Lafayette Reporter

Sen. John Kennedy (R-La.) addressed the Senate floor to discuss the impact of persistent inflation on Louisianians, emphasizing how it has eroded personal savings and increased credit card debt. According to Kennedy, inflation has cost the average Louisiana family $22,166 since President Biden assumed office.

"I realize there is a yawning disconnect between what President Biden says and what my people in Louisiana are experiencing," Kennedy remarked. "President Biden says that the economy is just fine. He says the economy is just wonderful. And I’ll tell you what my people say. My people say, ‘With respect, Mr. President, you need to put down the bong because, in our state, we are paying more to live worse. And we're not going to be able to retire because of you, Mr. President, until four years after we’re dead.’"

Kennedy provided specific figures regarding household income and expenses: "Our median household income is about $58,000. That's mom and dad both working. Two children. $58,000. It's about $4,800 a month. President Biden's inflation is costing my people an extra $900 a month... Since President Biden has been president, his inflation has cost the average family in Louisiana an extra $22,000."

He highlighted significant increases in consumer goods prices: "The prices of consumer goods in my state are up 20% since President Biden took office... Credit card debt is up 46%. The average credit card balance in Louisiana is now $5,800... Delinquent credit card debt is up 11%, the highest in 12 years."

Kennedy detailed rises in essential costs: "The average electricity bill in Louisiana is up 28% since President Biden took office... Gasoline: up 53%. Eggs: 69%. Bread: 28%. Coffee: 28%. Rice: 29%. Flour: 30%. Milk: 15%. Ice cream: 22%. Chicken per pound: 27%."

He concluded by criticizing the administration’s handling of inflation: "It hurts deeply... President Biden’s inflation in my state is a cancer on the American dream... Jason Furman—now at Harvard—said, ‘With all due respect, Mr. President, you spend this kind of money; you’re going to have inflation.’ And we did... The worst part of this is that President Biden has no plan to get it down."

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