Senator Marsha Blackburn gave remarks on the Senate Floor regarding President Biden's mishandling of the economy and the increased effects that inflation is having on the American People.

To watch Senator Blackburn’s speech, click below or here.

You can read the transcript below or in the Congressional Record.

Madam President, yesterday, in a hearing before the Senate Banking Committee, the Federal Reserve Chairman Jerome Powell finally confirmed what we have all known for a long time; that the threat of persistently higher inflation has grown and that the risk of more persistent inflation has risen.

He acknowledged to the committee that use of the word ``transitory'' in the media has caused confusion and that it is probably a good time to retire that word and try to explain more clearly what is actually happening with the economy.

Now, that is bad news for the spin doctors over in the Biden administration who have spent months trying to convince Tennesseans and the American people that we will be out of the woods any day now, that this is all coming to a fast end. It is back to the drawing board for the White House comms shop.

They cannot split hairs over vocabulary words pertaining to inflation.

The inflation that we are seeing is real; it is felt; and the consequences of ignoring this are very real.

Of course, Tennesseans could have told Washington, DC, this long ago. Out in the real world, they have been dealing with the cost of inflation. Contrary to what the White House would have you believe, inflation isn't just a problem for the rich, and it certainly won't fade into the background after the holidays.

I have spoken at length about how inflation has affected Tennessee families and their budgets. Just a few weeks ago, I used the price hike on your average Thanksgiving dinner as an example of how a dollar here and a dollar there can add up to a massive grocery bill that we wouldn't have thought possible even a year ago.

But when I tell you that Tennesseans are worried about inflation, I don't want you to think they are only worried about the little extras. It is a helpful visualization, but it is a serious issue. This isn't about the price of turkey. This is about an out-of-control administration pursuing an agenda that has forced families to choose between food and fuel.
This is beyond out of touch. It is intentional, reckless activism that started the very moment that President Biden walked into the Oval Office, sat down at the desk, pulled out a pen, and started to sign Executive orders, beginning with killing the Keystone Pipeline.

If we forgot everything we know about the modern Democratic Party, it would be easy to write off the administration's pursuit of big spending packages as politics as usual, but we know and have known for a long time, actually, that the Democrats in power view the next few years as an opportunity to tear down what we have and rebuild this country in their own socialist image. That is right. Radically transforming the country, that has been their goal for more than a decade.

Now, this is not just bad economic policy; it is a full-blown power grab. How else could you possibly explain the administration's commitment to the idea that we can spend our way out of this current crisis in spite of the mountains of evidence there to the contrary?
How else can you explain their decision to respond to collapsing supply chains with a vaccine mandate that we knew was going to make these bottlenecks worse?

It only makes sense if you abandon the assumption of good faith, and that is truly a disheartening revelation.
The American people are vulnerable, and they are angrier than I have ever seen them become. They are angry because this administration's motivation for pursuing these reckless policies is coming into focus.

As a Tennessean told me yesterday, ``I supported President Biden. I thought he was going to be a moderate, and I feel like he became something else immediately.''

The people know with absolute certainty that their President and his allies in Congress are taking advantage to force us down a path that the people have consistently rejected.

This is not what they want. They feel like they have lost control of the country, and they have no faith that the leaders of the Democratic Party here in Washington, DC, have their best interests at heart.

The American people deserve better than this. This is not what they voted for. This is not what they wanted to see.

The White House and congressional Democrats must abandon this disastrous Build Back Broke agenda before the possibility of true recovery slips away from us and before the American people lose all faith in those who asked for and then squandered the privilege of leading this country.