Sen. Raphael Warnock (D-GA) refused to take responsibility during Friday night’s debate for record-high inflation; he instead blamed corporations.
“There is no question people are feeling pain at the grocery store and pump,” Warnock admitted about inflation. “While we are seeing record prices, a lot of our corporate actors are seeing record profits in the gas industry and the pharmaceutical industry.”
Trump-endorsed Republican challenger Herschel Walker slammed Warnock for fueling inflation by spending massive amounts of taxpayer money.
“Right now families are hurting. And they are hurting because of the bills and the laws you are passing,” Walker shot back.
Warnock has voted for the $433 billion “Inflation Reduction Act,” which will raise taxes “significantly,” fund the IRS to go after middle-class Americans, reduce GDP, and could worsen inflation in the long term.
Warnock voted for Biden’s $1.9 trillion American Rescue Plan Act, despite warnings that it would worsen inflation. Since then, inflation hit its highest level in 40 years.
Inflation, however, is already at record highs despite the “Inflation Reduction Act.” The Consumer Price Index (CPI) in September rose 8.2 percent compared to a year earlier. Compared to a month ago, prices were up 0.4 percent, twice what forecasters had expected.
Americans are suffering in Biden’s sluggish economy. A recent Heritage Foundation study shows Americans have lost $4,200 in annual income since Biden assumed office. Other experts project inflation will cost American families $5,520 in 2022.
Recent polling shows the race in Georgia is very close, with Walker leading. The midterm election day is 25 days away.