WASHINGTON, DC, May 16 – The likelihood the Supreme Court will soon overturn the controversial Roe vs. Wade abortion rights decision the Court handed down 50 years ago has triggered a nationwide brou-ha-ha. But, as an issue of importance to voters, it takes a back seat to President Biden’s inflationary spiral, based on a new Rasmussen survey. The poll shows that a whopping 87% of respondents are more concerned about inflation, violent crime [83%], and illegal immigration [69%] than about abortion rights [63%].
The Rasmussen report notes that “A majority of voters are concerned about rising energy costs and favor increased drilling for oil and gas, although most Democratic voters consider reducing climate change a higher priority [and that] most voters rate President Joe Biden poor for his handling of the economy and say inflation will be a very important issue this fall in the midterm elections.”
As Congressman Kevin Brady [R-TX], former Chairman of the House Ways and Means Committee, explains it: “Because both the White House and the Fed were in denial and dismissed [inflation] for all of last year, now the likelihood of a recession that’s needed to break that inflation cycle is much higher. That delay has hurt the country in a big way. It’s going to be tough. Every wage-price spiral like we’re in today ends in a recession. It’s very painful. Which is why all of last year we were so frustrated and [tried to tell him] look, you’ve got to deal with these issues, Mr. President. I think it’s very likely it ends up in a recession.”
The current inflation rate is about 8.26%, and prices continue to increase. The average price of gasoline nationwide, for example, is approaching $4.50 per gallon, although in some states, it is as high as $6.00+ and climbing. Meanwhile, groceries and other household needs are increasing at double-digit rates.
Remember when inflation showed its ugly head last year, President Biden told us it was temporary. It was in July 2021 that he shrugged it off and said, “We also know that as our economy has come roaring back, we’ve seen some price increases. Some folks have raised worries that this could be a sign of persistent inflation. But that’s not our view. Our experts believe and the data shows that most of the price increases we’ve seen are — were expected and expected to be temporary.”
We are in the fifth month in a row that wholesale prices have increased by 10% or more, and Congressman Brady notes that “When Main Street businesses get hit with double-digit increases in prices, consumers are the ones who ultimately pay.” And he warns us to be prepared to pay even higher prices going forward.
The president seems to be at a loss. He appeared to “lose it,” as they say, over the weekend when he posted a non-sequitur of a tweet on Twitter. Mr. Biden’s message reads: “You want to bring down inflation? Let’s make sure the wealthiest corporations pay their fair share.” The remark makes it appear that while the president may know how to spell “inflation,” he doesn’t know what it means. It must have looked that way to Jeff Bezos, the founder of Amazon, who quickly responded with a reply, to wit, “The newly created Disinformation Board should review this tweet, or maybe they need to form a new Non Sequitur Board instead. Raising corp[orate] taxes is fine to discuss. Taming inflation is critical to discuss. Mushing them together is just misdirection.”
To paraphrase Bette Davis, fasten your seatbelts, it’s going to be a bumpy ride.