Sen. Mike Braun, R-Ind., told Newsmax Wednesday that President Joe Biden and his administration are "tone-deaf" when it comes to the economic pain faced by Americans in the current inflationary environment.
"You think [Biden and his administration] would have at least been aware that the [inflation] report was coming out, not roll the dice [having the Inflation Reduction Act celebration] because in the corner of many screens, the big [stock market] arrow was going down as they were jumping up and down. I mean, that is kind of the tone deafness," Bruan said during "Eric Bolling The Balance" Wednesday.
"Imagine that visual to hardworking Americans. All of them are struggling to put fuel in their gas tanks. Now necessities of shelter and food are even pushing out the money you spend on gasoline. That's why the price of gas is coming down. We're in the beginning of a recession, No. 1. First necessity that people cut back on. Nothing to celebrate about. The last time this occurred, it took five years to get the nastiness of inflation back under control from 1981 to 1986. That is what we've got to communicate as a party.”
During a celebration on the White House South Lawn Tuesday, Biden cheered the $700 billion plan passed as a budget reconciliation bill by Congress along party lines.
"Exactly four weeks ago today, I signed the Inflation Reduction Act into law, the single most important legislation passed in [this] Congress to combat inflation and one of the most significant laws in our nation's history, in my view," Biden said. "I said it then and I'll keep saying it: With this law, the American people won and special interest lost. Say it again: The American people won and special interest lost."
As Biden and top Democrats, including Vice President Kamala Harris; House Speaker Nancy Pelosi, D-Calif.; and Senate Majority Leader Chuck Shumer, D-N.Y., joined Biden at the event, the stock market went into a 1,200-point freefall after Tuesday's consumer price index report showed inflation ticking up to 8.3% in August, an increase of 0.1% compared to July, Time reported.
According to the Bureau of Labor Statistics, the increase was fueled by rising prices for shelter, food and medical care, offsetting a 10.6% decline in gasoline prices.
All other items, excluding food and energy, rose 0.6% in August following an increase of 0.3% to that index in July, contributing to a total 6.2% increase over last year, according to the report.
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