Duval Times

WASHINGTON, D.C. - The latest Consumer Price Index (CPI) data released by the Bureau of Labor Statistics (BLS) has highlighted the urgent need for fiscal reforms to combat the ongoing inflation crisis under the Biden administration. The November CPI report reveals a significant rise in inflation, with CPI increasing 3.1% over the year in November 2023. Since President Biden took office, inflation has surged by 17.4%.

Senator Rick Scott expressed his concern over the impact of this inflation crisis on American families, particularly during the holiday season. Drawing from personal experience, Senator Scott said, "For almost three years, Joe Biden's inflation crisis has forced families into making tough decisions, and it isn't getting any easier—especially during the holidays." He emphasized that the skyrocketing inflation under Biden's administration is particularly devastating for America's poorest families, recounting his own childhood experiences growing up in public housing and witnessing his mother struggle during the holidays.

Senator Scott highlighted the alarming consequences of this inflation crisis. "Since Biden took office, Americans have lost $11,400 worth of buying power, the average car payment has reached a record high, the national credit card debt has reached over $1 trillion, the national debt has surpassed $33 trillion, and the interest on our debt is costing taxpayers $981 billion this year." He expressed his frustration at the weak fiscal position in which President Biden has placed the country, stressing that it not only affects the nation but also every hardworking American family.

The CPI report also reveals notable price increases across various categories. Beef prices have risen by 8.7%, while gravy and baby formula have seen increases of 8.0% and 7.6%, respectively. Rent has risen by 6.5%, and peanut butter and pet food have both seen price increases of 6.5% and 5.6%, respectively. Additionally, breakfast cereal prices have risen by 4.0%.

Senator Scott has been a vocal advocate for addressing America's debt crisis and the harmful effects of inflation. As a U.S. Senator, he has consistently called for action to tackle these pressing issues. To learn more about his statements and actions on this urgent matter, please refer to the comprehensive list available on his official website.

The latest CPI report underscores the urgent need for substantive fiscal reforms to combat the ongoing inflation crisis. As American families face the challenges of rising prices, it is crucial for policymakers to address this issue and ensure a stable economic future for all.

To learn more, click on this link: https://www.rickscott.senate.gov/2023/12/sen-rick-scott-on-cpi-report-joe-biden-forcing-families-to-cut-back-on-celebrating-this-holiday-season