On Thursday, the U.S. Bureau of Labor Statistics released the December data concerning the Consumer Price Index (CPI). The results show that compared to last month, inflation has declined by 0.1%, but has increased by 6.5% compared to December of 2021. Due to this fact, Speaker of the House nominee Rep. Byron Donalds (R-FL) released a statement concerning the numbers.
“Trillions of dollars in reckless overspending by House Democrats and the Biden administration has led us to historic levels of inflation. Today’s newly released December Consumer Price Index is sadly no different. This December was the second-hottest December CPI report in forty years and the twenty-first straight month that real wages have decreased,” stated Donalds.
Following the release of the report, President Joe Biden (D) gave an immediate rebuttal to those who disparaged the new data drop.
When I ran for president, the economy was flat on its back. But we got to work, putting in place a new strategy that would grow the economy from the bottom up and middle out.
Two years in, more Americans are working than ever before. Our plan is delivering.
— President Biden (@POTUS) January 12, 2023
“When I ran for president, the economy was flat on its back. But we got to work, putting in place a new strategy that would grow the economy from the bottom up and middle out. Two years in, more Americans are working than ever before. Our plan is delivering,” tweeted President Biden.
Donalds states that with Republicans in control of the House of Representatives during the 118th Congress, tackling inflation will be “a top priority.”
“As our community continues to rebuild from the devastating effects of Hurricane Ian, we need relief from the inflation and economic hardship caused by one-party Democratic rule in Washington over the past two years. A top priority of Republicans in the 118th Congress is reducing wasteful spending and attaining a pathway to a balanced budget. I am committed to reducing the sky-high cost-of-living for the hardworking families of Southwest Florida and across the nation,” stated Donalds.
One of the first actions made by the Republican conference in the House was to eliminate the hiring of the proposed 87,000 new Internal Revenue Service (IRS) agents.