WASHINGTON, D.C. – Today, following the latest Consumer Price Index (CPI) release from the Bureau of Labor Statistics (BLS), Senator Rick Scott released the below statement highlighting the devastating impact of inflation on Florida families and the need to end reckless spending and pay down the debt. May’s CPI data shows that there has been a notable increase in inflation every month of Biden’s presidency. Year over year, consumer prices increased 5% in May – a significant increase from the 4.2% increase reported for the 12-month period ending in April 2021 and the largest 12-month increase since 2008. Annualized, the monthly CPI growth rate reached 10% in May. CPI gasoline prices have seen a 56.2% increase over the last 12-months, up 6.6 percentage points from April’s CPI report.
Senator Rick Scott said, “Today’s CPI data again proves true what I have been warning about for months – inflation is rising and so are the prices of goods for Florida families. For five straight months, we’ve seen the data clearly show that spending beyond our means has consequences. President Biden’s inflation crisis is here and it’s devastating for our poorest families. I saw how hard it was for my parents to make ends meet when inflation hit in the 70’s. When food and gas prices went up, we had less food on the table. That’s happening again in Joe Biden’s America. Families in Florida and across our nation are suffering because of his reckless spending spree.
“It’s time to end the madness. It’s clear we cannot rely on Joe Biden and the Democrats to stand up and protect American families. That’s why, yesterday, I introduced the Federal Debt Emergency Control Act to bring down the debt and help stop the reckless spending we have seen from Democrats causing inflation and killing opportunity for families across America. Now is the time to act and I urge my colleagues in the Senate to join me in quickly passing this urgently needed legislation.”
Since being elected to the U.S. Senate, Senator Scott has repeatedly urged action to address America’s debt crisis and the harmful effects of inflation:
- June 9, 2021: Sen. Rick Scott Introduces Federal Debt Emergency Control Act to Fight Washington’s Spending & Debt Crisis
- June 4, 2021: Sen. Rick Scott: Biden’s Budget is a Disaster for Florida Families & Pro-Life Protections
- May 28, 2021: Sen. Rick Scott: Biden’s Reckless Spending Spree Would Destroy the American Dream
- May 26, 2021: VIDEO RELEASE: Sen. Rick Scott: Biden’s Inflation Crisis Demands Action
- May 21, 2021: IN CASE YOU MISSED IT… Sens. Rick Scott, Cynthia Lummis in Fox News: Our national debt is almost $30 trillion – let conservative states lead on reducing it
- May 20, 2021: IN CASE YOU MISSED IT… Sen. Rick Scott and Phil Gramm in the Wall Street Journal: Biden’s Plans Are Already Hurting the Recovery
- May 18, 2021: Sen. Rick Scott: Budget Committee Must Address Biden’s Debt and Inflation Crises
- May 14, 2021: Sen. Rick Scott: Biden’s Inflation Crisis is Here – He Must Address the Impacts of Reckless Liberal Spending
- May 13, 2021: Sen. Rick Scott: April PPI Report Further Confirms Reality of Biden’s Inflation Crisis
- May 12, 2021: Sen. Rick Scott: Biden Remains Silent as Inflation Keeps Growing, Hurting Families
- May 10, 2021: Sen. Rick Scott to Biden: Inflation is Happening – Stop Reckless Government Spending
- May 6, 2021: Sen. Rick Scott: Families on the Hook for $16,000 in Tax Hikes this Decade to Pay for Biden’s Spending
- May 5, 2021: Sen. Rick Scott in the Wall Street Journal: Inflation Is More of a Threat Than the Fed Says
- May 4, 2021: Sen. Rick Scott to Biden: Tell the Truth About Taxing American Families
- April 29, 2021: Sen. Rick Scott to Federal Reserve: With Economy Recovering, Stop Manipulating Market with Treasury & Bond Buys
- April 28, 2021: VIDEO RELEASE Sen. Rick Scott’s Request For Inflation Crisis Information Blocked by Democrats: What Are They Hiding?
- April 23, 2021: Sen. Rick Scott: Americans are Worried About Rising Inflation – Biden Must Take Action
- April 14, 2021: Sen. Rick Scott: Biden Administration Lying About Threat of Inflation
- April 13, 2021: Sen. Rick Scott to Biden and Powell: Wake Up and Address Growing Inflation Now
- April 9, 2021: Sen. Rick Scott: Biden’s Inflation Ignorance is Unacceptable, Hurts Families
- April 2, 2021: IN CASE YOU MISSED IT… Sen. Rick Scott in Washington Post: Where’s the anti-inflation plan, Mr. Powell?
- March 24, 2021: Sen. Rick Scott to Federal Reserve: What’s Your Plan to Address America’s Debt Crisis?
- March 17, 2021: Sen. Rick Scott: We’re Watching Federal Reserve & President Biden’s Response to Inflation
- March 4, 2021: Sen. Rick Scott to National Economic Council: What’s Biden’s Plan to Stop Inflation?
- February 23, 2021: Sen. Rick Scott: Fed Chairman Jay Powell Must Address Rising Inflation
- February 16, 2021: IN CASE YOU MISSED IT… Sen. Rick Scott in the Tampa Bay Times: America Can’t Keep Spending Without Consequence, We Must Address Our Debt Crisis Now
- February 11, 2021: Sen. Rick Scott to Colleagues: Inflation from Unsustainable Federal Debt Hurts American Families
- February 3, 2021: VIDEO RELEASE: Sen. Rick Scott: Congress Must Address Our National Debt and Rein in Spending
- January 26, 2021: Sen. Rick Scott: Congress Must Get Serious About America's Debt
- May 4, 2020: After coronavirus, for US to survive, we must tackle looming debt crisis: Sen. Rick Scott
- February 5, 2020: Sen. Rick Scott to Chairman Powell: Take Action to Roll Back Growing Size of Federal Reserve’s Balance Sheet
- August 1, 2019: Sen. Rick Scott: Debt will destroy our country, if we let it