[Congressional Record Volume 169, Number 15 (Tuesday, January 24, 2023)]
[House]
[Page H258]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




              FAMILIES FIGHTING INFLATION AND DEBT IN 2023

  (Mr. WILSON of South Carolina asked and was given permission to 
address the House for 1 minute and to revise and extend his remarks.)
  Mr. WILSON of South Carolina. Mr. Speaker, last year was difficult 
for the American family. Under disastrous policies of Biden and the 
Democrat-led Congress, inflation reached 40-year highs, causing 
everyday prices to skyrocket.
  December marked the 21st straight month that inflation was higher 
than real wages. As a result, Americans are relying on credit cards as 
payment, and nearly half are carrying debt from month to month, up 39 
percent from last year, according to Bankrate.
  Credit card balances increased 15 percent versus last year, the 
largest increase in more than 20 years, according to a recent quarterly 
report of the Federal Reserve Bank of New York.
  When Biden took office in 2021, inflation was 1.4 percent, but it has 
risen nearly 14 percent since then, destroying jobs.
  The House Republican majority is committed to fighting inflation and 
lowering the cost of living, creating jobs.

  In conclusion, God bless our troops who successfully protected 
America for 20 years as the global war on terrorism continues, moving 
from the Afghanistan safe haven to America.
  Our sympathy to the family of Tom Young, Sr., of Aiken, South 
Carolina.

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