[Congressional Record Volume 169, Number 119 (Wednesday, July 12, 2023)]
[Senate]
[Pages S2337-S2341]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
The Economy
Mrs. CAPITO. Madam President, I rise today to talk about something we
have been hearing a lot about recently, and that is Bidenomics. The
President and his Cabinet have been traveling the country trying to
convince the American people into believing that the President's
economic vision for the
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country has our Nation on the right path.
Well, I can assure you, after being home for the last 2 weeks, that
these false messages are not really resonating with the American
public. Polling data between June 6 and July 7 of this year shows that,
on average, two-thirds of Americans believe that our Nation is going on
the wrong track. If you spend a few minutes at the supermarket, a car
dealership, or a retail store, or if you are looking to purchase or
rent a home, or if you face energy and utility bills or the prices at
the pump that middle-class American families are having to pay--
everybody is paying--this should be no surprise.
So what exactly is Bidenomics? Let me break down a couple of
definitions of this term as they relate to American folks outside of
the beltway, and certainly those would include people whom I represent
in West Virginia, which I consider the backbone of our country.
Bidenomics means you are getting less while spending more. According
to data from the Bureau of Labor Statistics, since President Biden took
office, grocery prices have increased 20 percent, energy prices have
increased 38 percent, prices for fuel oil have increased 45 percent,
gasoline prices have increased 52 percent, natural gas prices have
increased 20 percent, electricity prices have increased 26 percent,
prices for used cars and trucks have increased 35 percent, prices for
new vehicles have increased 20 percent, apparel prices have increased
10 percent, and airline fares have increased 39 percent. But the list
goes on and on.
Bidenomics means that inflation is just a part of everyday life.
Today's inflation report marks the 30th straight month that year-over-
year inflation is over the target rate of 2 percent. The President is
touting this decreasing inflation as something to celebrate, but there
is really nothing to celebrate here. Americans have felt the blunt and
unapologetic force of inflation for over 2 years.
Bidenomics is certainly not a science. If it were, it would be a
shifting one. Remember when inflation was only supposed to be
transitory? The individual who voiced that opinion, who himself is not
an economist, got a promotion from the President and is now Chair of
the Council of Economic Advisers.
Bidenomics means, if you are looking to rent or buy a home, you might
just be out of luck. Rampant spending from the American Rescue Plan and
the Inflation Reduction Act were main contributors of high inflation
and, in turn, the source of soaring interest rates.
So, on top of that, rental prices for a primary residence have
increased 15 percent, furniture prices have increased 19 percent, the
average rate of a 30-year fixed mortgage is now 7.22 percent, and, just
this May, home prices hit record highs. All of this combined leaves the
prospect of buying a home seemingly unattainable to many American
families and compromises the American dream.
I would add here that young families can't get in the game of buying
a house, fixing it up, living there for a while, and moving on to a
little bit nicer, better, bigger home as their family grows.
Bidenomics means that if you have a small business, it will be harder
to maintain and grow, and if you want to start a small business, it is
nearly out of the question. Increased taxes felt directly by mom-and-
pop shops combined with skyrocketing costs have made it very difficult
to support a business along our Main Streets. Increased prices on
consumer goods and basic needs means that wage growth cannot keep up
with employers' rising costs.
Bidenomics means the destruction of the financial health of a lot of
our American families. The Feds's ``Economic Well-Being of U.S.
Households'' report was just released Monday. And it stated that
``[o]verall financial well-being declined markedly over the prior
year'' and that one-third of Americans say they are worse off
financially than they were the year before.
These are devastating statistics, but, unfortunately, they show the
dire straits of an economy that has a 71-percent probability of
recession, according to the New York Federal Reserve's recession
probability model.
One aspect of Bidenomics that really baffles me is the President's
willingness to take credit for the current state of our economy and his
efforts to make this the centerpiece of his White House.
There is a long list of achievements that our President has failed to
adequately address and accept accountability for. Certainly, the crisis
at the southern border is one, the weakened status of our military
another, and the out-of-control spending that has defined his time in
power. Yet, surprisingly, President Biden is more than happy to accept
responsibility for the state of our Nation's economy. And in this one
instance, he does have the right of ownership because they are his
policies that have been put into place.
So for my State of West Virginia, Bidenomics is costing West Virginia
families an additional $713. That is not a year. That is a month. That
is a month.
