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NY-18 Candidate Colin Schmitt Statement On Inflation Spike

NEW WINDSOR, NY — New York State Assemblyman and candidate for New York’s 18th Congressional District, Colin Schmitt (R-New Windsor), issued the following statement about the continued rise in inflation and the Federal Reserve’s anticipated plan to further raise interest rates and worsen the recession. Inflation rose 8.2% in September from last year, increasing by .4% since last month, double what economists expected. After a short bump, real average hourly earnings have fallen again, down .1% month over month in September and 3% from last year.

Year-over-year (September 2021 - September 2022):

Food —> +13%

Rent —> +7.2%

Transportation —> +14.6%

Services —> +7.4% (largest hike since 1982)

Healthcare —> +28% (largest hike ever recorded)

Assemblyman Colin J. Schmitt stated, “Joe Biden and House Democrats have forced our country into a downward spiral. ‘We are in trouble', is a consistent theme of what I am hearing on the ground every single day from my neighbors and our community members. They are not wrong. When Biden and his allies in Congress passed the ‘Inflation Reduction Act’ we were promised positive change, instead, it has ramped up our economic crises and set us on a path of economic devastation. The effects on our Hudson Valley families remain unprecedented.”

Schmitt concluded, “Real wages continue to be erased by the failed economic agenda of the Biden Administration and his allies like Pat Ryan. They do nothing to course correct, doubling down on the Inflation Enhancement Act which has exacerbated our financial crisis. Wasteful government spending and running a campaign of distraction alone will not fix the devastating economic peril we are in, we must commit ourselves to tackle inflation and its root cause — an out-of-touch Democrat Party, Joe Biden, and politicians like Pat Ryan. I remain committed to ensuring our Hudson Valley values are represented in Congress, where we must solve this economic crisis.”

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