There are a lot of strikes against today’s economy. The current recession, a 9.1% inflation rate, and unaffordable gas costs certainly make the top of the list.
Owing to the downward turn of the economy, many Americans have been forced to make lifestyle changes, many of which aren’t pleasant. Sometimes, these changes involve leaving retirement, taking on an extra job to make ends meet, or even cutting back on time spent driving each month.
Despite serious economic struggles, the Biden administration and the Democrat Party are blaming Republicans and the Russian president for today’s challenges. Meanwhile, recent polling shows the majority of Americans aren’t falling for these claims.
New Polling on the Economy
On Wednesday, Rasmussen Reports came out with a new poll that Democrats aren’t going to like.
The results show that 59% of the American public believes Democrats did great damage to the US economy, despite coming into power amid economic success. In another telling sign, more than nine in ten Americans confirmed the economy will play a role in who they vote for during the November midterms.
62% of voters think the US economy is in a #recession.
— Rasmussen Reports (@Rasmussen_Poll) August 3, 2022
Nevertheless, the White House and its allies remain adamant that America’s not actually facing a recession. They’ve even begun to switch up the terminology and criteria for a recession.
However, Rasmussen Reports’ latest poll shows most people across the nation aren’t buying it.
The majority of every single racial demographic today agrees the US economy is in a recession. Despite this general understanding amongst the American public, even US Treasury Secretary Janet Yellen insists the country isn’t really facing a recession.
Worst Days to Come?
Regardless of the latest polling on the economy and the facts of what Americans are up against today, Democrats are still joining forces to pass yet another spending bill.
The Inflation Reduction Act, contrary to its name, will not actually reduce inflation. Instead, it will raise taxes on anyone earning at least $30,000 per year. On top of this, corporations will also be hit with higher taxes, thus forcing them to pass these costs down to their consumers and employees.
The Inflation Reduction Act should be called the Deflation Act cause it will deflate the pockets of the middle class and everyday Americans.
— Mayra Flores (@MayraFlores2022) August 4, 2022
Naturally, Democrats are pushing back against criticism of this spending bill. Thus far, the party awaits to see if Sen. Kyrsten Sinema (D-AZ) will join the rest of her 49 other party members in the Senate to give this bill it’s make-or-break vote.