The public’s perception of President Joe Biden is increasingly at the whim of monthly inflation reports, with persistently rising consumer prices overshadowing other developments that could help Democrats in November’s midterm elections.
Democratic strategists, such as Simon Rosenberg, insist nine months is an eternity in politics, even during an unprecedented pandemic.
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“I would still rather be us going into the midterms,” he told the Washington Examiner.
Rosenberg urged Democrats to be prepared for the possibility that another COVID-19 variant emerges this fall after the omicron variant became a problem last Thanksgiving. But “by all consensus,” economic indicators remain “very strong” for this year, and Republicans’ “radicalization” is becoming “harder and harder” to ignore.
“What you’re gonna see is a mindset change in Washington, where Democrats are not spending their time talking about all the things we haven’t done,” Rosenberg said. “We’re going to be talking about the things we are doing or have done.”
But Biden could not hide his frustration with Lester Holt this week when the NBC Nightly News host asked the president about his definition of “transitory” inflation, hours after the Bureau of Labor Statistics found that consumer prices rose by 7.5% in the 12 months ending in January, the fastest pace since 1982.
“You’re being a wise guy with me a little bit,” Biden told Holt.
Inflation is linked to pandemic-related supply chain kinks, a complication he is remedying, according to Biden.
“According to Nobel laureates, 14 of them that contacted me, and a number of corporate leaders, it ought to be able to start to taper off as we go through this year,” he said. “In the meantime, I am going to do everything in my power to deal with the big points that are impacting most people and their homes.”
People list inflation as their No. 1 concern in poll after poll before the midterm cycle, given its immediate effect on household budgets. For example, almost 50% of the public told Gallup last month inflation had caused their family hardship, a jump of 4 percentage points from November when 45% expressed the sentiment. Roughly 10% described that burden as “severe” in January, the same portion as November.
White House press secretary Jen Psaki amplified Biden’s calls this week for Congress to pass his $2 trillion social welfare and climate Build Back Better legislative bill, contending provisions such as those covering prescription drugs were an inflation antidote.
“We believe there’s a path for it, and the president’s going to continue to fight for it,” she said.
There was also the already cleared $1 trillion bipartisan infrastructure deal, and lawmakers are negotiating a competition bill that will supplement Biden’s executive actions in that space, according to Psaki.
But before the midterm elections and predictions that Republicans will flip Capitol Hill’s balance of power, inflation has near-term ramifications for Biden’s priorities.
West Virginia Democratic Sen. Joe Manchin, a critical vote in the evenly divided Senate, reminded local radio listeners this week “the threat of inflation is real” and Biden “must proceed with caution before adding more fuel to an economy already on fire.”
“Now’s not the time to be throwing caution to the wind, putting more trillions of dollars out,” Manchin said. “Right now, we’re not in a financial position to do [it]. We’ve got to get our financial house in order.”
January’s inflation report, which conveniently coincided with Biden’s trip to Virginia and Psaki not having time to brief informally en route, eclipsed good news for the White House, including what appears to be a crested omicron wave and promising jobs data.
That did not prevent Republicans from seizing on the inflation figures, as the Republican National Committee charged “Bidenflation” with hurting “low and fixed income Americans the most — those who can least afford it.”
“Unfortunately for the American people, Biden has decided to double down on the policies that caused this inflation in the first place,” RNC spokesman Tommy Pigott said. “Whenever Biden says the word ‘prices,’ remember this: He lied about inflation for months, has lied about its consequences, and has zero credibility on the issue.”
In response, Democrats countered that Republicans have no plan to tackle inflation.
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“While President Biden and Democrats have laid out clear steps to address inflation and reduce the healthcare, child care, and prescription drug costs that working families struggle with, Republicans are content to do absolutely nothing,” the Democratic National Committee said.
