Sen. Rick Scott on PPI Report: Joe Biden’s Failed Presidency Marks Two Years of Rising Inflation, Hurting Families and Businesses Everywhere
January 18, 2023
WASHINGTON, D.C. – Today, Senator Rick Scott released the below statement following the latest Producer Price Index (PPI) release from the Bureau of Labor Statistics (BLS), which showed inflation continued to rise in December increasing 6.2% over the year. Since Joe Biden became president, PPI has risen 15.4% over the past two years.
Senator Rick Scott said, “In the two years of Joe Biden’s presidency, families and businesses across Florida and the nation have struggled as inflation has risen. Meanwhile, Democrats looked the other way, spending trillions more in a pathetic attempt to dig themselves out of an economic hole by digging deeper. But here’s where that’s left us: businesses forced to close their doors, raise prices or fire employees, families forced to choose between gas or groceries, and an unsustainable federal debt of over $31 TRILLION just days away from reaching the nation’s debt limit with no answers, accountability or plan to reverse course from our failed president. America’s credit card is more than MAXED OUT and a day of reckoning is on the horizon unless we STOP the reckless spending, STOP caving into Democrats’ socialist policies and START living within our means – like every single family and business has to. Families have had enough of Washington’s dysfunction failing them time and time again. We need to bring fiscal sanity back to Washington and end this raging inflation crisis TODAY.”
According to today’s PPI release, price increases over the year in December included:
- Eggs: + 191.8%
- Home Heating Oil: +37.0%
- Transformers: +20.3%
- Natural Gas: +29.1%
- Auto Parts: +18.5%
- Corn: +13.5%
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. Click HERE for a comprehensive list of his statements and actions on this urgent issue.