Inflation jumped 7.5 percent last month compared to last January in a new almost 40-year high. This increase in the consumer price index marks the fastest year-over-year rise since 1982.
Despite promises from President Joe Biden and economic “experts” that inflation would be short-lived, it is steadily increasing (much like border apprehension numbers). In November, inflation reached the highest it had been for that month in 40 years. Similar to January, December 2021 inflation surged 7 percent to the highest year-over-year level since 1982.
These new inflation highs are problematic not only for Americans who have suffered economic instability and rising prices due to government-forced interruptions for nearly two years now but also for an already unpopular Biden and vulnerable Democrats.
As the 2022 midterms approach, Americans are seeking change. A recent CBS poll found that at least 40 percent of Americans said they were “nervous” about the future of the country. Approximately two-thirds of American voters believe the country is on the wrong track.
Even 48 percent of independent voters, whom Biden and Democrats desperately need to maintain a majority in the House and Senate, indicated they would prefer a Republican-controlled Congress over a Democrat one, with only 39 percent saying they would prefer Democrats in control.
Americans think and vote in part with their pocketbooks. Still struggling with rising gas prices, bare shelves, and an ongoing supply-chain crisis, voters agree that economic conditions rank high on their list of concerns.
Instead of offering sympathy and action for these voters’ worries, the Biden administration has repeatedly dismissed inflation as a key problem. This hasn’t sat well with a majority of Americans, who are unhappy with how Biden is using his time in the White House.
Democrats have a razor-thin majority in both the House and the Senate. Because of this, their margin for error is small. If Biden and his allies continue to dismiss voters’ concerns about inflation despite the consumer price index continuing to skyrocket, they can and should expect voters outraged about their increasing bills to vote against them in November.