President Biden and his administration continue to lead our country
down the wrong path, but if we look at Republican-led States where
Republican Governors are in charge and have been able to prove their
resilience among these enormous headwinds: increased earnings in States
like North Dakota and my colleague's home State of Nebraska, booming
manufacturing sectors in States like Florida and Texas, or States with
record surpluses like my own State of West Virginia where Republican
leadership is leading the way.
So moving forward, our Republican colleagues and I will continue to
fight for proven solutions that rein in unnecessary spending, that
bring down inflation, that increase market competition, that lower tax
burdens on our small businesses, and spur the economic development that
every State in this Nation needs.
With that, I yield the floor.
The PRESIDING OFFICER. The Senator from Nebraska.
Mrs. FISCHER. Madam President, when it comes to the economy, we hear
a lot about numbers, the inflation rate, how much more groceries cost,
or how many businesses are struggling to find employees. Those numbers
are important.
They tell us the big picture story of where our economy is and where
it is going. And right now, that is not a pretty picture. But as
elected representatives, we work for our people. It is critical that we
listen to the voices of the people who live in our States and who are
being deeply affected by the numbers we read in Bloomberg or the Wall
Street Journal.
In a speech he made last week, President Biden promised that his
economic policy is helping across the board ``in rural America, the
heartland, all across America.''
He claimed that Bidenomics is the silver bullet for financial
struggles among middle-class Americans around the country.
I don't know who the President is talking to, but my experience
hearing from Americans in the heartland is a lot different than what he
said in that speech. Many Nebraskans are struggling under an
unforgiving load of inflation, kick-started by this administration's
almost $2 trillion stimulus package in 2021.
So today let's zoom in on Nebraska. When I am back in my home State,
I am constantly hearing stories of hardship from my fellow Nebraskans,
whether they are farmers, teachers, or small business owners. It is
truly painful to hear about some of the experiences people are having
due to inflation.
So let me tell you about Bidenomics in Nebraska. When I stopped by a
coffee shop in 2022, the owner told me his electric bill had
skyrocketed from $40 a month to over $300 a month, and that coffee shop
owner is now gone. He couldn't afford Bidenomics, and he closed his
shop. That is Bidenomics in Nebraska.
A year later, not much has changed. As one of our Nebraska farmers
told me a few weeks ago, ``prices take the elevator up, but the stairs
down.''
Inflation causes costs to rise quickly, and they stay up there for a
long time. One big economically irresponsible move from the
administration--well, that sets the stage for years of struggle. That
is Bidenomics in Nebraska.
Several rural businesses in the States shared their struggles with
the local newspaper earlier this year. Many of these business owners
feel ``at a loss'' for what to do as their livelihoods crumble under
the pressure.
[[Page S2339]]
A honey farmer shared that consistently rising prices squeeze his
family into a difficult position when doing things as simple as putting
their honey in jars. Sometimes they could only afford to get the
container; sometimes they could only afford to get the lids--but not
both.
He said:
We're kind of forgotten about way out here.
That is Bidenomics in Nebraska.
That doesn't line up with the President's boasts of an economy that
works for middle-class Americans in the heartland. Instead, while the
Biden administration chatters on about its support for the middle
class, thousands of people in that category are pulling out all the
stops to pay their necessary expenses.
The Salvation Army of Lincoln, NE, reported a couple of months ago
that it has seen a 50-percent increase in service requests in just a
year. People are going to charities to get help paying rent and
utilities as the economy suffers.
A Salvation Army officer said:
For people who are on medical equipment, having their
electricity on is a very important aspect.
That is Bidenomics in Nebraska.
The President has a middle-class problem. Average Americans are
hollowing out their savings, and they are taking on record debt just to
keep up with the stunning levels of inflation--or as the White House
likes to call it, Bidenomics.
The President said last week:
Bidenomics is just another way of saying restoring the
American Dream.
Wrong.
Since when does the American dream include taking a second job just
to be able to afford rent, or having to choose between containers and
lids for honey jars, or racking your brain for ways to catch up on an
electricity bill that will not stop rising?
The President should step off the podium; he should stop delivering
empty promises; and he should actually get down to business fixing the
bloated economy that he has created.
Nebraskans are not listening to the administration's inflated claims
about helping the middle class, but they are listening to the mortgage
increases and to their dwindling savings accounts. Americans know what
Bidenomics looks like, and it looks like failed leadership.
I yield the floor.
The PRESIDING OFFICER. The Senator from Iowa.
