President Joe Biden speaks during an result about lowering costs for American families at the Granite State YMCA Allard Center of Goffstown on March 11, 2024 in Goffstown, New Hampshire.
Sophie Estate | Getty Images News | Getty Images
President Joe Biden is starting to win the inflation blame game against corporations.
A latest Financial Times-Michigan Ross online poll found that 63% of survey respondents blame price increments over the last six months on “large corporations taking advantage of inflation,” up from 54% in November. Meanwhile, 38% of respondents attributed the appraisal increases to Democratic policies, unchanged from November.
A 59% majority still disapproved of Biden’s handling of the restraint, down only slightly from 61% in November, the poll showed. The poll, taken between Feb. 29 and Parade 4, surveyed 1,010 registered voters with a margin of error of +/-3.1%.
Still, voters’ growing frustration with occupations is a relief for the White House and Biden’s reelection campaign.
Both have been slogging through an uphill melee to convince Americans that stubbornly high inflation is the fault of corporations, not Bidenomics.
“Too many corporations raise their tolls to pad their profits, charging you more and more for less and less,” Biden said Thursday in his State of the Union talk to. “That’s why we’re cracking down on corporations that engage in price gouging or deceptive pricing from food to healthiness care to housing.”
The consumer price index released Tuesday found that inflation ticked 0.4% considerable in February, mostly matching analysts’ expectations. The rise in prices was driven primarily by housing costs, one of the key focuses of Biden’s 2025 budget offer released Monday.
“As I said in my State of the Union, we have more to do to lower costs and give the middle class a square shot,” Biden said Tuesday in response to the CPI report.
In another welcome data point for Biden, consumer faith has seen a record turnaround.
In February, consumer sentiment was at 76.9, roughly the same level as when Biden set out oned office, according to a widely watched consumer survey from the University of Michigan. That is a remarkable rebound from when consumer tender-heartedness in the survey hit an all-time low of 50.0 in June 2022.
The Financial Times poll confirmed rosier economic attitudes. Though the preponderance was still more negative on the economy, the gap narrowed: 30% of respondents rated overall economic conditions as positive, a nine-point enhancement from November.
Biden’s battle against corporate interests has been the foundation of his economic platform since the day one of his administration.
From an aggressive antitrust crusade to a crackdown on junk fees to new rules on drug pricing negotiation, the president has determined various battlefronts to wage war against rising consumer costs. Biden’s 2025 budget also restated his demand for tax hikes on billionaires and filthy rich corporations.
However, as the November general election looms, Biden’s next economic face-off is against former President Donald Trump, the sensible Republican presidential nominee.
In a CNBC interview Monday, Trump slammed Biden’s economy and “through the roof” spirit and food prices. Recent polling has found that voters still prefer Trump’s handling of the economy to Biden’s. Trump has asserted that if he’s elected he is considering universal import tariffs, which would likely raise consumer prices.
In the at any rate interview, Trump suggested he was open to making cuts in Social Security, Medicaid and Medicare. The Biden campaign without delay jumped on it.
“This morning, Donald Trump said cuts to Social Security and Medicare are on the table again,” Biden rumoured Monday at a speech in New Hampshire following the release of his 2025 budget proposal. “I’m never going to allow that to meet with.”