FIRST ON FOX: Florida governor and 2024 presidential candidate Ron DeSantis released an ad Wednesday slamming President Biden and former President Trump for "spending this country into oblivion," as inflation ticked up to 3.7% in August.
"Both parties have done it," DeSantis says in the new ad being released on Wednesday. "Both parties have been involved. And actually, Republicans are very tough when they're out of power. But when they get in power, you know, they basically go on a spending binge too. And I think you've seen it over the last five or six years."
The ad shows footage of both Trump and Biden with DeSantis explaining that "they borrowed and they printed and they spent trillions and trillions of dollars since March of 2020 under the auspices of COVID."
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The Republican presidential candidate also points to his record as Florida’s governor in the ad.
"I can tell you in Florida, we run budget surpluses, we have the second lowest per capita debt ratio in the entire country," DeSantis says. "We’ve paid down debt, I’ve vetoed billions and billions of dollars of excessive spending. As president, you’ve got to be willing to lean in and use the veto pen to be able to battle against this excessive spending."
The Trump and Biden campaigns did not immediately respond to a request for comment from Fox News Digital.
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The ad comes on the same day that government data showed inflation accelerated for a second straight month in August, reversing previous declines as consumers continued to grapple with the rising cost of everyday goods.
The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.6% in August from the previous month, in line with estimates. It marked the steepest monthly increase this year, underscoring the challenge in taming high inflation.
Prices climbed 3.7% from the same time last year, faster than both the 3.2% reading in July and the 3.6% estimate from Refinitiv economists.
Fox News Digital’s Megan Henney contributed to this report
