Biden: ‘If Republicans Win, Inflation Is Going To Get Worse’

BIDEN: “Today’s report shows, though, some progress. Overall, inflation was two percent over the last three months. That’s down from 11 percent over the prior three months. That’s progress, but a lot of it is result of getting the cost of living at the gas pump down by more — now even California, now by more than a dollar nationally and since the start of this summer. There’s a big difference for working folks.”

"Folks, seniors will get ahead of inflation next year. For the first time in ten years, their Social Security checks will go up while their Medicare premiums go down. Here is my final point: we’ve got an election in a month. Voters have to decide. Democrats are working to bring down the cost of things that are talked about around the kitchen table, from prescription drugs to health insurance to energy bills and so much more. We’re standing up for working people and the right to get a raise and get a better job. Republicans are campaigning every day on an agenda to raise your costs.”

"You know, I should point out before I go on, the Republican platform so far for this off-year election, led by a senator from — Senator Scott from down in Florida, as well as the Senator Johnson from up in Wisconsin, and you know what they argue? This is on paper. That, in fact, we should be in a situation where Social Security, Medicare, Medicaid should have to be voted on every single year. Every year. The guy from Florida says every five. The guy from Wisconsin says no, every year, including veterans’ benefits. So the idea is you either vote for them or they go out of existence, or you cut them, but you’ve got to affirmatively vote every year. You’ve been paying into a Social Security account from the time you were 16 years old, your first summer job. It’s not fair. And the biggest thing they say they want to do, they want to get rid of, get rid of, their number one priority and they’ve spoken to it, they want to repeal the Inflation Reduction Act. That means they’re gonna repeal the $2,000 cap on prescription drugs, gone; cap on insulin, gone at 35 bucks; saving on healthcare premiums, average of $400 a person, gone; savings on utility bills, gone; corporate minimum tax of 15 percent... By the way, they got very upset with me. They got very upset with me. You know what I did? Well, there were 55 American corporations made $40 billion in 2020, did not pay a single penny, not a penny in federal tax, so I was so harsh, I suggested they pay 15 percent, less than you pay, 15 percent to pay for all this, and it’s paid for. But guess what? My Republican colleagues think that’s unfair, they want to repeal that tax. Folks, you know, Republicans are going to make you working middle-class folks pay higher taxes than the biggest corporations.”

"If Republicans win, inflation is going to get worse. It’s that simple”