March 28, 2023

Arrington on Stagnant Consumer Confidence

WASHINGTON – House Budget Committee Chairman Jodey Arrington (R-TX) issued the following statement on the monthly consumer confidence report, which showed only a slight increase in the Consumer Confidence Index and a decline in both present and future expectations for the economy.

“Consumer confidence remains almost 30 points below its pre-pandemic peak as the economy continues to shrink and inflation remains high.  Biden’s recent budget is a consumer confidence killer by doubling down on his reckless spending and failed economic policies. Consumer confidence will only return when we rein-in wasteful Washington spending, remove tax and regulatory barriers to growing the economy, and restore the value and dignity of work.”

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