Record-high inflation puts a lot of pressure on Democrats ahead of the midterms, forcing Mr. Biden to seek to channel criticism towards Russia.
The challenge called “inflation” for the administration of President Joe Biden has not shown any signs of abating, when the US Department of Labor on April 12 released a report showing that the Consumer Price Index (CPI) increased by 8.5%. for the past year, up to the end of March. This is the inflation rate tallest of the United States from December 1981 to present.
Inflation is considered the top reason for President Biden’s approval rate record low This was also the top threat to the Democrats’ prospect of continued control of both houses of Congress, when the midterm elections were only five months away.
Rising consumer prices have clouded the US economy for months, even before Russia launched its military campaign in Ukraine on February 24. Electricity prices in the US increased 32% in the past year, while food prices increased by about 8.8% and also the strongest increase since May 1981.
In March, US consumer prices increased mainly due to gasoline and food prices, when the war in Ukraine escalated and the West imposed a series of sanctions against Russia. In March alone, gasoline prices in the US increased by 18%, 48% higher than the same period last year.
US President Joe Biden speaks at the White House about the energy plan on March 31. Image: Reuters.
In the face of political pressure and a wave of public criticism about soaring consumer prices, the Biden administration has recently “pointed the nose” at Moscow.
Speaking on April 12 in Iowa, Biden reaffirmed that “Russian President Vladimir Putin’s military campaign in Ukraine has raised the price of gas and food around the world.”
The White House has recently issued similar messages, saying that President Putin’s military campaign and energy cards have disturbed global markets, “poured more fuel on the fire” of inflation in Vietnam. America.
This could be part of Biden’s tactic to reduce political risks and preserve the Democratic majority in Congress, especially as Republicans relentlessly attack the President’s economic policies. Some Republicans are even calling the current situation “Bidenflation”.
According to Peter St. Onge, an economic policy expert at the Heritage Foundation, the way the US President and Democrats turned Russia into a “scapegoat” in the midst of a storm of criticism of inflation still have a chance to succeed, in part because of his argument. The White House is based on the actual impact of the Ukraine crisis on the global market.
According to a survey conducted by ABC News/Ipsos and published over the weekend, more than 71% of participants said that President Putin was the reason for the high gas prices. About 68% of Americans polled blamed the oil companies, while 51% rated it as President Biden’s responsibility.
Before the outbreak of the war in Ukraine, gasoline prices in the US tended to decrease thanks to supply gradually catching up with market demand after the blockades to prevent the Covid-19 pandemic, according to Mark Zandi, chief economist. by consulting firm Moody’s Analytics.
The US Energy Information Administration (USEIA) estimated the average gasoline price as of December 27, 2021 at $3.28 per gallon (about $0.86 per liter). Zandi said that if Russia did not launch a military campaign in Ukraine, the price of gasoline in the US could fall further to the mark of 3 USD / gallon (0.79 USD / liter) and the US economy would be more stable.
After the outbreak of war in Ukraine, gasoline prices by mid-March jumped to a record $4.32/gallon, then fell to $4.09 thanks to the self-regulating market and government intervention. America.
“Americans are spending more money at gas stations because of Putin’s decision. There is no other reason,” Zandi said.
The Biden administration has also mobilized many tools to “rescue” Americans from the burden of rising prices. At the end of last month, he ordered liberate, release, free 1 million barrels of oil per day from the Strategic Petroleum Reserve (SPR) continuously for 6 months. The US Environmental Protection Agency (EPA) is expected to urgently end a ban on the sale of ethanol-blended gasoline this summer, helping to reduce gasoline prices by 0.1 USD/gallon (about 0.026 USD/liter) or more.
“I am doing everything in my power, through executive orders, to bring prices down and respond to Putin’s price-push tactics,” the US President said on April 12. He affirmed that every American family’s pocket and their desire to “fill up their gas tank” cannot depend on the military campaign of the leader of a country “half a world” from the US.
However, observers say that the White House cannot forever apply the tactic of blaming Russia if inflation continues, directly affecting people’s lives and possibly affecting the midterm congressional elections in the coming year. November.
A recent CBS News/YouGov survey shows that American voters consider the economy and inflation as their top priority issues, above the Ukraine crisis. Nearly two-thirds of survey respondents think Mr Biden should have taken more drastic action to reduce gasoline prices.
President Biden’s approval rating rose slightly in February, when he persuaded NATO to bolster its deterrence against Russia in Eastern Europe shortly after the outbreak of hostilities in Ukraine. However, this foreign achievement did not help improve Mr. Biden’s approval rating.
“I think that the US policy in the Ukraine crisis is not enough to change people’s view of President Biden. America’s close worries are still domestic problems,” said Kyle Kondik, chief analyst. at the Center for Political Science at the University of Virginia, says.
Americans shop at a grocery store in Washington, D.C. on April 12. Image: AFP.
High inflation is a top concern for American voters because it directly affects people in all political and economic groups, with low-income workers suffering the most, said Doug Heye, strategist for the party. Republic, emphasis.
It’s not just US consumers who are worried about record-high inflation. According to statistics from the National Association for Independent Business (NFIB), about 31% of small business owners in the country say inflation is the most important issue at this time.
Desperate to regain a majority in at least one of the two houses of Congress, Republicans are pushing the message that the price hike is President Biden’s fault. Republican congressmen and politicians emphasized that gasoline prices and inflation in the US have continuously increased since Mr. Biden took office until now.
“The president is manipulating the minds of the American people. He seems to think that if he repeats it enough, people will believe that the gas price hike is Putin’s fault,” said Republican Sen. Joni Ernst in May. 3 criticized Mr. Biden.
According to Doug Heye, no matter how great a foreign policy achievement Mr. Biden and his advisers may have been in their efforts to deal with Mr. Putin, the persistent increase in inflation over the past year makes the President’s message The president of the United States became less convincing to voters.
The strategist said that Republican leadership increasingly sees inflation as the “weak heart” of Democrats and will continue to focus on it to win the midterm elections. They only need one more seat in the Senate to regain the majority, while the races for the House of Representatives are very intense.
Kondick, a politics expert at the University of Virginia, thinks this will be a big challenge for President Biden and the Democrats, as the blame for Russia no longer works if inflation continues to rise.
“People watch inflation every day. That’s a problem anyone in America has to face,” Kondick said.
Trung Nhan (According to Boston Globe, CNN)
at Blogtuan.info – Source: vnexpress.net – Read the original article here
