How expensive was your Thanksgiving dinner this year? For families across the country, it was the most expensive on record. Imagine how much money you’ll be forking out in the days and weeks leading up to Christmas. According to NBC News, thanks to President Biden’s inflation crisis, the average shopper is expected to spend nine percent more this holiday season. The question that immediately comes to my mind is, “Will Christmas now be the most expensive on record?”
According to a survey from the National Retail Federation, 61% of consumers had already started shopping for Christmas gifts before Thanksgiving so that they would not be forced to pay more. Adobe Analytics released an analysis revealing that out-of-stock messages on retail websites are experiencing a 124% jump over the past few days. CNBC even reported that Black Friday shopping in stores dropped by 28% as more Americans are trying to save more money.
The tightening grip of inflation is not just on presents this year. Below are a few examples of other commodities that we’re seeing become out of reach:
- Beef and veal prices are up 20.1%.
- Electricity prices are up 11.2%.
- Baby food is up almost 8%.
- Car and truck rental prices are up almost 40%.
- Hotel room prices are up 25.5%.
For 11 months, we have seen failed and irresponsible policies drive up inflation, crush hardworking families, and leave our economy in a state of utter squalor. Every day, I’m fighting in Washington to protect the 5th District, and its countless families, from these obscene schemes. We deserve much better.
Under H.R. 5376, the so-called “Build Back Better Act” that was passed by the U.S. House on November 19, the $10,000 cap on state and local tax deductions – previously set under the Tax Cuts & Jobs Act – would be raised to $80,000 through 2030. The Committee for a Responsible Federal Budget, a nonpartisan organization in Washington, estimated that raising the SALT cap to $80,000 equates to a gift of $625 billion in perpetuity to wealthy Americans.
In my latest op-ed in the Carolina Journal, I lay out the case as to why North Carolinians across the state, and especially in the Fifth District, are getting the short end of the stick under this socialist spending spree. The Senate must kill this bill.
The 12 Scams of Christmas
The Christmas season is here, and as we prepare to spend time alongside our loved ones, scammers are already planning to undercut our holiday cheer. In anticipation of these new schemes, the Better Business Bureau (BBB) has released it’s “12 Scams of Christmas” to help consumers avoid and identify scams both online and in person. From misleading advertisements on social media to temporary holiday jobs, scammers are coming up with new and elusive ways to rob people of their hard-earned money and personal information around the most important time of the year.
To make sure you have the information you need, linked here is a copy of the BBB’s list of scams.
Quote of The Week
“Inflation is the most universal tax of all.”
Have a blessed weekend.