(Arlington, Va. – Oct. 29, 2026) Following today’s release of the September Personal Consumption Expenditures (PCE) price index, which showed inflation at 3.6 percent, Dr. Carolyn Bourdeaux, executive director of Concord Action and the Concord Coalition, issued the following statement:
“Inflation is sending America two bills. Families pay the first every time they buy groceries, fill the tank or pay the rent. Taxpayers increasingly pay the second through the rising cost of servicing the national debt.
“Persistent inflation can keep interest rates higher for longer. For a country carrying more than $40 trillion in debt, that means more of the federal budget goes toward paying for yesterday’s borrowing instead of tomorrow’s priorities.
“This crisis is no longer something Congress can ignore, yet candidates in both parties are currently on the campaign trail making promises they can’t possibly keep when they get back to Washington.
“Interest costs cannot keep consuming a larger share of the budget without squeezing out other priorities. Washington needs to act before that squeeze gets worse.”
EDITORS NOTE: The PCE price index is the Federal Reserve’s preferred measure of inflation. Rising net interest costs remain a major driver of federal spending as annual deficits hover near $2 trillion.
Continue Reading
