Taxpayer Watchdog Responds to Record Inflation Numbers

For Immediate Release

Contact: David Williams (202-258-6527)

Washington, D.C. – The Taxpayers Protection Alliance (TPA) is disappointed, but not surprised to see the latest inflation numbers are the highest in nearly four decades. This inflation is the result of reckless government spending that erodes the value of every American dollar.

In response, TPA Vice President of Policy Patrick Hedger offered the following comment:

“The federal government has spent trillions of dollars over the last few years, leading the nation to record deficits. These latest inflation numbers should be a wake-up call to every single public official that the spending in Washington needs to come under control as soon as possible. Inflation is a form of taxation that decreases the value of the paycheck of every single American. It is unacceptable.

“Unfortunately, lawmakers don’t seem to care. As these troubling inflation numbers come in, politicians in Washington continue to queue up the massive multi-trillion dollar Build Back Better spending package and a backdoor process to circumvent legitimate debate surrounding the debt ceiling.

“Worse yet, lawmakers are using budgetary gimmicks to obscure the true cost of the Build Back Better Act from the American people. Provisions of this bill are ostensibly temporary to keep advertised cost down. But, if provisions are made permanent – as many have said they plan to do – this bill will add another $3 trillion to the deficit. It is long past time that lawmakers start taking their spending habits seriously and consider the effects on the nation.

Inflation is out of control and it is time to stop adding to those inflationary pressures by spending trillions of taxpayer dollars.”

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Taxpayers Protection Alliance (TPA) is a non-profit, non-partisan organization dedicated to educating the public through the research, analysis and dissemination of information on the government’s effects on the economy.