Nashville Standard

WASHINGTON—United States Senator Bill Hagerty (R-TN), a member of the Senate Banking Committee, today in a hearing called out Banking Committee Democrats for holding a hearing on “shrinkflation” to echo Biden Administration talking points and deceive the American people about the actual source of high prices and record inflation: excessive spending on progressive policies.

Hagerty criticized the focus of the meeting, stating, “Mr. Chairman, I’m wondering why we’re having this meeting today... This is not what we should be considering, Mr. Chairman.”

Hagerty went on to highlight his views on the real cause of inflation in America, attributing it to policies implemented by the Biden Administration and Democrat legislation. He pointed out the impact of excessive spending and regulatory constraints on supply and demand, leading to a surge in prices. Hagerty emphasized the hardships faced by American families due to the soaring prices, noting that prices have gone up by 19 percent since President Joe Biden took office.

The Senator also criticized actions such as student loan forgiveness, describing them as blatant vote buying that further contributes to economic challenges faced by hardworking Americans.

In conclusion, Hagerty expressed his disappointment with the focus of the hearing and urged the committee to address more pressing issues affecting the economy and the American public.