[Congressional Record Volume 169, Number 37 (Monday, February 27, 2023)]
[Senate]
[Page S493]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                               Inflation

  Madam President, now on one final matter, January was the 21st month 
in a row with year-on-year inflation of at least 5 percent. The U.S. 
economy has seen prices rising at an annual rate of 5 percent or more 
every single month following President Biden's first 100 days. 
Democrats' reckless spending has made soaring costs a fixture of 
everyday life for families all across our country. Real-wage declines 
have become a tragic reality for workers in every single State.
  Last week, new data proved yet again that persistent inflation has 
become actually embedded in our economy. One key measure of consumer 
behavior, the personal consumption expenditure index, grew at triple 
the monthly rate from December and at its fastest pace since June of 
last year. Inflation in the services sector in particular is 5.7 
percent higher than it was a year ago.
  The Democrats' inflation is not just driving up the prices for 
groceries and essentials that families pay themselves at the checkout 
counter; it is also baked into the costs families pay indirectly 
through service providers, from plumbers to contractors to medical 
providers and beyond. In every corner of the economy, workers and 
businesses are still having to hunker down against the ongoing 
consequences of Democrats' reckless mistakes.
  What an odd time, then, for the Biden administration to declare 
victory over a problem it helped actually create. The White House Press 
Secretary declared earlier this month that ``the President's economic 
plan is indeed working.'' Well, today, 57 percent of Americans say they 
have less money in their pocket than they did a year ago. Nearly two-
thirds say they are living paycheck to paycheck. The White House calls 
this mission accomplished. The American people call it a nightmare for 
2 years and counting.
  I suggest the absence of a quorum.
  The ACTING PRESIDENT pro tempore. The clerk will call the roll.
  The senior assistant legislative clerk proceeded to call the roll.
  Mr. SCHUMER. Madam President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The ACTING PRESIDENT pro tempore. Without objection, it is so 
ordered.