See below for this morning’s superb inflation news, as well as statements by President Joe Biden (who should get a HUGE amount of credit, along with Congressional Democrats, for the rapid decline in inflation – combined with low unemployment and strong economic growth – after COVID; better than any of our OECD peer countries), Rep. Don Beyer (D-VA08), etc. The bottom line, as Rep. Beyer put it: “Democratic leadership in Congress and the Biden-Harris Administration helped restore and maintain a strong economy with record job growth and historically low unemployment while fighting to control inflation, bring down costs, and build an economy that benefits all Americans.” And they SHOULD get credit for that, including AT THE POLLS this November!
Beyer Statement On June Inflation Decline
July 11, 2024 (Washington, D.C.) – Rep. Don Beyer (D-VA), Senior House Democrat on Congress’ Joint Economic Committee, issued the following statement on today’s monthly Consumer Price Index (CPI) report showing that overall prices declined in June:
“Today’s CPI report is unequivocally good news for the American people. After being flat in May, prices declined overall in June for the first time in years, and both overall and core inflation were cooler than expected. Wages continued to rise faster than inflation. Energy prices went down, grocery prices went down again, and housing inflation slowed. This is exactly what we want to see.
“Prices are still too high for the American people, but we have a strategy to solve this problem and that strategy is working. Democratic leadership in Congress and the Biden-Harris Administration helped restore and maintain a strong economy with record job growth and historically low unemployment while fighting to control inflation, bring down costs, and build an economy that benefits all Americans.
“This approach stands in sharp contrast with proposals championed by the former President and Republicans in Congress to spend trillions on tax giveaways to the wealthy and large corporations while enacting a crazy tariff scheme that would make inflation so much worse. As leading economists and analysts have noted, that road leads to economic disaster for the country.”
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