ALEC in American Family News: Families are being left further behind
One of the big problems here is [that] the gap between the growth in wages and inflation is still vast – and that means American families are being left further behind each month as their wages have stagnated.
American Family News featured ALEC VP of Policy Lee Schalk reacting to the July Consumer Price Index report showing inflation at 8.5%.
WASHINGTON — Falling gas prices gave Americans a slight break from the pain of high inflation last month, though the surge in overall prices slowed only modestly from the four-decade high it reached in June.
Consumer prices jumped 8.5% in July compared with a year earlier, the government said Wednesday, down from a 9.1% year-over-year jump in June. On a monthly basis, prices were unchanged from June to July, the smallest such rise more than two years.
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“One of the big problems here is [that] the gap between the growth in wages and inflation is still vast – and that means American families are being left further behind each month as their wages have stagnated.”
“The [Democrat-led Inflation Reduction Act] only continues the high-tax and high-spend habits that really got us into this problem in the first place. It’s not just that we need to stop the reckless spending, but we really need to cut spending.”
Lee Schalk, vice president of policy
American Legislative Exchange Council