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Floor Speech

Date: July 12, 2023
Location: Washington, DC

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Mrs. FISCHER. Madam President, when it comes to the economy, we hear a lot about numbers, the inflation rate, how much more groceries cost, or how many businesses are struggling to find employees. Those numbers are important.

They tell us the big picture story of where our economy is and where it is going. And right now, that is not a pretty picture. But as elected representatives, we work for our people. It is critical that we listen to the voices of the people who live in our States and who are being deeply affected by the numbers we read in Bloomberg or the Wall Street Journal.

In a speech he made last week, President Biden promised that his economic policy is helping across the board ``in rural America, the heartland, all across America.''

He claimed that Bidenomics is the silver bullet for financial struggles among middle-class Americans around the country.

I don't know who the President is talking to, but my experience hearing from Americans in the heartland is a lot different than what he said in that speech. Many Nebraskans are struggling under an unforgiving load of inflation, kick-started by this administration's almost $2 trillion stimulus package in 2021.

So today let's zoom in on Nebraska. When I am back in my home State, I am constantly hearing stories of hardship from my fellow Nebraskans, whether they are farmers, teachers, or small business owners. It is truly painful to hear about some of the experiences people are having due to inflation.

So let me tell you about Bidenomics in Nebraska. When I stopped by a coffee shop in 2022, the owner told me his electric bill had skyrocketed from $40 a month to over $300 a month, and that coffee shop owner is now gone. He couldn't afford Bidenomics, and he closed his shop. That is Bidenomics in Nebraska.

A year later, not much has changed. As one of our Nebraska farmers told me a few weeks ago, ``prices take the elevator up, but the stairs down.''

Inflation causes costs to rise quickly, and they stay up there for a long time. One big economically irresponsible move from the administration--well, that sets the stage for years of struggle. That is Bidenomics in Nebraska.

Several rural businesses in the States shared their struggles with the local newspaper earlier this year. Many of these business owners feel ``at a loss'' for what to do as their livelihoods crumble under the pressure.

A honey farmer shared that consistently rising prices squeeze his family into a difficult position when doing things as simple as putting their honey in jars. Sometimes they could only afford to get the container; sometimes they could only afford to get the lids--but not both.

He said:

We're kind of forgotten about way out here.

That is Bidenomics in Nebraska.

That doesn't line up with the President's boasts of an economy that works for middle-class Americans in the heartland. Instead, while the Biden administration chatters on about its support for the middle class, thousands of people in that category are pulling out all the stops to pay their necessary expenses.

The Salvation Army of Lincoln, NE, reported a couple of months ago that it has seen a 50-percent increase in service requests in just a year. People are going to charities to get help paying rent and utilities as the economy suffers.

A Salvation Army officer said:

For people who are on medical equipment, having their electricity on is a very important aspect.

That is Bidenomics in Nebraska.

The President has a middle-class problem. Average Americans are hollowing out their savings, and they are taking on record debt just to keep up with the stunning levels of inflation--or as the White House likes to call it, Bidenomics.

The President said last week:

Bidenomics is just another way of saying restoring the American Dream.

Wrong.

Since when does the American dream include taking a second job just to be able to afford rent, or having to choose between containers and lids for honey jars, or racking your brain for ways to catch up on an electricity bill that will not stop rising?

The President should step off the podium; he should stop delivering empty promises; and he should actually get down to business fixing the bloated economy that he has created.

Nebraskans are not listening to the administration's inflated claims about helping the middle class, but they are listening to the mortgage increases and to their dwindling savings accounts. Americans know what Bidenomics looks like, and it looks like failed leadership.

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