Biden and Democrats Scramble to Distract Americans from Economic Woes
Democrat hopes that Joe Biden’s presidency couldn’t get any worse, have disintegrated over the past few weeks.
Numerous difficulties – from COVID mandate fatigue, to the Ukrainian crisis, to spying scandals, to overreaching teacher-union power-trips – have left the White House in shambles.
Democrats desperately hoped to distract Americans from the tanking economy.
Unfortunately for the Democrats, distraction isn’t happening right now.
Inflation rose more than 7.5% in January, the highest in 40 years, since 1982.
And, as usual with this administration, the sudden increase was completely unexpected.
Joe Biden, who seems continually confused, appeared even more so upon hearing the new numbers, and his White House spin-doctors were at a loss to explain away the bad news.
Inflation increased as governmental COVID measures led to supply-chain snarls, which left strong consumer demand unmet.
Additionally, prices spiked on available items due to nationwide efforts to pass higher and higher mandatory minimum wage increases.
Higher wages fueled higher prices, which wiped out any wage-increase-benefits for most Americans, especially those who were to benefit most from minimum wage increases. Oh, the irony.
The real problem is, despite Biden’s claims to the contrary, it is not just increases in gas and food prices that must be “brought down” by his efforts.
In fact, so-called core prices, which exclude the more volatile food and energy sectors, climbed a whopping 6% in January, a sharp increase from December, when it rose 5.5%.
These core prices saw the highest 12-month increase since August 1982.
Most rational economists and political observers see more financial woes in our futures. In fact, we may be just beginning Bidenflation.
Seema Shah, chief strategist at Principal Global Investors told Fox News, “U.S. annual CPI is the highest since 1982, and what’s worse is that this likely isn’t the peak. Higher-than-expected monthly gains in core CPI indicate continued underlying heat and will do nothing to relieve pressure on the Fed to tighten sharply and urgently.”
Not surprisingly, stocks have plummeted during the most recent inflation reports – with tech stocks leading the dive.
Prices have increased across the board. Although the rise has slowed, prices still tower over what they were between 2016 and 2021.
For example, energy prices rose just 0.9% in January, but are still up 27% from last year. Gasoline, on average, costs 40% more than it did last year.
Food prices have climbed 7% over the last year, while used car and truck prices – a major component of the inflation increase – have skyrocketed to 40.5% in just one year.
Inflation spikes have affected President Biden and the Democrats.
As consumer prices rose, Biden’s approval rating crashed to under 40%.
While the White House blamed high, sudden price-hikes on supply chain bottlenecks and other COVID-induced disruptions to the economy, Republicans blamed Biden’s massive spending agenda and his failed energy policies that targeted oil and gas industries.
Clearly the American people blame Joe Biden and his socialist policies and lockdowns.
Therefore, here’s the real question: Will Americans still blame Biden and the Democrats come November?