Mr. GRASSLEY. We just heard my friend from Nebraska say that Biden
wants Bidenomics to be all about restoring the American dream. Well,
for most Americans, it is turning out to be a nightmare. Inflation
brought on by the Biden administration's misguided policies has
Americans trying to figure out how to afford everyday necessities. One
thing that they are not buying is the Biden administration's latest
catchphrase: Bidenomics.
Over the Fourth of July break, I held meetings in 24 of Iowa's 99
counties. There was a very common theme there. That common theme was
that families and businesses are struggling with the economic impact of
inflation.
It is not just Iowans who are feeling the pain from the economy under
the Biden administration. According to a recent Associated Press
survey, only 34 percent of Americans approve of President Biden's
handling of our economy. President Biden's message to these Americans
is: Don't believe your bank accounts.
Well, that message doesn't resonate. Iowa families are hit with
ballooning bills and higher prices at every corner. For 2 years, Iowans
have been stretched thin because of decades-high inflation stoked by
Democrats' reckless $2 trillion spending spree, a spending spree that
would not have happened if they had listened to their own Democratic
economists, particularly the outstanding Harvard economist and former
Secretary of Treasury in the Clinton administration and economic
adviser to other Democratic Presidents. Their own Larry Summers told
them, before this President took over, that the economy was already
turning around; don't spend any more money or you will have inflation.
So what do we see? On average, American consumers are facing prices
that are 16 percent higher today than when Biden took office. While
prices have climbed, wages have failed to keep up. American workers
have seen their paychecks shrink by more than 3 percent in real terms.
Now, we heard the word ``transitory''; that inflation was going to be
transitory so you didn't need to worry about it. And this was what the
Biden administration claimed when they took office, and of course
inflation has proved persistent.
Just remember, 1.4 percent inflation the day this President took
office. It rose to 9.1 percent a year ago, and it is still at 4.5
percent.
In its effort to tame inflation, the Fed has hiked interest rates to
the highest level in 16 years, putting mortgages and businesses and
their loans out of reach for more and more Americans. Half of the small
businesses report delaying plans to grow their business due to rising
interest costs.
A rebranding of his far-left agenda as Bidenomics is cold comfort for
Iowans and Americans everywhere who are coping with rising prices,
falling real wages, and ballooning interest rates.
As we saw with last year's partisan tax-and-spending package that the
Democrats named the Inflation Reduction Act, as you see, labels are
often deceiving. Contrary to the bill's name, this partisan tax-and-
spending package had nothing to do with reducing inflation or providing
relief to Americans struggling with inflation. The nonpartisan
Congressional Budget Office--and I emphasize the word ``nonpartisan''--
confirmed the Inflation Reduction Act will worsen inflation. And, of
course, recent estimates show it will add hundreds of billions more to
the Nation's credit card.
Rather than providing relief for Americans struggling to make ends
meet, this legislation raised Americans' taxes while showering
Democrat-favored industries with corporate handouts with the government
taking an increasing role in choosing winners and losers in our
economy. Unless you are a corporation or a wealthy individual looking
to buy an $80,000 electric SUV, the Democrat ``Inflation Enhancement
Act'' has little to offer. And I think changing the name from the
Inflation Reduction Act to the ``Inflation Enhancement Act'' is exactly
the intellectually honest thing to do.
Bidenomics isn't about growing the economy from the middle out or the
bottom up, as the President claims in almost every speech. It is the
same old top down, Big Government agenda Democrats have always pursued.
It means then, as you know, higher taxes, more reckless spending, and a
growing national debt as far as the eye can see into the future.
It is time for a change in policy, not merely a change in messaging.
President Biden needs to redirect his message to the facts, the real
facts of life, because Bidenomics is not selling.
I yield the floor.
The PRESIDING OFFICER (Ms. Rosen). The Senator from Kansas.
Mr. MARSHALL. Bidenomics. Bidenomics. I think everyone knows that you
don't give yourself a nickname. You don't get to do that. Your friends
get to do that for you. Who could imagine back in grade school giving
yourself a nickname? By the same token, you don't get to name an
economy after yourself either. You have to earn it.
Just like JLo. Before there was JLo, there was Jennifer Lopez. For
Jennifer Lopez to become JLo, she had to go out and prove herself. She
had to become a great singer.
Before Taylor Swift was known as the Country Pop Princess, Taylor had
to compose music, play instruments, and sing to the hearts and souls of
millions of people across the world.
