The GOPAC Newsletter: 08.02.24

WG Economy: Will Harris Be Able to Escape Inflation? WG Economy | David Winston July 31, 2024 The Associated Press reported that new Democratic nominee Kamala Harris "freshens up" her economic message on equity and fairness and incorporating progressive themes like price gouging. The article pointed out that "Not once in speeches in Wisconsin, Indiana or Texas did she mention the word "inflation" - the overwhelming economic challenge that has dogged Biden's administration." It went on to say that "there is an expectation that criticism on inflation will not stick to her because for many voters she represents a fresh voice..." Democrats will try to avoid the issue of inflation unless Republicans allow them to do so and choose to focus on other topics. To the frustration of the Biden administration, voters still believe inflation is getting worse (51%) rather than better (21%) or not changing (26%). The year-over-year rate has moderated since its peak in 2022, but the cumulative rate of inflation since the start of the Biden presidency is 20.1%. That means this same level of price increase happened on her watch too.

The Biden inflation record is second only to Jimmy Carter's at this point in their administrations. Gas has gone up almost 50% since the start of the Biden term (48.7%), electricity 31.6% and food over 20% (21.7%) There is a belief among the electorate that government policies under President Biden and Democrats in Congress have caused inflation to increase and prices to go up (53-36 believe-do not believe).

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