[Congressional Record Volume 168, Number 117 (Friday, July 15, 2022)]
[House]
[Page H6629]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  0915
            MORE SPENDING IS NOT THE SOLUTION FOR INFLATION

  (Mr. ROSE asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. ROSE. Madam Speaker, consumer prices climbed another 1.3 percent 
last month, bringing the Nation's total annual rate of inflation to 9.1 
percent. The cost of making goods shot up, too. The producer price 
index hit a whopping 11.3 percent. It is costing Tennesseans and all 
American families an extra $5,000 a year.
  There seems to be a growing consensus that we are heading toward a 
recession. I continue to believe that it didn't have to be this way. 
The Fed wouldn't have to raise interest rates had President Biden and 
Congressional Democrats resisted the urge to borrow and spend trillions 
and trillions of dollars we did not have and couldn't afford to spend.
  What is their solution for getting us out of this mess? Even more 
spending.
  But only increasing domestic production of our natural energy 
resources can get us back on track. President Biden appears to prefer 
the destruction of our country's fossil fuel energy industry rather 
than using it to bring the price of gasoline and diesel back down.

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