<mediadc-video-embed data-state="{"cms.site.owner":{"_ref":"00000161-3486-d333-a9e9-76c6fbf30000","_type":"00000161-3461-dd66-ab67-fd6b93390000"},"cms.content.publishDate":1666621468203,"cms.content.publishUser":{"_ref":"00000162-07b6-de22-a173-2ffe05de0001","_type":"00000161-3461-dd66-ab67-fd6b933a0007"},"cms.content.updateDate":1666621468203,"cms.content.updateUser":{"_ref":"00000162-07b6-de22-a173-2ffe05de0001","_type":"00000161-3461-dd66-ab67-fd6b933a0007"},"rawHtml":"
var _bp = _bp||[]; _bp.push({ "div": "Brid_66460927", "obj": {"id":"27789","width":"16","height":"9","video":"1123151"} }); ","_id":"00000184-0a61-d5ff-a7af-1eff5fcf0000","_type":"2f5a8339-a89a-3738-9cd2-3ddf0c8da574"}”>Video EmbedThe historical fundamentals have always favored the Republicans in the Nov. 8 midterm elections. The party out of power has it good even amid a strong economy, as Democrats showed in 2018, but add to Republicans’ advantages this year a situation of crippling stagflation.
And Democrats have hardly helped themselves, either. After a campaign of obsessing over a riot that happened nearly two years ago, “democracy,” and the right of a woman to abort her baby nine months into a pregnancy, Democrats are absolutely dumbfounded that they’re behind, and badly at that.
HOW MUCH LONGER MUST WE PRETEND DEMOCRATS ARE REASONABLE
The reasons are obvious. Here are just five statistics to illustrate the tangible costs of inflation under Joe Biden’s presidency to the average voter:
- The cumulative inflation rate since Biden’s inauguration: 13%
- Gas price increase since Biden’s inauguration: 60%
- Food price increase in the past year: 11%
- The decrease of the average 401(k) since Biden’s inauguration: 25%
- The decrease of the Dow since Biden’s inauguration: 6%
Democrats and their friends at the Federal Reserve spent last year promising that inflation would prove transitory. For most of this year, they repeatedly (and wrongly) reasserted that inflation had already peaked. Now, the Fed’s quantitative tightening and long-overdue rate-hiking campaign is at odds with the Biden administration’s continued spending spree. Democrats must now resort to defending themselves with the absurd argument that even if inflation is happening, inflation is actually not that bad.
“Inflation’s an issue, but it’s global,” Nancy Pelosi told Punchbowl News last week. “When you bring down unemployment, inflation goes up. … So, in any case, [President Joe Biden] brought unemployment [down], cut it in half. Inflation is there, but it’s global and not as bad as it is in some countries. We’ll have to message it better in the next three weeks ahead. I think we’re in great shape. Other people don’t want to believe that.”
Are you in great shape? Sure, if you’re a multimillionaire with a Pacific Heights mansion, your own vineyard in Napa, and a Georgetown pied-a-terre, then who cares if the Nasdaq is down almost 20%, killing your retirement fund? Who cares that your energy bill has nearly doubled?
But the rest of us plebians literally cannot afford the luxury of ignoring inflation and obsessing over Jan. 6.
Pelosi doubled down on her “let them eat cake” declaration on Sunday, telling CBS that “we have to change that subject” when people talk about inflation.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Pelosi could be pressuring the Biden administration to approve more domestic drilling leases. She could be criticizing the (arguably illegal) student debt cancellation scheme that is set to ignite inflation further. Instead, she reminds us that inflation is worse in some European countries. Does she have any plan to reduce our national debt-to-GDP ratio, which is now significantly worse than that of the Eurozone? Doubtful.
And please note that the French guillotined their ruling class for less.
