Sen. Roger Marshall, R-Kan., told Newsmax that the failed policies of President Joe Biden have led to ''Bidenflation,'' consisting of shortages and rapidly rising prices.
''Everyone better buckle up. Grab your wallet, 'Bidenflation' is here to stay,'' Marshall said on Friday's ''Eric Bolling: The Balance.'' ''The cost of everything is going up as long as he continues these failed policies. These policies that are basically just piling on top of ... one another, multiplying. We're going to see more and more 'Bidenflation.'''
Marshall, who sits on the Senate Committee on Agriculture, Nutrition, and Forestry, said that price of everything in that sector — including fertilizer, natural gas and meat production — is rising, fueled mostly by a labor shortage.
''It's because of the workers shortage. The [meatpacking] plant's ability to process the meat and get it to market has been shrunk,'' Marshall said. ''There's [also] been a shortage of truck drivers before the pandemic, and it worsened during the pandemic, and then Joe Biden was paying people more to stay at home than to go to work.
''And now he is throwing a vaccine mandate on top of that, and we're going to end up with a huge labor shortage, leading to more bottlenecks and more inflation.''
According to the Bureau of Labor Statistics, the consumer price index rose 5.4% compared with September 2020.
White House press secretary Jen Psaki said Wednesday that the rate of inflation has decreased by 50% in recent months.
''I would note that we've seen a decrease over the course of time, and that is still evident, if you look month to month, with the data that came out this morning,'' Psaki said of the Consumer Price Index numbers released Wednesday.
''So, between the second quarter and third quarter of this year, monthly inflation increases have actually decelerated by 50%. And just to give you more specific data points, it was around 0.8%, and then it went down 0.4%. Hence, 50%,'' she said.
Marshall said, however, that the trends mirror inflation in the past, leading to more inflation as time passes.
''I'm old enough to have lived through the 1980s to see inflation happen, and it's basically like a dog chasing its tail,'' he said. ''You have wages go up, and then the price of goods goes up. The cost of living goes up, and then the unions start striking because their wages aren't keeping up with the inflation.
''And now Biden's going to throw more gasoline onto the fire because of his unconstitutional vaccine mandate he wants to throw out there on top of us. So, we are getting ready to see a huge fire of inflation,'' Marshall said.
Psaki said the increases were because of ''turning the economy back on'' from the COVID-19 pandemic.
''We think this decrease reflects the view of the Federal Reserve continues to be — and many Wall Street forecasters, which continue to predict — project that inflation is expected to continue to decelerate in 2022 and beyond, as we come out of the pandemic,'' she said.
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