Consumer prices have soared to levels not seen since the late 1970s, thanks to the policies of Vice President Kamala Harris and President Joe Biden.
Breitbart reported that the inflation rate over the first 42 months of their tenure has hit a historic high of 20.2%, impacting public opinion and Harris's presidential campaign.
Since Vice President Kamala Harris and President Joe Biden assumed office, the Consumer Price Index (CPI) has reported a 20.2% increase in consumer prices. This figure is drawn from the Department of Labor's data, reflecting a substantial rise in the cost of living for Americans.
This rate of inflation is the highest experienced by any U.S. president since Jimmy Carter, known for the economic challenges during his administration.
The rapid increase in prices has placed the current administration under scrutiny as they attempt to manage the economic fallout.
Amidst this economic scenario, Vice President Harris has been a pivotal figure in the Senate, where she cast crucial tie-breaking votes for major legislative initiatives. One of the key pieces of legislation was the $1.9 trillion American Rescue Plan.
Many economists argue that the American Rescue Plan has played a significant role in accelerating inflation, contributing to the current economic pressures.
These economic policies have become a focal point in the public discourse, influencing voter sentiment and perceptions of the administration's effectiveness.
A poll conducted by Financial Times/Michigan Ross in May highlights that a majority of voters feel their financial situation has deteriorated under Biden's economic policies.
In response to the growing dissatisfaction, President Biden has attributed the economic discontent to obstruction from the Republican Party and the MAGA movement.
He suggests that their opposition has clouded the public's view of his economic efforts.
Biden stated, "It’s just taking time for people to see it. And the other thing is, there’s not been a very good job done about saying, ‘This new billion-dollar bridge going over there is brought to you by Joe Biden.'"
Comparisons are being drawn to the era of President Jimmy Carter, who also faced severe inflationary challenges during his term.
These historical parallels are influencing how current economic conditions are viewed.
In a notable endorsement, former President Jimmy Carter has expressed his support for Harris in the upcoming presidential election, which makes sense considering he plunged the economy into chaos 50 years ago in a similar fashion.
Harris, who is running for president, has chosen Minnesota Governor Tim Walz as her vice-presidential running mate. Walz is often described as a radical leftist, which adds another layer of dynamics to the race against former President Donald Trump.
