Joe Biden is in deep trouble.
Not even Democrats can deny it any longer.
And Joe Biden got blindsided by the one shocking development that could end his Presidency.
There are two big variables weighing down Joe Biden’s poll numbers.
One is his age.
Americans see Biden struggle on a daily basis as his cognitive and physical decline stick out like a sore thumb.
But the second factor causing Americans to sour on Biden is inflation.
Prices are up 17% since 2020, and a recent CNN poll found that 58% of Americans say Joe Biden’s policies made the economy worse.
Democrats and the press spent months trying to gaslight the public into thinking inflation was “cooling” because it was only rising around three percent year-over-year on the most recent reports.
That ignored the fact that a three percent rise in prices was a three percent increase from a year ago when prices jumped seven percent.
Research fellow at the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget E.J. Antoni told the Daily Caller that this latest report was the second in a row, which showed inflation trending back upwards showing that the Federal Reserve raising interest rates to the highest levels in decades failed to slow down the inflation caused by Joe Biden’s socialist spending.
“This will be the second acceleration in a row, showing that inflation is anything but dead,” Antoni explained. “Although we’ve been told that inflation has been trending back towards 2%, that’s false. If anything, the annualized monthly data show it was trending towards 3% and is now climbing again.”
Antoni put into concrete terms the pain the American people felt from inflation, which influenced the negative outlook on the economy and Joe Biden’s Presidency that the polls reflected.
“I expect the Fed will continue with a combination of pauses and 25-basis-point hikes for several more months while continuing to slowly run off the balance sheet,” Antoni added. “To put the inflation of the last two and a half years in perspective, roughly all of the household net wealth generated over that time has been confiscated by the government through the hidden tax of inflation.”
Currently, the polls show Joe Biden running even with Donald Trump in what would certainly be a highly competitive rematch if Trump is the Republican nominee.
If inflation persists and keeps shooting up going into next year, it will be impossible for Biden to make the case to voters that they are better off today than they were four years ago.
And that is a dangerous place for an incumbent President to be.