Fall 2024 Economic Update
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| Fall 2024 Economic Snapshot | |
| Senator Rick Scott released a weekly update on his actions to address America’s debt crisis and rising inflation and re-shared a copy of his Fall 2024 Economic Snapshot. Every day, Senator Scott is hearing from constituents about how much of a struggle it is for them to make ends meet due to the historic inflation caused by Biden-Harris Price Hikes. Last year, Senator Scott began distributing a report to his colleagues in the Senate, shedding light on America’s current concerning economic conditions. This report highlights the fiscal cliff the country is quickly approaching in the hopes of beginning a productive dialogue in Congress on how members can work together to fix the economic mess our country finds itself in today. Senator Scott releases this report on a quarterly basis. Since President Joe Biden and Vice President Kamala Harris took office, CPI inflation is up 20.7%, while PPI inflation has risen 20.5%. Last month, Senator Rick Scott said, “We can all feel the impact of the ongoing inflation crisis caused by the failed policies of the Biden-Harris administration, and the goal of this report is to bring in-depth attention to the fiscal cliff our nation is quickly approaching. Since Vice President Harris and President Biden took office, inflation has skyrocketed more than 20% and Biden-Harris Price Hikes are crushing hardworking American families. In Washington, it is my job to ensure we are fighting every day to leave this country in a place where future generations can achieve the American Dream. It is personal for me. I grew up in public housing and watched my mom struggle to make ends meet. It breaks my heart that families are having to make the tough decisions and go without. It is time for a sea change in Washington so that we can get families back on their feet, this country back on the path to fiscal sanity and make Washington work for everyone.” Read Senator Rick Scott’s Fall 2024 Economic Snapshot HERE or below.  Read more HERE. — Sen. Rick Scott on CPI Report: President Trump Will End the Biden-Harris Inflation Crisis Following the latest Consumer Price Index (CPI) release from the Bureau of Labor Statistics (BLS), Senator Rick Scott released the below statement highlighting the need to implement substantive fiscal reforms in the new year to finally put an end to the ongoing inflation crisis fueled by the Biden-Harris administration’s reckless tax-and-spend agenda. October’s CPI data shows that there has been a significant rise in inflation during the Biden-Harris administration, with CPI increasing 2.6% percent over the year in October 2024—higher than last month. Since the Biden-Harris administration took office, inflation is up 20.7%. Senator Rick Scott said,“Since the Biden-Harris administration took office, inflation has skyrocketed more than 20% and its failed economic agenda has wreaked havoc on the American Dream. The American people clearly want change in Washington to turn our economy around and end the inflation nightmare this administration has created. When President Trump takes office in January, I am confident we will finally change course and end the Biden-Harris inflation catastrophe that has plagued families and their wallets for the past four years.” According to today’s CPI release, price increases over the year include:
— Sen. Rick Scott on PPI Report: Failures of Biden-Harris Admin Continue Hurting American Families with High Prices Senator Rick Scott released the below statement following the latest Producer Price Index (PPI) release from the Bureau of Labor Statistics (BLS) highlighting the need to implement substantive fiscal reforms to end the ongoing inflation crisis fueled by the Biden-Harris administration’s reckless tax-and-spend agenda. October’s PPI data shows that there has been a significant rise in inflation during the Biden-Harris administration. Since President Biden and Vice President Harris took office, PPI inflation is up 20.5 percent. Senator Rick Scott said, “The American people have suffered every single day under the Biden-Harris administration thanks to the failed policies that have caused record inflation. PPI inflation is up more than 20 percent since this disastrous administration took office, but President Biden and Vice President Harris have shown they have no plan or desire to stop it. As I travel around Florida and talk to folks, I hear constantly from small businesses that are struggling to stay afloat with Biden-Harris Price Hikes, and that the American dream is being erased from reality as a result. Growing up in public housing, I know firsthand how devastating even small price increases can be for families because I watched my mom struggle with it when I was a kid. When President Trump takes office in January, I am confident we will finally change course and end the Biden-Harris inflation catastrophe that has plagued families and their wallets for the past four years.” According to today’s PPI release, price increases over the year included:
— Since being elected to the U.S. Senate, Senator Scott has repeatedly urged action to address America’s debt crisis and the harmful effects of inflation. Click HERE for a comprehensive list of his statements and actions on this urgent issue and HERE for Senator Scott’s Quarterly Economic Snapshot. — |
