According to AP News, inflation has increased 7% in the past year, increasing things like household items and worrying many as they fear this is a bad sign when it comes to what we can expect economy-wise. As AP reports, prices began to rise due to recovery to the economy after many were at home with stay-at-home orders, causing what some refer to as the pandemic recession. Now, although inflation is not a problem for the US alone, many are directing their questions and concerns to Biden, causing “Biden’s Inflation” to trend on Twitter.
Inflation just hit another new high of 7% on the same day we will hit a new high on covid hospitalizations & cases. The border is near all time highs for illegal crossings, murder in many cities is at all time highs. Simple question: what has Joe Biden made better in a year?
— Clay Travis (@ClayTravis) January 12, 2022
Interestingly, AP News reports that “The United States hasn’t seen anything like it since the early 1980s.” Although it was initially suggested that inflated prices, like with expensive gas and groceries, were temporary, many are still seeing these effects and it is evident that inflation is becoming a bigger problem than what was first suggested. Others worry about a wage-price spiral, where workers seek higher pay and employers then raise their prices to continue their profits. Some senators or representatives mentioned this in the discussion of inflation, saying multi-million companies could raise wages without raising prices, but choose not to.
Big corporations are raking in record profits. When regulators let them buy out their competition, corporate giants have more power to raise prices and wring more dollars out of working people. To help fight inflation, we need more competition and a level playing field.
— Elizabeth Warren (@ewarren) January 12, 2022
It’s not just inflation — it’s corporate greed. https://t.co/qhTPMF4UT7
— Nina Turner (@ninaturner) January 12, 2022
Also announced was Biden’s approval rate- which is now down to 33%. Many believe this is a reflection of increasing prices, as this is an issue that affects everybody, even if they are not usually involved in politics. And, with Biden’s speech about voting rights when he spoke in Georgia today, some are calling Biden out for his priorities.
If only Joe Biden cared as much about stopping inflation as he does about lying about voter ID laws.
— Tom Cotton (@TomCottonAR) January 11, 2022
At this point in his presidency, Biden’s 33% approval rating is the lowest of any president in modern history.
— Ronna McDaniel (@GOPChairwoman) January 12, 2022
Overall, no matter what your political bias may lie to, inflation is concerning many, as some worry about not being able to afford the high gas prices or grocery store prices. And, many also worry that the prices will only continue to increase, with some believing evictions should not be allowed again or another stimulus check should be put into place.