It's the INFLATION, Stupid!

In 1992, James Carville coined the phrase "It's the economy, Stupid" while working as an advisor to Bill Clinton's presidential campaign. As Joe Biden touts the 'accomplishments' of Bidenomics, people across the nation question his policies.

Cutting domestic energy production has hurt the economy. It's hurt families' budgets by driving prices up on everyday goods like groceries and gas at the pump. The American Rescue Plan unleashed inflation to its highest CPI (Consumer Price Index) rates since the Carter administration. Then Joe Manchin caved and voted for the dishonestly named Inflation Reduction Act, which didn't do anything to curb inflation but did plenty to spend wildly on unwanted Green New Deal programs.

Still, it'd be dishonest to describe this economy as strong. Let's eliminate 2021 from consideration because that economic performance still had much to do with the previous administration's policies. From the start of 2022 through today, the economy has grown at a 1.3% annual rate, according to Fox Business. Further, the first 2 quarters of 2022 showed negative growth of 1.6%, then 0.9%.

Carville is a partisan so I'd advise caution in listening to this quote:

I’m starting to doubt myself a little bit, because this economy is quite good. Maybe it will kick in. And sometimes it takes a while for people to feel it. The economic bounce back, it was had by any measure … but, for whatever reason, people are not connecting this, [they] don’t think that economy’s that good. To the extent they think it’s good, they’re not giving the president’s policies very much credit for it.
People are connecting their feelings to Biden's policies. They know that Biden's policies have driven up inflation, then kept prices high. With kids going back to school, parents have even more stuff to worry about. Their paychecks were already stretched thin. Too many families have bills left to pay at the end of their paychecks. That's causing them to either dip into their retirement accounts or run up credit card debt. Credit card debt topped $1,000,000,000,000 for the first time ever earlier this month: Look at that poll. Almost 80% of the nation think that the economy is "Only Fair" or "Poor". There's a simple explanation for that. It's the inflation, Stupid!

Each time Biden or one of his spinmeisters tell people that they can't trust their lying eyes, the people reject that. This Siena poll proves that.

Biden touts the infrastructure bill and the CHIPS Act as accomplishments but those are things that take time to make an impact. People feel high grocery prices and high home heating bills immediately. Short of Biden changing his environmental policies, we're stuck with high grocery prices and high home heating bills for the forseeable future. It's that simple.

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