Federal Bank Report Crushes Biden’s Economic Narrative

(RightWing.org) – It’s not hyperbole to say that the outcome of the 2024 presidential election will be critical to the path the United States will find itself on for the foreseeable future. Many factors go into a person’s decision on who they will vote for, but as James Carville said during his stint as one of former President Bill Clinton’s political advisors regarding one overriding major piece of that puzzle, “It’s the economy, stupid.”

In Your Face

President Joe Biden has been trying to push a narrative placing the blame for the pain Americans are feeling in the pocketbook onto well… anybody he can think of besides himself. He has been bandying about terms like “shrinkflation,” which is the practice of putting fewer “widgets” into a package without lowering the price; his other linguistic invention is “greedflation,” which is simply his way of blaming the evil moneygrubbing corporations trying to stick it to the public.

Unfortunately for POTUS the Federal Reserve Bank of San Francisco recently pointed out the flaws in his theories when they published an economic letter dated May 13 and analyzed the data from the post-pandemic recovery. While price increases did impact the automotive and petroleum sectors of the economy, its final conclusion was that “rising markups have not been a main driver” in the continued increase in inflation.

All of this could point to several problems for Biden in the upcoming election cycle based on the findings of a recent ABC News/Ipsos poll. They asked people how important certain “issues [would] be in your choice of which candidate to support.” Far and away, the economy (88%) and inflation (85%) were the respondents’ top two concerns, with crime and safety coming in a fairly distant third at 77%.

The pollsters also asked who the people would trust more to handle the issues and former President Donald Trump was the clear favorite in all three categories (46/32, 44/30, and 41/33 respectively).

Also of note, the Liberal tactic of criminally prosecuting the ex-POTUS in an attempt to somehow make him ineligible to hold office as president again (having failed to impeach him for that singular purpose in 2021) seems to be backfiring. That abuse of the legal system could turn into a negative for Biden because Americans tend to root for people who they view as being bullied, especially when it’s Big Government doing it.

An Associated Press/University of Chicago poll about the time the courtroom trial in New York City began in mid-April found that less than one in three felt reasonably confident in saying that prosecutors are treating Trump fairly.

One major shock that came out of the AP survey is that only 31% of DEMOCRATS are confident that the jurors can be “fair and impartial” when it comes to deciding the cases against Trump. All in all, the race is far too close to call this point in time, especially now that Robert F. Kennedy (RFK) Jr. has announced himself as an independent to make it a three-way contest.

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