Ever the thorn in President Joe Biden’s side, moderate Democratic Senator for West Virginia, Joe Manchin, said on Wednesday that the latest inflation figures prove that the rising cost of living is a “clear and present danger to our economy.”
Following the release of June’s inflation data from the U.S. Bureau of Labor Statistics, Manchin said that his own party has been slow to respond to the threat of rising prices.
“For more than a year, leaders in Washington have ignored the serious concerns raised by myself and others about the rising cost of inflation,” Manchin said in a statement.
“No matter what spending aspirations some in Congress may have, it is clear to anyone who visits a grocery store or a gas station that we cannot add any more fuel to this inflation fire,” the senator also said.
Manchin’s comments were a clear reference to ongoing discussions between him and fellow Democratic senators who wish to increase the size of a pending budget package and to increase the cap on state and local tax deductions.
Manchin has so far agreed with Democratic Senate leader Chuck Schumer on a package that aims to reduce the price of prescription drugs, and which implements a new 3.8% tax on wealthy individuals who generate income through pass-through businesses.
However, the agreement was this week thrown into question as Manchin once again questions the impact of additional spending on rising inflation.
What’s the Latest On Inflation?
Manchin’s comments come after the latest Consumer Price Index data shows a 9.1% increase in prices for June, compared to June of 2021. Adjusted for inflation, workers’ hourly wages also fell by 1% during June, and wages are also down by 3.6% over the last year.
According to the latest report from the U.S. Bureau of Labor Statistics, the cost of food also increased by 10.4% in June.
“The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent in June on a seasonally adjusted basis after rising 1.0 percent in May, the U.S. Bureau of Labor Statistics reported today,” a statement revealed.
“Over the last 12 months, the all items index increased 9.1 percent before seasonal adjustment.”
The Bureau of Labor Statistics also said that the index for all items less food and energy rose by 0.7% in June, following a 0.6% increase in the preceding two months.
Manchin’s latest comments not only suggest the Democrats could have an even tougher time negotiating legislation with him in the months leading up to the November midterms but reflects the growing significance of the economy on his party’s chances the next time voters go to the polls.
Jack Buckby is a British author, counter-extremism researcher, and journalist based in New York. Reporting on the U.K., Europe, and the U.S., he works to analyze and understand left-wing and right-wing radicalization, and reports on Western governments’ approaches to the pressing issues of today. His books and research papers explore these themes and propose pragmatic solutions to our increasingly polarized society.
