Rand Paul releases report on rising inflation: 'It's only going to get worse'

[libertybele]

 

Rand Paul releases report on rising inflation: 'It's only going to get worse'

EXCLUSIVE: Sen. Rand Paul, R-Ky., released a new report Tuesday on the troubling effects of inflation on low and middle-income families as well as small businesses.

Paul, the top Republican on the Senate Committee on Small Business and Entrepreneurship, blames the 7% spike in consumer prices – a 40-year high – on excessive coronavirus relief spending by Congress, and warns the rising prices are "only going to get worse."

INFLATION SURGES 7% IN DECEMBER, HIGHEST RATE IN 40 YEARS

"In recent months, prices on nearly everything from gas, food, and clothes to electricity, car prices, and rent, have all increased, and unfortunately it's only going to get worse," Paul said in a statement released first to Fox News Digital. "Congress needs to realize that further spending at this time of rapidly rising prices is only going to continue the trend of rising prices on this nation’s already vulnerable businesses and families.".

Paul's 18-page report is called "The Hidden Tax" and it shines a spotlight on how prices on everyday essential goods have shot up in the last year, citing publicly available price index studies.

Paul also cites public opinion studies, such as Gallup, that found households making $40,000 or less are under the most hardship by the rising costs, whereas households earning at least $100,000 are less impacted. 

While larger businesses have been able to adapt to the changing conditions, it is small businesses with thin margins that are hard-hit, the report said. "Sustained inflation is more likely a fatal blow to small businesses squeaking by than larger corporations entrenched in their economies of scale," Paul wrote.........

https://www.foxbusiness.com/politics/rand-paul-report-rising-inflation

[libertybele]

Worse than under Carter.  Perhaps even a Depression era.

[catfish1957]

Worse than under Carter.  Perhaps even a Depression era.

The depression was actually a deflationary scenario.  Everything was worth (and cost) less in 1935 than it was in 1929. 

I think a closer analogy is the Weimar Republic of the early 1920's, and hyperinflation.  What Biteme is doing with more stimulus will only throw gasoline on this pending economic disaster.  Someone needs to remove the dimocrats from the button before they destroy us all.

[Hoodat]

Republicans sign off on this every time they vote to raise the debt ceiling.  Perhaps if instead they passed a law making it illegal for the Fed to finance deficit spending.

[catfish1957]

Republicans sign off on this every time they vote to raise the debt ceiling.  Perhaps if instead they passed a law making it illegal for the Fed to finance deficit spending.

Couldn't agree more.  Problem is our entire government has basically done a combinaton of (1) painted itself in a corner, and (2) kicked the can down the road for so long that any attempt to stop this runaway train will : (1) have significant impact on the slug entitlement class which triggers- :(2) will adversely impact the political fortunes of the turds who created this mess in the first place.

Cowards in DC aren't about to risk their cash cow.