The rapid shift in the United States economy is palpable. Americans are experiencing the rising inflation rate since Biden assumed office, which has caused the prices of common goods and services to skyrocket. In less than 150 days (120 according to Biden) the current administration has re-established intrusive regulations, increased spending by the trillions, and has waged war against business owners and wealthy Americans. The people have taken notice, and are pointing their finger accordingly.
According to a recent poll, a plurality of American people hold Joe Biden more responsible for the rising rate of inflation than Former President Donald Trump.
The Trafalgar Group asked a group of likely voters in the next general election:
“Who do you hold most responsible for rising inflation?”
39% pointed the finger at Joe Biden, while just 17.7% blamed Trump.
Our @trafalgar_group @COSProject #poll released on #SpicerAndCo @newsmax show tonight, reveals that most Americans blame #PresidentBiden and #Congress for rising inflation. See report: https://t.co/3fGzRTkMND pic.twitter.com/OMBPCJjHli
— Robert C. Cahaly (@RobertCahaly) June 15, 2021
An additional 14.4% holds Congress responsible and 17.9% were unsure.
The poll also discovered Democrats consider Biden more responsible for the crumbling economy, a breakthrough that will surely panic the Democrat Party. Liberal voters passed the blame on Biden for high inflation at a 5.8% rate higher than Trump. Similarly but more fervently, Republicans consider Biden responsible for the failing economy by a greater margin of 52.7% percent.
The ever-rising inflation rate disproportionately affects the poorest Americans by decreasing the value of the few dollars they do possess. Their purchasing power becomes incredibly stifled once inflation hits a certain rate, which Biden has managed to do in such a short amount of time. The Consumer Price Index increased by a 5% in May from just last year, the fastest rise since our last financial crisis which Biden oversaw.
The index is used to measure a basket of consumer goods and services purchased by households and is correlated with inflation.
Some economic analysts predict inflation could ramp up longer than expected because of a combination of Biden’s disastrous decisions, including: massive increase in government spending, keeping interest rates low, and an increasingly high budget deficit. Other factors like pent up consumer demand for goods and services and excessive savings bolstered by stimulus payments also contribute to the rise of inflation.
The Trafalgar Group poll was conducted June 6 – 7 with 1073 respondents of likely general election voters with 95 percent confidence.
Author: Sebastian Hayworth