“The economy, stupid” is a phrase that was coined by James Carville in 1992. It is often quoted from a televised quip by Carville as “It’s the economy, stupid.” Carville was a strategist in Bill Clinton’s successful 1992 U.S. presidential election against incumbent George H. W. Bush.
With the Presidential election now less than a year away, how is the economy doing? More apropos how are the voting citizens doing? Anyone who is not an elitist is probably aware that Biden’s inflation is a killer! Even though inflation is not as bad as it was last year, it is still continuing ongoing inflation. The politicians can tell us that things are now under control, but those of us who are living in this inflation spiral, know that things are not under control.
From Fox Business:
“Since January, 2021 groceries are up 20%, electricity is up 24%, gas is up 48%, and fuel/heating oil is up 75%.
Furthermore 61% of Americans reportedly living paycheck-to-paycheck,
Inflation, mortgage rates over 7% and credit card APR’s north of 20% have pushed all income brackets into living paycheck to paycheck, according to a new survey from LendingClub Bank.
Many of these individuals are able to survive by using their credit card more and more, as Americans are putting the tab of the debt-driven inflation on the credit card because they can’t afford the cost of living, so credit card debt has now surged past $1 trillion.
To make the overall national situation even worse, from BlazeMedia:
Along with the $33.7 trillion in federal debt, we have a record $17.29 trillion in household debt, $12.14 trillion in mortgages (nearly double the pre-housing-crash peak in 2007), and a shocking $1.6 trillion in auto loans.”
From the Epoch Times:
President Biden is at a critical moment in his re-election bid with Election Day less than a year away and poll after poll shows the majority of Americans disapprove of how he has handled the economy.
Bankrate’s recent survey has revealed that about 9 out of 10 Americans say the economy will play a pivotal role in who they vote for in the 2024 presidential election.
And to top it off … the U.S. poverty rate saw the largest one year increase in history!
If what James Carville said over thirty years ago is as true now as it was in 1992 -> good riddance, Joe Biden!
12/7/23
californiacontrarian