This holiday season, working families across America are struggling through the worst bout of inflation in decades. A typical household has lost more than $7,000 in purchasing power since January 2021 due to prices rising faster than incomes.
The primary cause of this inflation has been dramatic increases in federal spending – financed through excessive borrowing and unprecedented money printing. Washington’s spending spree has added more than $50,000 in debt for every household in the country since the pandemic began in March 2020.
Republicans across the country campaigned aggressively on fighting inflation, a message that helped flip enough seats to change control of the House of Representatives. Unfortunately, both chambers of Congress are considering choices that would make things worse.
