Inflation and Our Economy

Floor Speech

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Mr. BABIN. Madam Speaker, I thank my friend from Louisiana, the gentleman, for his leadership. I really appreciate it.

If Joe Biden valued America, if he valued our freedoms, our prosperity, our success, our influence on the world, he would value the security of our economy. He would value a balanced budget, and he would value your financial future.

But, of course, we know he doesn't. Your financial stability gets in the way of his agenda. The money that Biden asked for and that Democrats in this Chamber incessantly spend is not only just random dollars and cents from who knows where, but also money that you have earned from your hard work, money that should have been used to ensure you and your family see a stable and prosperous future.

Plain and simple, these antigrowth and pro-tax policies have us hurtling toward a recession and will destroy your ability to build the future that you want to have. It is no wonder that consumer confidence and the Democrats' agenda is reeling nationwide.

Last month, inflation increased at the quickest pace since December of 1981--8.6 percent over the past year. Those aren't just words. Inflation means that everything costs you more.

Inflation this high, rising that quickly, means that American families are now facing the very harsh reality that they could be on the brink of financial ruin which many respected economists now are fearing that the wheels may come off of our economy.

Commonsense solutions could have prevented most of this. Reckless socialist spending sparked the fire and paying workers to stay home fanned that flame.

The irresponsible policies coming out of the Democrat party spurred on a manufacturing and supply chain disaster like we have never seen before in our history--all for the sake of a woke socialist agenda.

I hope that they are proud of themselves. I hope that they are proud that they have caused energy prices to rise by more than 30 percent. I hope they are proud that gasoline is $5 a gallon across the country, nearly a 100 percent increase.

I hope they are proud that we still don't have baby formula on the shelves and that people cannot put food on the table because prices are way up, over 12 percent now, and that wages are shrinking, and that fewer women and minorities are in the workforce, and that the stock market is volatile and has lost trillions of Americans' wealth. I could go on and on.

My colleagues on the other side of the aisle are responsible for this, and it is time that they take responsibility and shift course before it is too late. Our very future hangs in the balance.

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Mr. BABIN. Amen.

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