Lankford, Scott, colleagues want to stop Congress from overspending when inflation soars

Okay, first of all, I think the last three words ("when inflation soars") should be left out of their chosen headline and effort. Republicans absolutely looooove to talk about government overspending -- when they're out of power. I've lost count of the times they failed to remember that when they controlled the purse strings. Anyway, maybe one day they'll get that right. Lankford, Scott, Colleagues Want to Stop Congress from Overspending When Inflation Soars OKLAHOMA CITY, OK – Senator James Lankford (R-OK) joined Senators Tim Scott (R-SC) and John Thune (R-SD), and eight of their colleagues to introduce the Inflation Prevention Act (IPA) to help combat inflationary spending. Due to record government spending over the last two years, many Americans face rapidly rising costs of consumer goods. This bill would bar legislation estimated to increase inflation until the year-over-year inflation rate drops below 4.5 percent. Lankford, Scott, and Thune are joined on the bill by Senators Chuck Grassley (R-IA), Rick Scott (R-FL), Joni Ernst (R-IA), Todd Young (R-IN), Marco Rubio (R-FL), John Hoeven (R-ND), Bill Hagerty (R-TN), and Steve Daines (R-MT). “It’s clear that Democrats’ reckless spending approach to the pandemic has created the inflation crisis Oklahomans now face, especially after inflation hit a devastating seven percent in December,” said Lankford. “I have warned about the impact of out-of-control spending on our economy for years. Our proposal protects against federal over spending that makes inflation worse, helps make sure future emergency spending only moves forward when absolutely needed, and reins it in when the federal pork barrel buffet starts to roll toward inflation.” “American families cannot continue to endure the burden of skyrocketing costs of everyday goods brought on by reckless spending in Washington,” said Tim Scott. “A sound financial future requires wise financial action now.” “Our country is facing the highest level of inflation in nearly 40 years, and South Dakotans are paying more for food, utilities, and gas,” said Thune. “I’m proud to join Sen. Scott in the fight to stop the Democrats’ reckless tax-and-spending spree, which would significantly worsen the already damaging inflation crisis.” Read more » by Jamison Faught - January 17, 2022 at 04:56PM

Lankford, Scott, colleagues want to stop Congress from overspending when inflation soars Click the title to read the entire article at Muskogee Politico