Politics

Joe Biden’s Economy: Gas, Food Prices Soaring, Supply Chain SNAFU’s, And Looming ‘Stagflation’

Former Bill Clinton ally James Carville said it best, “It’s the economy stupid!” Right now, it’s Joe Biden’s economy, and things are not looking good.

According to Fox Business, consumer prices rose at their fastest annual pace in 13 years. And as most Americans find out as they hit the gas pump, so have energy prices.

The consumer price index rose from September 2020 through last month by 5.4%, and prices for the month of September rose 0.4%. 

If those official numbers seem far smaller than what you’re encountering, that’s no surprise.

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Costing More For Americans To Live

The cost of daily life for Americans is on the rise in Joe Biden’s economy. The cost of filling up rose 1.3% in September, and is up a whopping 24.8% in the last year.

A trip to the grocery store will not make anyone feel any better about the economy.

Food prices have gone up 0.9% and are up 4.6% for the year. Meats, poultry, fish, and eggs have climbed 10.5%, and beef has shot up an eye-popping 17.6%.

The Guardian reports that nearly 40% of households in the U.S. have faced serious financial difficulties including attempting to pay for health care and food.

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The Biden (Grinch) Who Stole Christmas

A new problem is also adding to an already sluggish economy, and that is supply chain issues. U.S. ports are backlogged with ships waiting to be unloaded and transferred to other forms of transport.

When asked about the state of holiday shopping for Americans, one senior White House official told Reuters, “There will be things that people can’t get.”

Economic 70’s Flashbacks

The concern on Wall Street seems to be a fear of returning to 1970’s era mix of sluggish economic growth and high inflation which came to be known as “stagflation.” 

Politically, continuing economic woes could spell big trouble for Joe Biden and the Democrats. A new Reuters/Ipsos poll shows that the economy continues to be the most pressing issue for both Republicans and Democrats.

A Quinnipiac poll from last week is also bad news for Biden. It showed only 29% of the public think the economy is in “good” or “excellent” condition. That number was at 35% in April.

Seth Weathers, a Republican strategist who ran Donald Trump’s 2016 campaign in Georgia, commented on the local impact that could also be nationwide, “People here in Georgia are paying twice as much for items than they paid a year ago, and they are blaming Biden. He’s in charge.”

 

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Becky Noble

Becky Noble, a political blogger and writer for over 10 years, lives by the motto, “Being normal is not necessarily a virtue. It rather denotes a lack of courage.” Her work has appeared on PolitiChicks, TheBlackSphere, NewsNinja2012.com, Examiner.com, and more. Becky is currently a Journalism student in her senior year at Regent University.

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