{"id":2330103,"date":"2024-08-23T15:02:02","date_gmt":"2024-08-23T19:02:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/casey-blames-scheming-corporations-for-rising-prices-washington-examiner\/"},"modified":"2024-08-23T15:04:31","modified_gmt":"2024-08-23T19:04:31","slug":"casey-blames-scheming-corporations-for-rising-prices-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/casey-blames-scheming-corporations-for-rising-prices-washington-examiner\/","title":{"rendered":"Casey blames \u2018scheming corporations\u2019 for rising prices &#8211; Washington Examiner"},"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%2Fcasey-blames-scheming-corporations-for-rising-prices-washington-examiner%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=2330103&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>In a recent speech during the Democratic National Convention in Chicago, Pennsylvania U.S. Senator Bob \u2062Casey\u200b Jr. criticized &#8220;scheming corporations&#8221; for the rising prices that are burdening consumers. He argued that corporate greed, rather than increases in production costs, is the primary reason for inflation impacting essential goods like food and\u2062 diapers, which\u2063 he noted have seen significant price hikes. This statement follows a troubling\u2064 report from\u2062 the Department of Labor indicating that \u2063<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-economy-sees-worst-month-for-employment-growth-since-april-2020-small-businesses-hardest-hit-report\/\" title=\"U.S. Economy Sees Worst Month For Employment Growth Since April 2020, Small Businesses Hardest Hit: Report\">job creation figures<\/a> were overestimated, raising concerns about the overall health of \u200cthe economy. The revised numbers have prompted questions regarding the Biden\u200d administration&#8217;s management of inflation and economic recovery. Additionally, a report from\u200d the Bureau of Economic Analysis \u200dhighlighted a decline in Americans&#8217; personal savings rate, further \u200bemphasizing the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/denver-has-spent-nearly-25m-sheltering-immigrants\/\" title=\"Denver has allocated almost M to provide shelter for immigrants.\">financial strain faced<\/a> by consumers.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Casey blames &lsquo;scheming corporations&rsquo; for rising prices<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1736790\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>(The Center Square) &ndash; The inflationary pressure squeezing taxpayers&rsquo; wallets comes from &ldquo;scheming corporations,&rdquo; according to Pennsylvania U.S. Sen. Bob Casey Jr.<\/p>\n<div class=\"article-paywall\">\n<p>During a five-minute speech on the final night of the Democratic National Convention in Chicago, the three-term senator told the crowd that rising prices on food and other necessities boils down to corporate greed.<\/p>\n<p>&ldquo;The corporations say your prices are up only because their costs are up,&rdquo; Casey said as he reflected upon the $15 price spike for diapers over the last six months. &ldquo;They are selling you a lie. It&rsquo;s in the bag with the diapers. Prices are up because these corporations are scheming to drive them up.&rdquo;<\/p>\n<p>The message comes just one day after the Department of Labor admitted overestimating job creation&nbsp;<strong><a href=\"https:\/\/www.thecentersquare.com\/national\/article_ea3a66fe-5fde-11ef-a53c-dbb6beb4dfb6.html\">by 818,000 through the year ending in March<\/a><\/strong>, setting off alarm bells about the health of the economy and the Federal Reserve&rsquo;s impending decision to lower or raise borrowing rates.<\/p>\n<p>Although revisions happen, the figure is one-third lower than the original estimate of 2.9 million jobs, raising eyebrows among critics who worry about Vice President Kamala Harris&rsquo;s ability to tackle the massive inflation spikes that have happened under the Biden administration&rsquo;s watch.<\/p>\n<p>A recent report from the Bureau of Economic Analysis&nbsp;<a href=\"https:\/\/www.thecentersquare.com\/national\/article_6fd156a4-5fd7-11ef-a6dc-fbf04b4465c5.html\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>found that Americans&rsquo; personal savings rate sank<\/strong><\/a>&nbsp;to 3.4% in June, down from nearly 20% in January 2021. Real disposable income per capita also shrank from 14% to 0.51%.