NBC Analyst John Heilemann is arguing that “Democrats have been in denial” about inflation, and it’s going to cause them big trouble in the upcoming midterms.
Heilemann, perhaps best known for his books about the 2008 and 2012 Presidential elections, “Game Change” and “Double Down,” warned of dire consequences for the Democrats if they don’t figure out how to deal the inflation problem.
Heilemann made his remarks during an exchange on HBO’s “Real Time with Bill Maher.”
Heilemann said to host Maher, “Democrats have been in denial about this…people do not remember in this country what it was like to have runaway inflation and have inflation that destroyed — was one of the main reasons that destroyed Jimmy Carter’s presidency.”
“If you look around the world over the last 150 years, there is nothing that spells political ruin more than inflation,” Heilemann.
The NBC personality and author said Democrats have their head in the sand on this issue.
“And you’ve seen Democrats for the last year basically go, oh, it’s going to be fine. It’s transitory,” Heilemann continued. “It’s going away.”
“It’s like, guys, it’s the only thing everybody’s worried about around the country. It’s the number one issue everywhere you go, and if Democrats don’t take it seriously and Joe Biden doesn’t take it seriously, if they don’t figure out a way to message it or solve it, one or the other, or both, they’re going to get crushed in these midterms, almost exclusively on this issue,” he warned.
Inflation is at it’s highest rate in 40 years, officially reaching 7.9%.
Worse, Reuters reports that future inflation expectations are getting higher and higher.
Heilemann said basic kitchen table economics is going to lead Democrats to “political ruin.”
“It’s so much — so far ahead of everything else, people’s not being able to pay their bills because prices are just rising and they can see them rising week to week,” he finished. “That is a road — a fast road to political ruin.”
Former Bill Clinton advisor James Carville coined the phrase, “[It’s] the economy, stupid” in 1992 went the U.S. economy was struggling – largely recognized as President George H.W. Bush’s downfall.
Conditions today are much worse than they were in 1992 – and President Biden’s approval ratings don’t look much better than Bush’s did then.
Biden’s job approval is at the lowest it’s ever been, with an average approval of just 40%.
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