Inflation sucks. Period.
Essential goods costing more than they used to impacts working and middle class families the most. And rising costs are the last thing anyone wants for American families to face, especially as we finally emerge from a devastating pandemic.
Unless, seemingly, your political party hopes to regain control of Congress in this year’s midterm elections. What other explanation is there for Republican glee over a consistent rise in the Consumer Price Index?
“You can see what’s going to happen next. We’re going to continue to have inflation, and then interest rates will go up,” Scott told the Wall Street Journal, clamoring for the Federal Reserve to raise rates, thereby making borrowing more expensive for consumers and slowing economic growth, among other things.
“This is a gold mine for us,” Scott added, clearly unable to contain his glee.DailyKos
Cheering on inflation that hits working families squarely in the pocketbook is a choice. And right now it’s one that only Republican politicians are making.
Which is repulsive enough, even without any additional context. But let’s take a look at the bigger picture.
For one, Republican politicians like Wisconsin Senator Ron Johnson are gleefully laying inflation at the feet of President Joe Biden, despite the fact that inflation is not a United States-only problem. Inflation is a global challenge confronting the world in the wake of the darkest days of a global pandemic, coupled with a war in eastern Europe.
For another, only one political party in Washington has been working to ease the costs that American consumers are paying for essential goods and services.
The American Rescue Plan, President Biden’s signature legislative accomplishment, lowered the cost of healthcare for millions by limiting the cost of ACA marketplace plans to 8.5% of income. Not a single Republican voted for it.
Through executive action, Biden has authorized the release of one million barrels of oil a day from the strategic petroleum reserve for the next six months. The largest, longest such authorization in history, as part of a coordinated global effort to reign in fuel costs.
Late last year, Democrats in the U.S. House of Representatives passed legislation that would reduce the cost of child care, drive down the price of prescription drugs, and extend the changes to the child tax credit originally passed in the American Rescue Plan. Without a single Republican U.S. Senator willing to support the plan, its prospects lie dormant in Washington.
None of that changes the fact that inflation is impacting Americans right now. But it should make every American skeptical each time a Republican politician reminds them of it. Because only one political party — the Democratic Party — has elected officials in Washington, DC working to ease its impact by lowering the everyday costs American consumers bear.
Inflation sucks. And so does wielding it as a political cudgel when the fact is Republicans like Senator Johnson could start working with Democrats tomorrow to make things easier for Wisconsinites — for all Americans.
But I wouldn’t hold your breath.
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