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IN CASE YOU MISSED IT: NEWSMAX: CFO Patronis: Under Biden, Inflation Is Too Damn High

2/24/2022

For Immediate Release: Thursday, February 24, 2022
Contact: Office of Communications, Communications@MyFloridaCFO.com, 850.413.2842
IN CASE YOU MISSED IT:
NEWSMAX: CFO Patronis: Under Biden, Inflation Is Too Damn High

 
"Under Biden, Inflation Is Too Damn High"
Jimmy Patronis, Florida Chief Financial Officer
NEWSMAX
Wednesday, February 23, 2022
Full Op-Ed HERE
 
I don’t know when memes first entered American political culture, but it had to be somewhere around 2010. That’s when at a New York State gubernatorial debate, then candidate for Governor Jimmy McMillan said something both profound and accurate: "The rent is too damn high!"
 
He was right. In fact, his passion was so strong, he articulated the feelings of New Yorkers so perfectly, that now disgraced Gov. Andrew Cuomo was forced to agree when he said, "I’m with Jimmy — the rent is too damn high."
 
As we’re midway through the first quarter of 2022, Jimmy McMillan’s sentiments still ring true, but with a catch: it’s not just the rent that’s too damn high; everything is too damn high because of inflation.
 
Over the past 12 months, the consumer price index on all items increased 7.5%. Energy alone increased 27%, which affects everyone. Also, foods — both processed and non-processed — were up 25%. While wages across the country may be up, when factoring inflation, average hourly earnings decreased by 1.7%.
 

 
When gas prices are up 40% that may be a rounding error to people like Jeff Bezos, or anyone with the last name "Biden" who lives in Delaware, but for Floridians who live in towns and cities like Eustis or Dunedin it hurts.
 

 
Inflation also impacts the nearly 6 million Floridians, over age 60, who live on a fixed income. They saved up to live on a certain budget, and now their money just isn’t going as far. They’re having serious conversations about the things they need to cut to pay the bills.
 

 
While the rich may feel some of the effects, it really is the poor and middle class that take the brunt of the punch. Rather than leaning into the facts and dealing with it, the Biden administration has put more of their energy into explaining it away.
 
White House press secretary Jen Psaki has pointed to COVID-19, supply chain issues; she said "Build Back Better" would solve it all. She said we’re "neck and neck" with Europe, she said Republicans are holding up appointees — and on and on.
 
What Psaki and Biden have not done is roll out any credible plan to deal with it. They’re worried about the news cycle; they’re worried about optics.
 

 
Unlike the White House, Gov. Ron DeSantis, R-Fla., thinks inflation is a problem and is trying to do something about it. His budget has proposed a $1 billion cut in gas taxes. That’s direct tax relief to the consumer.
 
According to our own analysis, the governor’s proposed tax cut would provide around $200 in relief to the average Florida household.
 

 
Inflation is too damn high, and Americans need to know who’s trying to do something about it versus those who are just giving them lip service, so that when the next election cycle comes around they can do something about it.
 
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About CFO Jimmy Patronis 
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida’s Cabinet who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).