I keep talking about how Joe Biden seems never to be able to find a low when it comes to approval. His approval in some polls has dipped below 40 percent, but on Wednesday, he even went lower when his average number of all the polls collected by Real Clear Politics went below 40 percent.
But expect it to go lower yet again with the new inflation report. Just as Biden’s approval can’t stop cratering, inflation under Biden keeps soaring. It’s now hit yet another high, even more than expected. Joe Biden just keeps hitting new records.
Inflation has now hit the highest rate in 40 years, jumping 7.5 percent since last February, the biggest year-over-year increase since February 1982, more than experts had expected. Among the reasons that the AP blamed were “shortages of supplies and workers” as well as “heavy doses of federal aid.” Paging Joe Biden, his mandates, and his spending, although, of course, they don’t say that. Unfortunately, they’re not expecting it to slow anytime soon.
While the AP doesn’t tag Biden, they do acknowledge that Americans will.
The steady surge in prices has left many Americans less able to afford food, gas, rent, child care and other necessities. More broadly, inflation has emerged as the biggest risk factor for the economy and as a serious threat to President Joe Biden and congressional Democrats as midterm elections loom later this year.
Supply shortages are expected to continue, interests rates are going to be jacked up by the Fed, probably in March, and prices on everything are going to continue to go up.
61 percent of small businesses are raising their prices.
“More small business owners started the new year raising prices in an attempt to pass on higher inventory, supplies, and labor costs,” said Bill Dunkelberg, the NFIB’s chief economist. “In addition to inflation issues, owners are also raising compensation at record-high rates to attract qualified employees to their open positions.”
Those actions are likely to kick up the prices even more.
In December, economists at the University of Pennsylvania’s Wharton School estimated that the average household had to spend $3,500 more than in 2020 to buy an identical basket of goods and services.
What has Joe Biden’s response been to these records and crushing prices? He pushes even more spending, and he revealed he has no idea what he’s doing, blaming it on the cost of vehicles.
POTUS: “One of the reasons for inflation being high as it is, one-third of the reason that inflation is up is the cost of vehicles.” pic.twitter.com/Wq5yJueO2y
— Breaking911 (@Breaking911) January 26, 2022
He was even bragging about the economy with a rigged chart.
But if he’s trying to take credit for the economy, this is what it is — this is what the American people are having to deal with now. If he can’t address it, if he can’t even understand it and just keeps funneling out propaganda while it keeps hitting Americans so deeply in the wallet, they can jack all the redistricting maps they like and the American people are still going to destroy them so hard in the midterms that will hit another record.