{"id":1510535,"date":"2022-06-10T14:20:12","date_gmt":"2022-06-10T18:20:12","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1510535"},"modified":"2022-06-10T14:20:18","modified_gmt":"2022-06-10T18:20:18","slug":"heres-how-democrats-are-reacting-to-inflation-reaching-new-highs","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/heres-how-democrats-are-reacting-to-inflation-reaching-new-highs\/","title":{"rendered":"Here\u2019s How Democrats Are Reacting To Inflation Reaching New Highs"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fheres-how-democrats-are-reacting-to-inflation-reaching-new-highs%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1510535&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Amid news of <a href=\"https:\/\/www.dailywire.com\/topic\/inflation\">inflation<\/a> reaching another record high, <a href=\"https:\/\/www.dailywire.com\/topic\/democrats\">Democrats<\/a> are circling their wagons around legislation meant to crack down on <a href=\"https:\/\/www.dailywire.com\/topic\/economy\">corporations<\/a> purportedly engaged in price-gouging.<\/p>\n<p>The Consumer Price Index (CPI) <a href=\"https:\/\/www.dailywire.com\/news\/inflation-reaches-8-6-setting-new-four-decade-high\">rose<\/a> 8.6% between May 2021 and May 2022 \u2014 meaning that inflation reached its highest levels in four decades, a Friday morning report from the <a href=\"https:\/\/www.bls.gov\/news.release\/cpi.nr0.htm\">U.S. Bureau of Labor Statistics<\/a> revealed. The new figure was worse than the Dow Jones estimate of 8.3% year-over-year inflation in May, according to <a href=\"https:\/\/www.cnbc.com\/2022\/06\/09\/may-consumer-inflation-expected-fiery-hot-as-gas-food-and-rent-rose.html#:~:text=The%20CPI%20report%20is%20released,ET%20Friday.\">CNBC<\/a>.<\/p>\n<p>As inflation has continued to soar over the past several months, progressives have placed the blame on businesses. Although most social media accounts for Democratic members of the Senate discussed the January 6 protest hearings on Friday morning while remaining silent about inflation, two lawmakers \u2014 Sen. <a href=\"https:\/\/www.dailywire.com\/topic\/amy-klobuchar\">Amy Klobuchar<\/a> (D-MN) and Sen. <a href=\"https:\/\/www.dailywire.com\/topic\/elizabeth-warren\">Elizabeth Warren<\/a> (D-MA) \u2014 called for Congress to pass their preferred legislation in the interest of slashing prices.<\/p>\n<p>Klobuchar \u2014 pointing toward a Thursday tweet from President Joe Biden that blames high prices on \u201ca handful of companies who control the market\u201d for shipping \u2014 referred to her <a href=\"https:\/\/www.klobuchar.senate.gov\/public\/index.cfm\/2022\/3\/klobuchar-thune-bipartisan-legislation-to-help-fix-supply-chain-and-ease-shipping-backlogs-passes-senate\">Ocean Shipping Reform Act<\/a> as a mechanism to prevent the firms from \u201cjacking up prices.\u201d<\/p>\n<p dir=\"ltr\" lang=\"en\">My bipartisan bill with Sen. Thune will help crack down on these multinational shipping conglomerates that are jacking up prices and finally help American businesses get a fair shot. Thanks for the support, President Biden, and to Rep. Garamendi and Rep. Johnson in the House! <a href=\"https:\/\/t.co\/P8E6ftbJt8\">https:\/\/t.co\/P8E6ftbJt8<\/a><\/p>\n<p>\u2014 Amy Klobuchar (@amyklobuchar) <a href=\"https:\/\/twitter.com\/amyklobuchar\/status\/1535279636241866752?ref_src=twsrc%5Etfw\">June 10, 2022<\/a><\/p>\n<p>If signed into law, the bill would render it harder \u201cfor ocean carriers to unreasonably refuse goods ready to export at ports,\u201d according to Klobuchar\u2019s office. The legislation advanced through the Senate unanimously.<\/p>\n<p>Meanwhile, Warren lauded Klobuchar\u2019s <a href=\"https:\/\/www.klobuchar.senate.gov\/public\/index.cfm\/2021\/10\/klobuchar-grassley-colleagues-to-introduce-bipartisan-legislation-to-rein-in-big-tech\">American Innovation and Choice Online Act<\/a> \u2014 which, according to Warren, would \u201cpromote competition and lower consumer prices\u201d by banning technology firms from \u201cfavoring their own products.