Margaret Thatcher, before she was the Iron Lady, she had to go out
and earn that nickname because of her iron fist, the way she ruled her
country.
Ronald Reagan, the Great Communicator. Could you imagine Ronald
Reagan stepping onto his first stage telling you: Hey, I am the Great
Communicator. It took him years to earn that nickname.
One of my favorites: Mr. October, Reggie Jackson. Reggie didn't get
to name himself Mr. October. He had to go out and be a star player for
the New York Yankees in October, not in May.
Derek Jeter--another great nickname, the Captain. Did Derek Jeter
give himself that name? No, his teammates did.
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Mr. President, you don't get to give yourself a nickname, and you
don't get to name an economy after yourself. You have to earn it. The
nickname this White House has earned for this economy is Bidenflation.
He has earned it. It is deserved. When my grandkids and my great
grandkids open up their history book and they get to the 46th President
of the United States, the title will be ``Bidenflation'' and the
subtitle, ``The Worst Economy in 40 Years.'' Certainly, it is the worst
economy in my professional life time.
So when I say it is the worst economy, I want to start by saying I
have not had one person in recent memory in the past 2 years who has
come up and say: Hey, this economy is great. I just love that I am
paying so much more to make a living. Whether it is food or groceries
or housing, no one has come up to me and say: Hey, I love this economy.
It is actually just the opposite. I want to take a closer look. You
may come up with some different conclusions, but you can't argue with
these facts I am about to give you. The average Kansas family is paying
$800 more per month just for basic needs--$800 more a month. When we
gave them the tax cuts in the previous administration, the average
Kansas family was able to put more than $2,000 back into their pocket.
Now this administration is taking an extra $800 to pay for their basic
necessities. I don't have to remind anybody that gas prices doubled
under this President. Groceries are up 20 percent.
Utility bills. I can't tell you how many people called me to tell me:
My utility bills have actually doubled compared to previous winters.
Housing, let's just take a minute and talk about housing. The average
monthly payment for a person searching for a new home has doubled under
this President. Let me say that again. The average monthly payment for
a person searching for a new home has doubled under this President. The
White House economy has made housing totally uncomfortable, especially
for first-time home buyers.
Let's think about what the American dream is. I think every American
dreams of owning a home--in Kansas, a truck and a fishing boat. But
under this President, none of those are happening.
I recently had the Builders Association from Kansas in my office--the
largest number from that group I ever had--all with long, long faces. I
knew their concerns before they even gave them. I hear it every day,
every week when I am back home. I hear it from friends. I hear it from
family members, business owners, union workers, senior citizens. I
really hear it from my senior citizens that the cost of living is just
unbearable. Young families with kids starting off--maybe that first job
out of high school or out of college--those are the ones that are being
stung by Bidenflation. There is no one immune from it.
Before they could go through their list of concerns, I asked them a
serious question: Is there any policy remaining that this White House
could implement that would hurt their business more? Was there one
policy the White House hasn't turned over yet that could hurt their
business more? And they sat there silent--crickets. They couldn't think
of one more thing this White House could do to hurt their business.
They don't have workers because the White House pays more to stay home
than go to work. They need lumber, they need nails, they need bolts,
they need plumbing supplies, heat and air. If they could get them,
those are all through the roof.
Interest rates. Nothing kills housing like higher interest rates. Of
course, we know the higher interest rates are a direct reflection of
Bidenflation. Just to state it very briefly, Bidenflation has made
housing unaffordable. Think about this. This government spends
millions--perhaps billions--of dollars on affordable housing, but
inflation has destroyed any gain that we made recently.
Mr. President, you are not Ronald Reagan. You should not put your
name on something that is a miserable failure. Reaganomics gave us a
great opportunity--perhaps the greatest economy of my lifetime. But
your economy--why would you put your name on the worst economy in
nearly half a century?
No matter what you say, no matter how you spin it, you are not going
to convince the folks back home that this economy is good. They are
smarter than that. Americans know otherwise.
Bidenflation--that is the title of the chapter in the history book.
I yield the floor.
The PRESIDING OFFICER. The Senator from Wyoming.
Mr. BARRASSO. I come to the floor to join my colleague from Kansas,
Senator Marshall, in talking about the economy. President Biden has
spent the last 2 weeks trying to define and then redefine what has been
come to be known as Bidenomics. The President now wants to talk about
his economic record. Well, I would say, let us have that conversation.
