Sen. Elizabeth Warren, D-Mass., blames Russian President Vladimir Putin's, "corporate monopolies," and supply chain issues for the United States' inflation report from Wednesday, while seemingly absolving Democrats and President Joe Biden from the record-high inflation rate of 9.1% — America's highest mark since the early 1980s.
"An energy shock from Putin's war [with Ukraine], supply chains still reeling from a pandemic, and corporate monopolies raising prices are all driving inflation," said Warren on Twitter, attempting to rationalize the country's pricing woes.
"I'm deeply concerned that the Fed is ill-equipped to respond and rate hikes could cause a recession. Congress needs to step up, too," Warren continued, while also demanding Congress take action by "making billionaire corporations pay a minimum in taxes, invest in affordable child care, and empower Medicare to negotiate lower prescription drug prices."
Warren added, "We must use every tool to lower costs for working families."
Sen. Ted Cruz, R-Texas, says the Democrats have run out of excuses for 40-year inflation highs, surging gas and food prices, and worker wages falling considerably short of other cost-of-living trends.
"The Biden admin & Democrats are going to try to come up with a new ridiculous lie to spin these inflation numbers. They've already tried inflation is not happening, it's transitory, it's a 'high class' problem, it's a good thing, and it's Putin's fault," said Cruz, via Twitter.
Cruz then added, "Nobody's buying their spin."
On July 4, Newsmax chronicled a CIVIQS poll that had President Biden "underwater" in 48 states, including his home state of Delaware and left-leaning California.
Covering the last 18 months, the Biden administration has also dealt with a baby formula shortage; surging prices for meat, and other proteins; supply chain issues; record-high gas prices; and the hasty Afghanistan withdrawal, which led to the Taliban taking over the country.
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