, and other operating expenses.

He cited an example of a fourth-generation roofer from New York who reported significant price increases over the past four years and a small printing company owner in Washington State who described painful price hikes as 'death by a thousand paper cuts.'

McConnell concluded his remarks by stating: "The American people are tired of price increases. They are tired of lies about it. And it's safe to say they're tired of Bidenomics."