OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Skyrocketing Inflation

Floor Speech

Date: Nov. 3, 2021
Location: Washington, DC

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Mr. BILIRAKIS. Madam Speaker, this Thanksgiving is expected to be the most expensive in history due to skyrocketing inflation. Americans are also being warned that their Christmas presents will cost more and might not arrive on time due to the supply chain disruptions. I hope that doesn't happen.

President Biden's and House Democrats' out-of-control spending policies are to blame for both the economic and supply chain woes. To make matters worse, they are now pushing a made-in-America tax, which will only drive businesses and jobs overseas and further devastate our troubled economy.

There are plenty of signs that our economy is significantly struggling, unfortunately. Most recently, the GDP growth decelerated to 2 percent in the third quarter. This is the slowest growth rate since the start of the pandemic-era recovery. Real disposable personal income also decreased another 5.6 percent in the third quarter after decreasing a staggering 30.2 percent in the second quarter.

We must reverse course and abandon these irresponsible policies rather than continuing to compound the economic pain.

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