March 28, 2023
Arrington on Stagnant Consumer ConfidenceWASHINGTON – 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.”