Pennsylvania Senator Bob Casey addressed the issue of "greedflation" during his speech at the Democratic National Convention (DNC) on Thursday night. Casey, who is seeking a fourth term in the Senate this November against Republican Dave McCormick, used the term to describe the practice of major conglomerates significantly increasing prices beyond their cost increases.
"Americans don't expect stuff to be free, but we do expect it to be fair. The people I'm talking to, from Allentown to Erie, they don't tolerate being ripped off. Americans are hardworking, honest people and that's what we're fighting for. We're fighting for honesty," Casey said during his speech.
Casey, along with other Democrats, is fighting these price spikes with measures such as a $35-per-month cap on insulin. They are also advocating for higher fines on companies that take advantage of a crisis and fighting against price gouging on food products.
McCormick responded to Casey's speech in a written statement, arguing that policies backed by Casey and the Biden administration are what's actually "driving higher prices."
The race between Casey and McCormick is being closely watched as it could prove pivotal in determining which party controls the Senate in January.