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Inflation. Source: Wikideas1, made available under the Creative Commons CC0 1.0 Universal Public Domain Dedication (https://creativecommons.org/publicdomain/zero/1.0/deed.en). If there’s a topic uppermost on most people’s minds today, it is certainly the surge in inflation over the past year. Soaring prices have affected virtually every person in the country. And Americans say they know who’s responsible: President Biden. Surprisingly, that includes more than half of all Democrats, too.
May’s 8.6% annualized inflation rate, the highest in 40 years , shocked financial markets and alarmed consumers and workers alike. As we’ve been reminded over the years, inflation acts as a tax on everyone, lowering standards of living, raising costs across the board, and eroding the very foundations of a productive economy. And once entrenched, it’s very difficult to get rid of.
How did this happen? And does President Biden deserve the blame? June’s monthly online I&I/TIPP Poll sought to answer those questions, asking 1,310 adults across the country the following question: “In general, how responsible are President Biden’s policies for causing the current inflation?”
The answers to the poll, which was taken from June 8-10 and has a margin of error of +/-2.8 percentage points, couldn’t be less comforting for Biden and the Democratic Party.
Of those responding, 64% said Biden was “responsible,” choosing either “very responsible” (38%) or “somewhat responsible” (26%). Just 25% answered “not responsible”, with 17% saying “not very responsible” but a far-smaller 8% saying “not at all responsible.” “Not sure” was 10%. But most surprising of all, Democrats have thrown in the towel on Biden’s economic leadership, with 53% blaming Biden’s policies for inflation vs. 39% saying they weren’t responsible. Indeed, of all the major demographic groupings followed by the I&I/TIPP Poll, just one was below 50% overall: self-described “liberals.” All the other groups, including blacks (61%), Hispanics (61%), men (68%), women […]
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