Biden believes inflation is down and economic growth is up

Biden believes inflation is down and economic growth is up

As Vice President Joe Biden began his final four-state campaign sprint on Friday to bolster Democrats ahead of the midterm elections, he responded to a core GOP complaint that the economy has slowed under his watch.

“Here’s the deal: economic growth is up, price inflation is down, real income is up, and gas costs are down,” said Vice President Joe Biden at a rally outside San Diego in favor of Democratic Rep. Mike Levin, who is in a close struggle to retain his seat.

By certain restricted standards, Biden’s comments could be viewed as accurate; for instance, gas prices and inflation have declined significantly from their summertime peaks.

However, both are far more than they were in January 2021, when he entered office, and for voters grappling with skyrocketing prices, his promises may ring hollow.

The consumer price index jumped 8.2% year-over-year in September, up from 1.4% at the beginning of Biden’s term. Nationally, the average price of a gallon of gasoline is approximately $3.75, up from approximately $2.50 during his inauguration.

In the September-ending third quarter, real salaries increased by 0.8%, the first quarterly increase following two consecutive years of fall or stagnation.

And real gross domestic product, the measure of the nation’s total economic activity, returned to growth last quarter after a half-year of contraction, according to a preliminary annualized estimate of 2.6% increase.

Ultimately, voters will decide if they feel more economically secure now than they did at the beginning of Biden’s term, which was a difficult time with a very high unemployment rate of 6.4%.

Biden has frequently cited the robust labor market as evidence of his good economic management, as the unemployment rate has decreased substantially and remains near six-decade lows.

In the midterm elections, however, economic concerns, notably inflation, surfaced as a prominent voter worry, and Republicans have emphasized the issue as they strive to recover majorities in the House and Senate.

Ronna McDaniel, chairwoman of the Republican National Committee, stated last month that Joe Biden is “totally disconnected from reality.” Americans live paycheck to paycheck, are unable to afford rising gas and food expenses, and real wages are declining.

Biden’s rally in California marked the beginning of a four-state, three-day campaign drive, with events also scheduled in Illinois and Pennsylvania.

The tour kicked out in Albuquerque, where Obama spoke about his cancellation of billions of dollars in student debt and slammed record oil business profits to deflect criticism over petrol prices.

Biden urged New Mexico voters to oust “reckless and irresponsible” Republicans and re-elect Democratic Governor Michelle Lujan Grisham.

Typically, New Mexico is a safe haven for Democrats, but Lujan Grisham faces a serious push from her Republican opponent, former television meteorologist Mark Ronchetti.

“Your generation will not be ignored, ridiculed, or silenced,” Biden assured students at Central New Mexico Community College, where he also stated that individuals should not be imprisoned for marijuana use and pledged another effort to prohibit assault weapons.

 

At his second event at MiraCosta College in Oceanside, California, where Rep. Levin is trying to retain a seat previously held by Republicans, Biden reiterated many of the same concerns.

The election between Levin and Republican businessman Brian Maryott is currently rated as a “toss-up” by the Cook Political Report.

Biden reminded the gathering in California, “Democracy is on the ballot.” In reality, this election will define the country’s course for at least a decade or more.

According to public opinion polls, the Republicans could retake the House of Representatives and possibly the Senate.

In part, the decision to deploy Biden primarily to places that he won decisively in 2020 was taken out of concern for voter enthusiasm in contests that Democrats consider as must-wins.

In addition, party officials are anxious about candidates whose races have tightened in the last days of the campaign.

Biden’s itinerary in the final days of the campaign exemplifies the limited political influence of a president who has been kept at a distance by some Democrats facing tight contests this year.

It also suggests that the president, whose favor numbers remain abysmal, has determined that he can be most effective in the closing days of the 2020 election by bolstering support for Democratic candidates in places he handily carried in 2020.

Christopher Borick, director of the Muhlenberg College Institute of Public Opinion, stated, “As the campaign nears its conclusion, it is evident that the Democrats are on the defense.”

Their odds of success do not appear realistic, therefore you should focus on what you can maintain.

Midterm elections generally result in heavy losses for the president’s party. Since 1934, only Franklin D. Roosevelt, Bill Clinton, and George W. Bush’s parties have gained seats in the midterm elections.

Some recent presidents suffered heavy defeats in their initial midterm elections. In 2018, Republicans under Donald Trump lost 40 House seats while gaining two Senate seats. In 2010, Democrats under Barack Obama lost 63 House seats and six Senate seats, and in 1994, Democrats under Bill Clinton lost 52 House seats and eight Senate seats.

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