Duval Times

On July 12, 2024, Senator Rick Scott issued a statement following the latest Producer Price Index (PPI) release from the Bureau of Labor Statistics (BLS). The report underscores the need for substantial fiscal reforms to address the ongoing inflation crisis, which Senator Scott attributes to the Biden administration’s tax-and-spend policies. June's PPI data indicates a significant rise in inflation during President Biden’s tenure, with a year-over-year increase of 2.6% and an overall increase of 19.8% since he took office.

Senator Scott remarked, “Joe Biden is clearly clueless to the suffering that Bidenomics and the high prices and record inflation it has caused are forcing on American families and small businesses. When war is raging around the world, U.S. debt is about to explode over $35 trillion, and PPI inflation has grown by 19.8% under Biden’s administration, having an incompetent president is not just disturbing; it’s dangerous."

He continued, "Americans know that Biden can’t fix the damage he’s done because he has totally lost his ability to lead our country and is wildly out of touch with reality. Whether it's seniors coming out of retirement to pay bills, families skipping meals to save money, or people taking on multiple jobs just to survive, Biden has failed hardworking Americans in Florida and across the nation with a terrible Bidenomics agenda. It’s time for new leadership in the White House that will demand fiscal sanity with a balanced budget and finally end the reckless spending that is threatening to destroy our country.”

The latest PPI release highlighted several notable price increases over the past year:

- Eggs: +98.6%

- Pork: +19.5%

- Hardware: +11.0%

- Dairy Products: +6.2%

- Chicken: +6.1%

- Coffee: +6.0%

- Home Heating Oil: +5.8%

Since his election to the U.S. Senate, Senator Scott has consistently called for measures to address America’s debt crisis and combat inflation's adverse effects.

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