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‘We can’t keep flooding the market’: Joe Manchin condemns Biden’s $1.2 trillion Build Back Better plan

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West Virginia Senator Joe Manchin continued to suggest he would be a hindrance to Joe Biden’s $1.2 trillion Build Back Better social spending plan Tuesday.

Manchin told the Wall Street Journal that he has not yet made a decision on whether or not to vote in favor of the bill and is concerned about possible inflation.

“We have to make sure we do this right,” Manchin said. “We can’t afford to keep flooding the market like we’ve done.”

He cited an op-ed he wrote in September in which he argued that Democrats should pause as they try to push the bill over inflation concerns.

“Then I got worried and I said let’s take a strategic break,” Manchin said, adding that he is still “strongly convinced.”

President Biden himself said last week that one of his short-term priorities was to reverse inflation

President Biden himself said last week that one of his short-term priorities was to reverse inflation

The consumer price index rose 6.2 percent in October 2021 from a year earlier - the highest since 1990

The consumer price index rose 6.2 percent in October 2021 from a year earlier – the highest since 1990

Manchin has previously said he opposes the inclusion of paid leave policies in the bill, as well as provisions that would encourage companies to move to clean energy, which have since been scrapped.

Manchin was also critical of both parties for trying to use budget alignment to try and pass on the administrative priorities.

“It was never intended to be used for major policy changes,” he said.

Other Democrats have argued that they should use reconciliation, or consider getting rid of the filibuster, because most of their agenda is supported only by the 50 members of their caucus.

With a 50-50 split in the Senate, Democrats must let each member vote so Vice President Kamala Harris can cast a casting vote.

Biden has vowed to make reversing rising inflation in the country a “top priority” after the consumer price index showed inflation is at its highest level in 31 years.

The president has attributed the 6.2 percent rise in the cost of living to “market manipulation” and rising gas prices, despite the country’s top economists pointing to the country’s supply chain shortages and companies struggling to meet to meet the demand of COVID shutdowns as the reason for the rise in prices.

Biden said in a statement last Wednesday that his $1.2 trillion Build Back Better plan will help slow the growing inflation problem and Treasury Secretary Janet Yellen has vowed inflation won’t reach the exorbitant levels they had during the Carter years. , even as household indebtedness rises to an all-time high.

The report provoked some backlash from top Republicans and outspoken critics of his own party, such as Senator Joe Manchin, who tweeted the same day that “the threat of inflation is not ‘transient’ and is instead getting worse.”

“From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day,” he wrote.

The consumer price index shows an increase in prices in every category from used cars, washing equipment, furniture to food

The consumer price index shows an increase in prices in every category from used cars, washing equipment, furniture to food

sen.  Joe Manchin tweeted Wednesday: 'DC can no longer ignore the economic pain Americans feel every day'

sen. Joe Manchin tweeted Wednesday: ‘DC can no longer ignore the economic pain Americans feel every day’

The Republican response has been swift as inflation hit its highest level since George HW Bush took office

The Republican reaction was swift as inflation reached its highest level since George HW Bush took office

President Joe Biden stepped out of Air Force One in Baltimore on Wednesday

He gives a speech in Baltimore touting his Build Back Better plan

President Joe Biden arrived in Baltimore on Wednesday in the wake of the inflation report to tout the Build Back Better plan, which he claims will bring relief to struggling Americans.

In a statement following the release of the Consumer Price Index on Wednesday, President Joe Biden said he is working to address the growing problem.

“Inflation is hurting Americans’ wallets, and reversing this trend is a top priority for me,” he said, pointing out he has instructed the National Economic Council “to seek resources to try and further reduce these costs, and the Federal Trade Commission have called for retaliation against any market manipulation or price push.

Republicans were quick to criticize the president’s policies, however, as inflation reached its highest level since George HW Bush took office.

They blamed soaring inflation on President Biden’s spending, as well as on the Democratic Party’s agenda — specifically, the third round of emergency controls and the expansion of federal unemployment benefits included in the March stimulus bill.

In a statement following the report on Wednesday, Florida Senator Rick Scott said, “Each month of Biden’s presidency, inflation has risen and prices have risen for hard-working families. His answer? More reckless spending.

US unemployment claims plummet to pandemic low of 267,000 – but there are still 10 million job openings across the country to fill

Wednesday’s consumer price index report comes as the number of Americans filing for unemployment benefits fell to a new pandemic low of 267,000 last week.

Unemployment claims fell 4,000 last week, the Department of Labor reported Wednesday, and the four-week average of claims, which flattened out weekly ups and downs, fell nearly 7,300 to 278,000, also a pandemic low.

Claims for unemployment aid have largely fallen steadily since crossing the 900,000 mark in early January and are gradually approaching pre-pandemic levels of around 220,000 per week. Claims, a proxy for layoffs, have now fallen for six straight weeks.

In the week ending October 30, there were 2.2 million Americans receiving traditional unemployment benefits.

Still, companies across the country report a labor shortage, with 10 million jobs to fill.

Companies have now passed the cost of less staff on to consumers.

“Gas prices are skyrocketing, leaving low-income, fixed-income families like mine growing up with the impossible choice of either putting a few gallons in the tank or putting more food on the table.

“When it comes to helping working American families, President Biden and Democrats in Washington have flown beyond sheer incompetence and decided to be the first to go into deliberate destruction,” Scott said. “You don’t have to look beyond today’s dismal CPI report to see that’s true.”

House Minority leader Kevin McCarthy, of California, also released a statement saying, “Joe Biden’s plan to raise Americans’ living standards has been a complete failure.

‘The cost of getting by in the’ The United States is growing faster today than it has been in 30 years. And with the holidays just around the corner, the Biden administration has only exacerbated fears facing families as we approach the most expensive Thanksgiving ever, which comes with rising prices and scarcity of goods.

‘Americans see it with their own eyes: ships are piled up in our ports, shelves in empty shops and heating and gas prices continue to rise. All of these issues put direct strain on American families’ wallets,” McCarthy said.

Meanwhile, President Biden and Chairman Pelosi are focused only on spending trillions of dollars — on top of the extraordinary $2.3 trillion Washington Democrats already set this year — that will inevitably worsen each of these crises.

“The American people want to end the chaos this administration has created, and today’s data is clear: we cannot afford the consequences of the Democrats’ failed agenda.”

And in a statement to DailyMail.com, Ronna McDaniel, chair of the Republican National Committee, said: “American families are facing record costs for everyday goods, from gas to groceries, but Joe Biden continues to push for trillions of dollars in wasteful spending and the largest tax increase in decades.

Enforcing unconstitutional mandates on workers and small businesses, giving tax cuts to the rich and asking hard-working Americans to foot the bill for a socialist wish list are proofs of how outdated Biden and Democrats are with reality. In Biden’s America, your salary is worth less and you owe the government more.”

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