A Fox News poll released last week shows inflation remains the top motivating issue for voters, with 89 percent of respondents “extremely” or “very” worried about rising prices. Only 29 percent of registered voters approve of President Biden’s handling of inflation compared to 65 percent who disapprove.
Voters know where the buck stops.
Inflation was 1.4% annually when Biden became president. Then in early 2021, Democrats voted along party lines to pass a $2 trillion spending blowout. All paid for by more debt. Inflation is now running at 8.3 percent over the last year. The Federal Reserve attributes 2.5 percent inflation to the “fiscal stimulus” alone.
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Over the past year, consumers are now paying 25.6% more for gasoline, 17% more for milk, and 40% more for eggs. Even if prices stopped increasing altogether, the average American household will spend over $8,600 more this year due to inflation.
A staggering 78% of registered voters report inflation has caused financial hardship in their own lives. These are numbers that should send Democrats running for the hills.
Instead, the White House decided to host a celebration.
In hopes of marking the official end of America’s inflation crisis, Biden hosted an event on the White House lawn to celebrate the misnamed “Inflation Reduction Act” purposely timed to coincide with the release of the August inflation report.
James Taylor played guitar. Didn’t help.
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Instead, the government’s own statistics showed that prices increased in the last month from July to August. Joe Biden sat smiling listening to “Fire and Rain” performed as the Dow Jones Industrial Average fell more than 1,200 points, the worst day for the market since June 2020.
The Republican attack ads write themselves. The spectacle of Biden celebrating his spending bill with celebrities as the economy burns around him perfectly captures the flippant attitude Democrats have displayed towards inflation.
Every single Democrat in Congress voted for a bill that adds to the deficit through 2026 while hiking taxes by nearly $700 billion. They then had the gall to insult voters’ intelligence by calling it the “Inflation Reduction Act.”
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Biden followed by spending up to $1 trillion “canceling” student loan debt for 17 percent of the population to be paid for later by the rest of us. More spending. More debt. Higher prices. More inflation.
Unlike other issues, Americans are reminded of the cost and policy failure of Inflation every single day. There are billboards at every gas station in every state and town in America shouting the higher price per gallon. Every trip to the grocery store is a sore reminder that inflation was not transitory. Or over. Or reduced.
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Americans are not reminded every day about the Americans who died in the botched exit from Kabul, Afghanistan. Or Hunter Biden’s lobbying profits. Rising rates of crime are daily insults in many Democrat-led cities, but not a personal threat to many in rural or suburban America. Inflation reintroduces itself to every voter every day.
The average paycheck increased by 5.3% over the last 12 months. Inflation jumped 8.5% over the same period. The average family has less take-home pay in real dollars. Americans are getting poorer with each paycheck that first must be reduced by Biden’s taxes and again by inflation.
Biden promised to never raise taxes on anyone earning less than $400,000. He violated the pledge with the “Inflation Reduction Act” which raised taxes on coal, oil, natural gas and the life savings in the stock market held by 58% of Americans. Inflation has the effect of being a tax on your paycheck. Not a tax on billionaires as Biden promised again and again. But on everyone. We are reminded of this every payday.
Jimmy Carter taught us that we can experience inflation and recession at the same time. Government’s idea of multitasking.
Inflation is front and center in this election. One party loudly boasted of every spending bill they passed that created inflation. They have no legislation to reduce inflation.
Biden and company now own the inflation they created. It has been expensive for all Americans and soon for those politicians who voted to create it.
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