Biden-Fetterman Reckless Spending Responsible for Interest Rate Hikes

HUNTINGDON VALLEY, Pa. — The radical, tax-and-spend Biden-Fetterman agenda is the reason that the Federal Reserve raised interest rates by 75 basis points yesterday. The Federal Reserve’s decision to raise interest rates another 75 basis points is the latest in a series of aggressive steps to combat the inflation crisis spurred by Biden-Fetterman tax and spend policies. The Biden crisis has been marked by a consumer price index that remains at 8.3 percent – more than 4 times higher than the targeted rate of 2 percent.

“John Fetterman’s tax and spend economic policies are what got us raging inflation that has cost every Pennsylvanian over $600 last month and more than $5,700 since January 2021. While Fetterman refuses to pay his own taxes, being sued 67 times, he continues to push higher taxes and more spending that will push us further into a recession. In the U.S. Senate, I will fight to restore fiscal responsibility, get us out of this recession, protect important social safety nets like social security and Medicare, and lower costs for families,” said Dr. Mehmet Oz.

Pennsylvania’s Monthly Household Inflation Costs
Calculations Relative to January 2021

Source: https://www.jec.senate.gov/public/index.cfm/republicans/pennsylvania-inflation-report/

The Consumer Price Index shows the Mid-Atlantic region is facing a 7.5% increase over last year.

  • Fuel oil is up 69%
  • Meat, poultry, and fish are up 9%.
  • Baby food is up 13%;
  • Groceries are up 13.5% (the largest increase in 43 years); 
  • Milk is up 17%;
  • Gas is up 26%;  
  • Airline fares are up 33%;
  • Eggs are up 40%

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