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Floor Speech

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Mr. McCONNELL. Mr. President, the American people's No. 1 priority is runaway inflation that is smashing their family budgets and crushing our economy.

Yesterday, the latest inflation report showed that soaring prices are still completely out of control. Inflation has totaled 13.2 percent since the day President Biden took office. We just had the worst 12 months for both food inflation and electricity inflation since the fallout from the Carter administration.

President Biden and our Democratic colleagues chose to celebrate-- celebrate--this awful inflation report with a so-called inflation reduction party yesterday at the White House. While the Dow Jones plummeted over 1,000 points, while the S&P 500 lost more than 4 percent of its value in 1 day, while American families can't afford gas, groceries, or electricity, Washington Democrats partied on the White House lawn to celebrate their policies. That is what happened yesterday.

This is what Democrats do while our economy crumbles. They subsidize luxury electric cars; they make plumbers and retail workers eat the graduate school debt of doctors and lawyers; and they throw a party for themselves on the White House lawn.

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