Here is what Bidenomics means to working families in my home State of
Wyoming. It means record inflation. It means hollowed out savings. And
it means crushing interest rates.
Bidenomics is a radical recipe causing more and more Americans to
fall further and further behind. It means families are faced with tough
decisions every single day--decisions about how they are going to make
ends meet; decisions about what they can afford at the grocery store,
how much gas they could put in the vehicle; decisions as they are
trying to pay their bills sitting at the kitchen table. Bidenomics is
spelling a summer of suffering for every single American.
Before the President took office, inflation was practically
nonexistent, 1.4 percent. But under the Biden-Harris administration,
prices have risen 16.6 percent. American households are spending $900
more per month just to keep up. The average household has spent over
$2,300 more on energy alone since Joe Biden came to the White House--
that is to fill a tank of gas, to keep the lights on, to heat the house
in the winter and cool it in the summer.
Wyoming families are worried about our Nation and our Nation's
future, and they believe this country is on the wrong track. It is what
I heard all over the Fourth of July recess from families from Cody to
Gillette, Casper to Pinedale. That is what they shared with me. They
are so much in agreement with families all across this country because
the high cost of everything is the top issue that people are talking
about and thinking about nationally. That is the impact of Bidenomics.
That is what Joe Biden has done to this country. The pain and suffering
that the American families are feeling was nothing to celebrate over
the Fourth of July, but that is what the White House is trying to do.
You wonder how we got here. Let me tell you. This agenda by the
Democrats and Joe Biden and his colleagues in the House and in the
Senate, the Democrats have an agenda of runaway spending, of government
overreach, and of reckless tax hikes. We warned our Democratic
colleagues that the Biden-Harris spending would send prices soaring.
That is exactly what happened.
The spending also drove interest rates higher. Sky-high interest
rates are sapping savings. They are putting an additional burden on
working families. People are actually dipping into their savings
account or taking on additional credit card debt just to pay current-
day bills.
Credit card debt recently hit a record of nearly $1 trillion. That is
roughly $10,000 per household in this country. These are drastic
measures that people are being forced to take because inflation has
outpaced wages for 26 months in a row.
Adding to the pain of record-high prices and more debt is the
administration's excessive and continued government overreach. The
Biden-Harris administration's regulatory agenda is the most expensive
of any administration in modern history. The administration is
surrendering America's energy and economic dominance and they are doing
it to adversaries like China. And they are doing it right now as John
Kerry prepares to go to China and continue this American surrender. The
President wants all Americans driving electric cars no matter what it
costs. Here is the catch. The electric cars are going to be slapped
with ``Made in China'' stickers.
What happened last week? China choked off supply of critical minerals
that are used for solar panels that Joe Biden wants us to make here.
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China controls the supply chain for the minerals needed to build the
electric cars and the batteries. But we are not allowed to mine for it
here--no. His Department of Interior shut down mining in Minnesota for
critical minerals. He is making China richer and America poorer.
Joe Biden is turning to China, not American workers, for the critical
minerals needed for these cars. Bidenomics is selling out to communist
China.
America isn't blind to the blunder of Bidenomics. Here is a quote
from a recent CNN story. It says:
Most Americans are convinced the economy is in bad shape,
and they blame the president.
A new poll from the Associated Press and the National Opinion
Research Center found that 64 percent of Americans--almost two-thirds
of Americans--disapprove of the way Joe Biden is handling the economy.
A Harvard-Harris poll said that 74 percent of Americans say their
financial situation is not improving under this administration. Yet you
see Joe Biden touring the country, and Democrats giving victory
speeches. Bidenomics is ravaging our wallets, wrecking our savings, and
ruining our economy, and the Democrats are saying: Great.
Senate Republicans have solutions to get America back on track, and
it starts with spending less and reducing redtape and unleashing
American energy.
As the top Republican on the Senate Energy and Natural Resources
Committee, I will tell you that unleashing American energy is my top
priority. To accomplish that, we need to pass true permitting reform.
Our plan is going to make life more affordable by making it easier to
produce every type of American energy.
We will need traditional, reliable forms of energy like oil, coal,
and natural gas for years and years to come in spite of what the
President may foolishly believe. We also need to produce more energy
from resources like nuclear, wind, and solar. We need it all.
