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- 2021 Statewide News- Week of May 17th
- The Biden Price Hike
- The Biden Price Hike
- Under Joe Biden, hardworking families and businesses are already feeling the squeeze of rising prices.
- Biden’s plan to bankrupt America – including his proposed $6 trillion in spending – would only make things worse.
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This would be the largest government expansion in decades and economists have warned trillions in new federal spending is a recipe for inflation.
- Consumer prices have jumped 2.6% over the 12 month period ending in March, a “much larger increase” than February.
- Consumer goods have spiked – including increased prices for toilet paper, diapers, soft drinks, plane tickets, and appliances.
- Grocery prices are rising. Consumer Price Index rose 3.5% over the past year.
- Gas prices have surged and experts predict they are going to keep going up.
- Home prices have increased by an annual 17.2% in March – a drastic climb from the 3-5% annual increase which is considered healthy.
- Restaurants are having to raise prices due to higher ingredient prices.
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Manufacturers and construction businesses are facing skyrocketing prices for raw materials.
- Steel prices have tripled.
- Lumber futures has increased by more than 500%.
- Copper prices are an all-time high.
- Iron ore futures surged 10%.
- Inflation rose a whopping 4.2% in April – the sharpest increase in over a decade.
- Economists across the political spectrum have sounded the alarm on inflation.
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Biden is undoubtedly squandering the recovery he inherited and families and businesses are facing rising prices.
- Now is not the time for Biden’s $3 trillion tax hike and $6 trillion government spending spree.
- RNC Research: The Biden Price Hike
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