Rep. Dan Meuser, R-Pa., said on Newsmax's "Wake Up America" on Tuesday that he is troubled by the latest inflation figures showing that consumer prices rose 7.1% in November from a year ago.
According to The Associated Press, consumer prices rose 7.1% in November from a year ago, down from 7.7% in October and a recent peak of 9.1% in June, the government said Tuesday. It was the fifth straight slowdown.
On a month-to-month basis, the consumer price index rose just 0.1% in November, down from 0.4% in October.
"The patient is still sick," said Meuser, who sits on the House Small Business Committee. "The patient had a 103.9 temperature and now it's 103. Better, but the patient is still very sick.
"The level of spending, the student loans gimmick — things like this is what have caused inflation. This administration does not get it. We need to fortify the production side of America and not so much of the consumer side.
"Now, you have the Fed trying to curb the consumer spending through higher interest rates which, of course, will have no effect on energy and people are maxing out their credit cards.
"I can't imagine how we don't go into a recession heading into next year. I don't see a lot of bright things going into the first quarter."
About NEWSMAX TV:
NEWSMAX is the fastest-growing cable news channel in America!
Jeffrey Rodack ✉
Jeffrey Rodack, who has nearly a half century in news as a senior editor and city editor for national and local publications, has covered politics for Newsmax for nearly seven years.
© 2023 Newsmax. All rights reserved.