\u201d<\/p>\n<p dir=\"ltr\" lang=\"en\">Big Tech companies and their army of lobbyists are trying to stop bipartisan bills to promote competition and lower consumer prices\u2014including <a href=\"https:\/\/twitter.com\/SenAmyKlobuchar?ref_src=twsrc%5Etfw\">@SenAmyKlobuchar<\/a>\u2018s bill prohibiting tech platforms from favoring their own products. We need to pass these bills.<a href=\"https:\/\/t.co\/1oP0gSHkjP\">https:\/\/t.co\/1oP0gSHkjP<\/a><\/p>\n<p>\u2014 Elizabeth Warren (@SenWarren) <a href=\"https:\/\/twitter.com\/SenWarren\/status\/1535264825743482880?ref_src=twsrc%5Etfw\">June 10, 2022<\/a><\/p>\n<p>\u201cThe nation\u2019s largest tech companies, such as Amazon, Apple, Facebook, and Google, have faced accusations of prioritizing their own products on their platforms, using their market power to edge out competitors, and limiting consumers\u2019 choice,\u201d Sen. Cory Booker (D-NJ) said of the legislation last year, according to Klobuchar\u2019s office.<\/p>\n<p>Before it began to climb, inflation was 1.4% in January 2021, <a href=\"https:\/\/www.bls.gov\/charts\/consumer-price-index\/consumer-price-index-by-category-line-chart.htm\">according<\/a> to Bureau of Labor Statistics data. Over the past year and a half, Democrats have repeatedly emphasized the alleged role of corporations in raising prices.<\/p>\n<p>Ahead of Thanksgiving, for example, Warren <a href=\"https:\/\/www.dailywire.com\/news\/dismissing-inflation-concerns-warren-asks-the-doj-to-probe-poultry-companies-for-corporate-greed-in-raising-turkey-prices\">blamed<\/a> meat and poultry producers of \u201cprice fixing,\u201d \u201cexcessive consolidation,\u201d and \u201cplain-old corporate greed\u201d as turkey prices rose \u2014 and called for the Department of Justice to take action.<\/p>\n<p>\u201cLack of competition in the poultry industry is allowing these massive companies to squeeze both American consumers and farmers to fuel record corporate profits and payouts to shareholders,\u201d she argued. \u201cWhen companies have monopoly power as massive suppliers, they can jack up prices of the goods they sell.\u201d<\/p>\n<p>Warren, however, rejected the possibility that firms\u2019 price increases are related to \u201cinflationary costs\u201d \u2014 even as reports <a href=\"https:\/\/www.dailywire.com\/news\/thanksgiving-just-got-more-expensive\">indicated<\/a> that the high price of corn feed was causing a modest decline in turkey production.<\/p>\n<p>More recently, New York Attorney General Letitia James, another Democrat, <a href=\"https:\/\/www.dailywire.com\/news\/new-yorks-democratic-ag-goes-after-price-gouging-amid-formula-shortage\">called<\/a> on baby formula retailers to \u201cstop overcharging\u201d for the scarce product.<\/p>\n<p>\u201cIt\u2019s unconscionable that some retailers are taking advantage of the national baby formula shortage while parents are struggling to find food for their children,\u201d she said. \u201cAmid this crisis, families already have enough to worry about and should not have to worry about being price gouged. We are warning all retailers that New York will not tolerate price gouging of baby formula, and I encourage anyone who sees this to continue reporting it to my office.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amid news of inflation reaching another record high, Democrats are circling their wagons around legislation meant to crack down on corporations purportedly engaged in price-gouging. The Consumer Price Index (CPI) rose 8.6% between May 2021 and May 2022 \u2014 meaning that inflation reached its highest levels in four decades, a Friday morning report from the &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1510587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1510535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1510535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1510535"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1510535\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1510587"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1510535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1510535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1510535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}