A brand new poll reveals that 59 percent of registered voters in the United States blame President Biden and his administration for increased inflation.
The Politico/Morning Consult survey, released on Wednesday, stated that among all voters, 39 percent held the administration “very” responsible for the higher costs, while 20 percent said President Biden was “somewhat” responsible.
Only 28 percent of people polled stated that the administration’s policies were not too responsible at all for the current inflation spike.
Among Republicans, a resounding 82% pointed to Biden’s economic policies as an inflationary culprit, including 65% who said the policies were very responsible. Forty-one percent of Democrats said the administration’s actions were very or somewhat responsible for the surging prices.
Earlier this month, the Department of Labor announced that consumer prices increased 5.4% for the year ending June, the highest rate of inflation since 2008. The numbers blew past forecast expectations of 4.9%.
Economists have pegged several factors as contributing to the rise in costs. One element is a surge in demand precipitated by people receiving vaccinations and the economy continuing to reopen, with consumers with pent-up demand eager to venture out and spend their money. The Biden administration’s fiscal policies have also infused the economy with federal spending, another reason why some economists say inflation is up.
Another huge factor contributing to inflationary pressure is the supply-chain bottlenecks that have plagued the country, as well as the rest of the world, since the start of the pandemic. As demand increases, there have been backlogs of goods, which is creating scarcity and driving up prices. For example, a lack of computer chips for cars has resulted in fewer new cars and has sent used car prices skyrocketing, and the furniture industry is struggling with long waits and back-orders for merchandise.
Out of the nearly 2,000 registered voters who participated in the survey, 53 percent of them blamed the country’s return to pre-pandemic America for why the rate of inflation is currently sitting at a 13-year high. A whopping 69 percent of Democrats and 39 percent of Republicans agree.
This survey was conducted between Friday and Monday with a margin of error of 2 percentage points.