Unleashing American energy with permitting reform is the key that
unlocks American dominance again. This is what we need to do to reverse
the damage, the destruction, and the devastation of Joe Biden and
Bidenomics.
Bidenomics is a grim reality for too many people in Wyoming and
across the country. Joe Biden, Kamala Harris, and Washington Democrats
cannot keep ignoring the pain they are causing. Nobody can afford
another bad day of bad Bidenomics.
I yield the floor.
The PRESIDING OFFICER. The Senator from Alabama.
Mr. TUBERVILLE. Madam President, I join my colleagues on the floor to
talk about Joe Biden's economy.
Over the past few weeks, the President has traveled across our great
country. He has been giving speeches on what he calls Bidenomics. He is
bragging about how good our economy is.
I have got news for the President: The American people aren't buying
what you are selling.
Two-thirds of the American people disapprove of him on the economy--
two-thirds. Three out of four Americans say our country is on the wrong
track. Most economists think we are going to have a recession within
the next year. We all hope that doesn't happen.
Nevertheless, I agree with the American people. Bidenomics has been a
disaster, a complete disaster, for the people of this country.
When Joe Biden took office, this economy was ready to take off. We
were opening back up after the pandemic, but obviously Joe Biden took
credit for that too.
The Congressional Budget Office said the economy didn't need any
stimulus--no more money. We were expected to fully recover within just
a few months. Guess what. Our President didn't listen. He signed the
biggest stimulus bill in history. Joe Biden spent $2 trillion that we
didn't need. It wasn't paid for. We didn't have the money, but we
approved it anyway, in this room. That $2 trillion is going straight to
the national debt--$32 trillion. Embarrassing.
Even the Democrats' own experts warned them not to do this. President
Obama's economic adviser, Jason Furman, said:
I don't know any economist who is advocating for a spending
bill that size.
Bill Clinton's Treasury Secretary, Larry Summers, said it would cause
inflation. Well, sure enough, a month after the Democrats passed their
spending bill, inflation started going up, and now prices are 14
percent higher than they were when President Biden took office--14
percent. Gas prices are still up by more than a dollar a gallon since
this President took office. The price of diesel is raising costs for
farmers in my State of Alabama and across America, and they are
struggling. In total, inflation has cost the typical American family
more than $8,000 annually since Joe Biden took office.
Last summer, Joe Biden and the Democrats started spending trillions
in taxpayer money again. Didn't learn a lesson. It was an election
year, and they must have thought it was going to help them in the
election.
As of today, Joe Biden has authorized more than 4 trillion--that is
not billion; that is trillion--dollars in spending. That is more money
than we spent in World War II. Again, this is after the Congressional
Budget Office said we didn't need any stimulus, and again, it was money
that we didn't have. We didn't have it. It is no wonder we have had the
highest inflation in 40 years, and it is no wonder Joe Biden is the
least popular President since Jimmy Carter.
Record inflation has caused the fastest increase in interest rates in
40 years, and it is self-inflicted. The American people didn't do that;
this city did that. The interest rate on a mortgage has doubled since
Joe Biden took office--doubled. More and more young people are giving
up on the goal of owning their own home because they can't afford it.
Last summer, Joe Biden also raised taxes on nearly every person in
this country. He wants 85,000 more IRS agents to shake people down
because they need the money. They need the money to help pay this debt
down, but they are going to take it away from the American people. That
should never happen.
So now we are paying the price for inflation, and we are paying more
because of higher taxes.
Last fall, there was a Gallup poll that showed that a record number
of people have given up on the American dream--given up. That is what
everybody wants to come to this country for, is the American dream.
Folks, it ain't here anymore. It is gone.
According to the poll, the majority of Americans do not think their
kids will have a better standard of living than they had when they were
growing up.
Joe Biden shouldn't be bragging right now. Joe Biden ought to be on
an apology tour across this country because it is embarrassing what we
have done to the debt and what we have done to inflation and prices all
over the country. He ought to apologize to the American people for
robbing them of thousands of dollars that they worked for, that they
shouldn't have to send to this place to spend when they don't need it
to be spent. He ought to apologize to the people who are giving up on
the American dream.
Two-thirds of the American people disapprove of the handling of Joe
Biden's economy. And I agree with the American people. Bidenomics has
been a total disaster, and it will go down in history. It will go down
in history. It will be remembered, and it will be studied--how not to
run an economy. Totally wrong.
I yield the floor.
The PRESIDING OFFICER. The majority whip.