Biden should be worried about his reelection chances. Recent polling shows him behind Donald Trump. This is true, especially in swing states, where Biden must win if he wants to remain in the White House.
But voters just don’t see all that eager to keep Biden around. Even tried-and-true Democrat voting blocs are breaking from Biden. Young voters and minority voters are turning on the Democrat.
Now, a frustratingly relentless problem is returning to bite Joe on the butt. He has dismissed this crisis time and again. But it keeps coming back, bringing pain to working Americans. What is Biden going to do to fix it?
From Daily Caller:
Inflation ticked down slightly year-over-year in April as rising prices continue to take a toll on average Americans’ finances, according to the latest Bureau of Labor Statistics (BLS) release on Wednesday…Biden has sought in recent months to blame inflation on companies marking up prices at a time of economic fluctuation in a show of corporate greed. Recent research released by the Federal Reserve Bank of San Francisco disproved this explanation by showing that corporate markups in the recent inflation spike are no different than at other times of economic recovery.
August came early to DC today: it's hot and sticky inflation in producer prices w/ PPI up 0.5% M/M for Apr and 2.2% Y/Y – that's the fastest annual increase since Apr '23…
…inflation is NOT dead; it's getting worse: pic.twitter.com/QXsIjmWfNO— E.J. Antoni, Ph.D. (@RealEJAntoni) May 14, 2024
Huh, so that’s what Biden is going to do: blame inflation on corporations. Signs point to inflation lingering, even after the White House claims it has gone away. Inflation remains above 3%, increasing the cost of goods from year to year.
Although it is much lower than the peak of June 2022, prices continue to rise at a strong pace. That is putting pressure on working families, as inflation results in a pay decrease for many. Americans are struggling to put food on the table as Biden ships away billions of our dollars to overseas wars.
Biden has claimed prices are high because “greedy” companies are marking up the costs of goods. Yet the data shows that is not true. Prices are high because the cost of producing everything remains high. Biden contributed to the devaluing of the U.S. dollar. And his anti-energy policies continue to drive up the costs of transporting goods.
Just to name a few reasons inflation is so bad. Despite Biden’s denial, the pain of this economy continues to hurt Americans. And it is catching up with many businesses.
From The Post Millennial:
Across the United States on Monday, thousands of Red Lobster employees got ready to go to work, only to discover that the restaurant chain had shuttered their location. Recent polls have indicated that the economy is the top issue for US voters.
Main restaurant chain Red Lobster suddenly closed 50 of its restaurants. Workers showed up on Monday to learn the bad news. Do large companies suddenly close restaurants when the economy is “strong as hell” as Biden’s claimed? Doesn’t sound like they would.
Key Takeaways:
- Inflation continues to remain high, hurting companies and working families.
- Biden has blamed high prices on corporate greed, but data disproves that.
- Companies continue to close their doors, putting thousands out of work.
Source: Daily Caller, The Post Millennial
