following Senate Democrats’ passage of their $5.5 TRILLION tax-and-spending spree package without any Republican support. The Democrats’ reckless $5.5 trillion tax-and-spending spree is estimated to drive the federal debt to more than $45,000,000,000,000 by 2031 – a more than $15,000,000,000,000 increase in just 10 years.
This comes as the Bureau of Labor Statistics (BLS) this morning released the latest Consumer Price Index (CPI) data showing that inflation has again risen significantly. Year-over-year, consumer prices increased 5.4% in July – matching the troubling increase reported for the 12-month period ending in June 2021, which was the largest 12-month increase since 2008. Annualized, the monthly CPI growth rate reached 5.9% in July.
Senator Rick Scott said, “Under unified Democrat rule, liberals in Washington have welcomed a socialist agenda that is drowning America in debt, fueling a raging inflation crisis and hiking taxes on Florida families. We know that reckless government spending causes higher inflation – raising prices and making life more expensive for every family, especially those on low and fixed-incomes, like mine growing up. Today’s CPI report shows that President Biden’s inflation crisis rages on, hurting more families every day.
“Bernie Sanders’ budget is driving America toward a $45,000,000,000,000 debt nightmare and killing jobs by hiking taxes that hurt every American family. Our nation can’t afford this socialist nightmare. If the Democrats insist on engaging in this reckless tax-and-spending spree, it’s up to them to own what they’ve done, find the courage to face the American people and raise the debt ceiling the same way they’ve passed this unbelievable spending – without a single Republican vote in support.”