Metro East Sun

Madison County Treasurer Chris Slusser said that under the Biden-Harris administration, inflation on essentials such as food, gas, and housing has put a strain on families. Slusser, who is affiliated with the Madison County Republicans, shared his views with Metro East Sun on October 17.

"Since Biden and Harris took office, the prices of everyday essentials such as food, gas, and housing have risen sharply, far exceeding the inflation levels seen under Trump," said Slusser. "Families are having a harder time managing their budgets and securing basic necessities. Trump's administration had better control over inflation, which helped citizens avoid the constant stress of increasing prices. Americans should enjoy a thriving economy that supports a good life, not one filled with never-ending cost hikes."

According to NBC News, the 12-month Consumer Price Index rose by 2.4% in September, slightly exceeding expectations but down from August's 2.5%. On a monthly basis, it increased by 0.2%, with food and shelter being primary contributors to price growth. Grocery prices saw an increase of 1.3%, particularly in meat and eggs, while dining out costs rose by 3.9%. Housing expenses increased by 4.9% year-on-year. Core inflation, which excludes food and energy, rose by 0.3%. Although inflation is moderating, households are still adjusting to a cumulative rise of 21% since 2020. Following this report, stock markets eased and jobless claims increased slightly, raising expectations for a potential Federal Reserve rate cut. Inflation remains a significant concern for voters.

The Heritage Foundation reported that under President Biden's administration, inflation has risen by 20%, compared to an increase of 8% during former President Trump's tenure. Inflation surged from 1.4% when Biden took office to 9.1% within eighteen months, with mortgage rates doubling from 2.9% to 7%. The average deficit under Biden is $1.5 trillion compared to $750 billion under Trump (excluding COVID years). The foundation found higher success with Trump's disinflationary policies such as tax cuts, deregulation, and energy production in contrast to Biden's approach involving higher taxes, regulation, and spending on green energy programs.

Slusser was first elected as Treasurer of Madison County in 2015 and resides in Wood River. As treasurer, he has focused on reducing the tax burden for Madison County taxpayers and serves on the Executive Committee for the Madison County Republicans.