Unfortunately, the President has continually waged war on American energy.
SENATOR ROGER WICKER OFFICE FULL
With record-breaking gas prices, we should be taking full advantage of our abundant domestic energy resources. Until the President takes responsibility for this crisis and shifts course, we will all quite literally be paying the price for his mistakes. He then said the solution is to impose more taxes on job creators. Instead, he blamed Vladimir Putin’s invasion of Ukraine, which took place 10 months after prices had already been soaring across our economy. Recently, he insisted that “government spending more” had no effect on inflation. Many on the left are now admitting that Democrat spending stoked inflation. If it had passed, inflation would be even worse than it is now. His $3.5 trillion plan was stopped only when Democrat Senator Joe Manchin, out of concern for inflation, joined all 50 Senate Republicans in opposing the bill. Even as prices began to soar last fall, the President refused to face reality, saying the inflation was “transitory.” Instead, he led Democrats in trying to pass even more reckless spending.
Last year, Republicans warned Democrats that their enormous $1.9 trillion “stimulus” bill would overheat the economy. The President and his party should have foreseen these inflationary impacts from their own spending policies. As we enter the summer, we are still worlds away from the recovery President Biden promised. We can expect further dips as the Federal Reserve continues raising interest rates to fight inflation. In the first quarter of this year, our gross domestic product shrank by 1.4 percent. This out-of-control inflation is starting to slow our economy, causing fears that a recession may be coming. It seems we have escaped the pandemic only to be stuck in the mire of a Biden inflation crisis. In addition, hotel rates have risen 40 percent since last year, and airfares are up 40 percent since January, forcing many to rethink travel plans. Groceries are up 10 percent from last year, and restaurants are having to raise menu prices or cut portions. Meanwhile, diesel has hit a national average of $5.57 per gallon, driving up prices for almost anything that moves by rail or truck. Today we are paying over $4 per gallon, taking a huge bite out of our budgets. This time last year, we were paying $2.70 for a gallon of gas in Mississippi. By now we have all experienced sticker shock, the sense of disbelief that prices have risen so incredibly high.
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