WASHINGTON, D.C. – Today, Senator Rick Scott released a weekly update on his actions to address America’s debt crisis and rising inflation. This week, reports from the Bureau of Labor Statistics showed that the federal government’s key inflation indicators, the Consumer Price Index (CPI) and Producer Price Index (PPI), rose more than expected causing even more strain on the budgets of American families and small businesses. Since President Joe Biden took office, CPI inflation is up 18.6%, while PPI inflation has risen 18.4%. Earlier this week following the CPI announcement, Senator Scott released the following statement.

Additionally, earlier this week, Senator Scott questioned Office of Management and Budget (OMB) Director Shalanda Young during a hearing of the Senate Committee on the Budget on President Biden’s reckless $7.3 trillion FY 2025 budget proposal. President Biden’s proposed budget would add $6.4 trillion to the national debt over the next four years. Since 2019, the population has increased 2%, yet Biden's latest budget proposal would increase federal spending by 66%—completely outpacing sustainable levels of spending. See more here.

Senator Rick Scott said, “I heard from a woman in Orlando recently about how hard inflation is making her life. She said, ‘Not only can most of us not afford our groceries and rent we are literally choosing between paying our bills and eating.’ It’s heartbreaking. I grew up in public housing and watched my mom make those kinds of tough choices. I don’t want anyone else to have to do that today. This is why we shouldn’t pass a reckless spending bill with 6,600 earmarks. This is why we need to balance the budget and pay down the debt. Unfortunately, President Biden cares more about taking care of illegal aliens and funding his Green New Deal agenda than stopping the inflation he caused. If anyone needed more proof that Biden’s reckless spending is driving America off a fiscal cliff, today’s inflation report leaves no doubt. Inflation is up 18.6% since Biden took office, and his proposed $7.3 TRILLION budget will only make things worse. Think about this: Since 2019, the population has increased 2% and Biden's latest budget proposal is up 66%. That is insane. These increased levels of spending are unsustainable, and it must be dead on arrival in Congress.”

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 and HERE for Senator Scott’s Quarterly Economic Snapshot.

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