<\/p>\n<p>Data published in the Federal Reserve Bank of New York&rsquo;s&nbsp;<strong><a href=\"https:\/\/www.newyorkfed.org\/microeconomics\/hhdc.html\" target=\"_blank\" rel=\"noreferrer noopener\">Quarterly Report<\/a><\/strong>&nbsp;showed that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-using-credit-card-rewards-to-offset-inflation\/\" title=\"Americans Using Credit Card Rewards to Offset Inflation\">credit card balances increased<\/a> to a record $1.14 trillion in the second quarter of 2024. Household debt also hit $17.8 trillion, while delinquency rates for credit cards, auto loans and mortgages also rose.<\/p>\n<p>Casey said Wednesday, however, that Harris and Democratic lawmakers will turn things around for taxpayers by supporting legislation to ban food price gouging and imposing harsher fines for corporations that cash in on crises like the COVID-19 pandemic.<\/p>\n<p>&ldquo;Most companies are good companies,&rdquo; he said. &ldquo;It&rsquo;s the food conglomerates that sit behind the supermarkets, the faceless wholesalers, they&rsquo;re the ones who are extorting families at the checkout counter. This is greedflation.&rdquo;<\/p>\n<p>Casey, who is seeking a fourth term in November against Republican challenger Dave McCormick, also credited Harris for backing a policy to lower the price of insulin to $35 per month in a victory over &ldquo;big pharma.&rdquo;<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1736790\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1736790\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Casey attributes rising prices to &#8220;scheming corporations&#8221; (The Center Square) \u2013 Pennsylvania U.S. Senator Bob Casey Jr. claims that the inflation affecting taxpayers is driven by &#8220;scheming corporations.&#8221; In a five-minute address on the last night of the Democratic National Convention in Chicago, the three-term senator explained that increasing costs for food and other essentials are a result of corporate greed. He pointed out a $15 increase in diaper prices over six months, stating, \u201cThese companies claim your prices are up solely due to their increased costs. They\u2019re deceiving you; it\u2019s all part of their strategy to inflate prices.\u201d This statement follows a recent acknowledgment from the Department of Labor that it had overestimated job creation by 818,000 for the year ending in March, raising concerns about economic stability and potential changes in Federal Reserve interest rates. Critics have expressed worries regarding Vice President Kamala Harris&#8217;s ability to manage significant inflation increases during Biden&#8217;s administration after revisions showed job growth was one-third lower than initially reported at 2.9 million jobs. A Bureau of Economic Analysis report indicated that Americans&#8217; personal savings rate dropped to 3.4% in June from nearly 20% in January 2021, while real disposable income per capita fell from 14% to just 0.51%. Additionally, data from the Federal Reserve Bank of New York revealed credit card debt reached an all-time high of $1.14 trillion in Q2 2024 and household debt climbed to $17.8 trillion with rising delinquency rates across various loans. Nevertheless, Casey asserted on Wednesday that Harris and Democratic lawmakers would improve conditions for taxpayers by advocating legislation against food price gouging and imposing stricter penalties on corporations profiting during crises like COVID-19: \u201cMost companies are good; it&#8217;s those large food conglomerates behind supermarkets\u2014the faceless wholesalers\u2014who exploit families at checkout counters.\u201d He also praised Harris for supporting a policy capping insulin prices at $35 per month as a win against &#8220;big pharma.<\/p>\n","protected":false},"author":1,"featured_media":2330104,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/Bob_Casey_AP_Photo.jpg.optimal.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[13443,6372,9168,39111,32076],"class_list":["post-2330103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-casey","tag-corporations","tag-economy","tag-rising-prices","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/06\/Bob_Casey_AP_Photo.jpg.optimal.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2330103","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2330103"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2330103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2330104"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2330103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2330103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2330103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}