United States Senator Bill Hagerty Tuesday released the following statement in response to the latest Consumer Price Index release from the Bureau of Labor Statistics, showing an 8.5 percent annualized rate of inflation for March, the highest rate in 41-years:
“As I spend this week meeting with Japan business and government leaders to deepen our two nations’ economic and security ties, I do so knowing that American families are suffering from the effects of historic inflation," said Senator Hagerty. "While President Biden will surely say this pain is the fault of Vladimir Putin and that inflation is a global problem, this is spin from a White House that refuses to take responsibility.
"The facts are real: Inflation continued to accelerate in March, as Putin’s invasion poured gasoline on the inflationary fire that the Democrats’ irresponsible economic policies—ranging from their massive wholly partisan stimulus spending to their war on American energy—ignited more than a year ago, creating this tidal wave of inflation now running at a multi-decade high.
"Until President Biden recognizes he has a policy problem, I remain deeply concerned that the problem of inflation will be here to stay.”
U.S. Rep. Chuck Fleischmann said, "“President Biden and Democrats who control the House of Representatives and Senate keep breaking economic records, and not in a good way. Because of the supply chain crisis, out of control borrowing and spending, and the war on domestic energy production, everything from gas to groceries, household items, and services are getting more and more expensive.
“This Administration and Congressional Democrats have shown no plan or desire to solve this mounting economic crisis. Inflation is a regressive and pernicious tax on all Americans. I urge the Biden Administration and my colleagues in Congress to stop their tax-and-spend agenda, end their unrelenting war on domestic energy production, and get government out of the way of our free-market system; that is how we will get our economy working for all Americans again.”