Thanks to the American Rescue Plan and the Bipartisan Infrastructure Bill, our economy is on the road to recovery. But the sudden increase in demand has caused disruptions to our supply chain and families are still feeling the effects of this pandemic with higher prices at the gas pump and grocery store.
“President Biden and congressional Democrats are not going to allow Republican inaction to hinder our economic recovery from this pandemic,” said American Bridge 21st Century President Jessica Floyd. “While American families have faced incredible challenges over the past two years, the GOP has celebrated higher costs – they’re playing politics instead of doing anything to solve problems. Meanwhile, Democrats have delivered 7 million new jobs in one year. Democrats know there is still much more that needs to be done to ease the financial burden for everyday Americans, which is why we are laser-focused on fixing our economy so working families can thrive. Democrats will continue to use every tool at our disposal to make child care, health care, education, and everyday essentials more affordable. And here at American Bridge, we won’t stop calling out the GOP for making life harder for families by obstructing efforts to combat inflation.”
In the last 12 months, President Biden has created a record seven million jobs, but his administration remains focused on lowering costs for working families so that every American can share in the benefits of a grown economy.
The Atlantic: “Compared with the federal government’s response to the 2008 financial crisis, the recovery from the COVID-19 crash has been an extraordinary success. It took more than a decade after the onset of the previous recession for the unemployment rate to fall back to 4 percent, the level where it stands today.”
Yahoo Finance: “Of the eight presidents, Biden gets the highest marks for the total number of new jobs created since he took office, and also for real GDP growth per capita. Biden also gets top marks for the increase in exports during his presidency […]”
Democrats have worked around the clock to lower the cost of prescription drugs, raise wages for workers, and fix the supply chain.
CNN: “President Joe Biden will make the case on Thursday that lowering prescription drug prices will ease one of the largest financial burdens American families face and will ultimately lead to more Americans working […]”
Fortune: “Over the past year, workers’ hourly pay has increased by 5.7%. The average hourly wage for production workers was $26.92, up by 6.9% year over year.”
Financial Times: “ [AP Moller-Maersk, a shipping group,] expected a ‘normalisation of the situation’ and a fall in freight rates as Covid restrictions are lifted and infection rates fall […]”
Meanwhile, Republicans have no plan to help cut costs for middle-class families, and they oppose Democratic proposals to lower such costs, because they admit they see inflation as a “goldmine” that can help them politically.
USA Today: The Republican plan for inflation? It’s more about the 2022 campaign than current policy
Axios: “Mitch McConnell has told colleagues and donors Senate Republicans won’t release a legislative agenda before next year’s midterms, according to people who’ve attended private meetings with the minority leader.”