On Friday, the U.S. Labor Department announced inflation reached a historic four-decade high of 8.6% in May. Bloomberg reported: “The figures dash any hope that inflation had already peaked and was starting to ebb.” Economists from across the ideological spectrum were quick to blame excessive government spending for the sustained acceleration in prices:
Former Obama Administration official Jason Furman: “…the American Rescue Plan was too large”
American Enterprise Institute economist Michael Strain: “The American Rescue Plan was responsible for about three percentage points of the inflation.”
But Washington liberals still haven’t abandoned pushing for even more large spending bills that would make inflation worse. U.S. Senators Raphael Warnock (GA), Catherine Cortez Masto (NV), Mark Kelly (AZ), and Maggie Hassan (NH), as well as U.S. Representatives Tim Ryan (OH) and Val Demings (FL), are continuing to push for passage of the gargantuan “Build Back Better” spending bill. Economists warn that such a large infusion of government spending into an already-hot economy would make inflation even worse:
One Nation is leading the fight to stop excessive government spending that is making inflation worse. Last month, One Nation announced a $43 milliion summer advertising blitz focused on stopping the erosion of Americans’ quality of life, not least rising costs of consumer goods and gasoline. One Nation is currently airing advertising efforts in Georgia, Arizona, and Wisconsin calling on U.S. Senators to stop further reckless government spending that is fueling inflation.
So far, the only “solutions” Washington liberals have announced include “gimmicky” tax suspension bills that would not actually provide relief to consumers, on top of even more government spending economists warn would make inflation worse. One Nation plans to expand our advertising efforts beyond the current states of Arizona, Georgia, and Wisconsin to urge our elected representatives to focus on policies that will bring inflation down and provide relief for families.