https://sputnikglobe.com/20211119/dems-urge-biden-to-take-greater-action-against-soaring-inflation-1090863693.html
Dems Urge Biden to Take Greater Action Against Soaring Inflation
Dems Urge Biden to Take Greater Action Against Soaring Inflation
Sputnik International
The United States has seen inflation soar to a record high of 6.2 percent - a level which hasn't been seen in three decades. With the US economy already hit by... 19.11.2021, Sputnik International
2021-11-19T17:46+0000
2021-11-19T17:46+0000
2022-12-19T13:59+0000
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Calls from frontline House and Senate Democrats on President Joe Biden to take more action to tackle surging prices are becoming increasingly urgent as they feel frustrated about how little is presently being done to solve the problem, Axios reported Friday.One such Democrat calling for more decisive action on inflation is Representative Elissa Slotkin of Michigan's 8th Congressional District, who penned a letter to the President, offering him two recommendations: first, to increase the diplomatic pressure on Saudi Arabia and other OPEC+ countries, and second, to consider a release of oil from the Strategic Petroleum Reserve "as a signal that could help push global markets in the right direction".She also expressed her support for "aggressive action" to alleviate the inflation crisis.President Biden called the high prices "worrisome" but he invoked the power of his Build Back Better agenda - newly passed in the House - as a tool to "lower costs for families right away".A White House official also told Axios that the administration is "engaging with countries and entities abroad such as OPEC+ on increasing supply".Slotkin is, however, not the only one to be concerned about inflation: the sentiment is shared by other Democrat lawmakers.Representative Elaine Luria of Virginia's 2nd Congressional District, told Politico that she is "worried" about inflation, revealing that she has personally noticed the surge of prices at the petrol stations.The US inflation has set a 30-year-record of 6.2 percent, drawing yet another wave of criticism of Biden's social and climate-spending goals outlined in his estimated $1.75 trillion Build Back Better agenda. After it was passed in the House on early Friday, the Republicans lashed out at the Bill, claiming that it will make inflation rocket even higher.
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Dems Urge Biden to Take Greater Action Against Soaring Inflation
17:46 GMT 19.11.2021 (Updated: 13:59 GMT 19.12.2022) The United States has seen inflation soar to a record high of 6.2 percent - a level which hasn't been seen in three decades. With the US economy already hit by the coronavirus pandemic, some lawmakers have voiced concerns that the Biden administration's social and climate-spending ambitions might worsen the situation.
Calls from frontline House and Senate Democrats on President Joe Biden to take more action to tackle surging prices are becoming increasingly urgent as they feel frustrated about how little is presently being done to solve the problem, Axios
reported Friday.
One such Democrat calling for more decisive action on inflation is Representative Elissa Slotkin of Michigan's 8th Congressional District, who
penned a letter to the President, offering him two recommendations: first, to increase the diplomatic pressure on Saudi Arabia and other OPEC+ countries, and second, to consider a release of oil from the Strategic Petroleum Reserve "as a signal that could help push global markets in the right direction".
"With the steps outlined above, along with a range of other options, I believe you can begin to address the inflationary crisis affecting Americans today, ahead of the holidays. More than ever, I feel that your leadership is needed," Slotkin wrote.
She also expressed her support for "aggressive action" to alleviate the inflation crisis.
President Biden called the high prices "worrisome" but he invoked the power of his Build Back Better agenda - newly passed in the House - as a tool to "lower costs for families right away".
19 November 2021, 14:47 GMT
A White House official also told Axios that the administration is "engaging with countries and entities abroad such as OPEC+ on increasing supply".
"We’re looking at all the tools in our arsenal - we’re very concerned about the impact of high energy prices on consumers," the unnamed official claimed.
Slotkin is, however, not the only one to be concerned about inflation: the sentiment is shared by other Democrat lawmakers.
"Inflation hits middle-class, working-class people hard. Obviously I'm concerned - hopefully this is a short period of inflationary pressure," Mark Kelly, a Democrat senator from Arizona, told Axios.
Representative Elaine Luria of Virginia's 2nd Congressional District,
told Politico that she is "worried" about inflation, revealing that she has personally noticed the surge of prices at the petrol stations.
"Prices are going up, and I know that that's stressful for people, especially around the holidays," she said.
The US inflation has set a 30-year-record of 6.2 percent, drawing yet another wave of criticism of Biden's social and climate-spending goals outlined in his estimated $1.75 trillion Build Back Better agenda. After it was passed in the House on early Friday, the Republicans lashed out at the Bill, claiming that it will make inflation rocket even higher.
