Voters Place More Blame on Businesses than Biden for Persistent Inflatio

Last Updated on March 13, 2024 by Robert C. Hoopes

President Joe Biden is gaining traction in the battle against rising inflation, with a recent poll showing that 63% of respondents blame large corporations for taking advantage of the economic situation. The poll, conducted among 1,010 registered voters with a margin of error of +/-3.1%, also revealed that 38% of respondents attribute price increases to Democratic policies.

Despite these findings, 59% of respondents still disapprove of Biden’s handling of the economy. However, Biden’s crackdown on corporations engaged in price gouging or deceptive pricing has resonated with voters as they grapple with the impact of rising consumer costs.

The consumer price index released in February increased by 0.4%, largely due to rising housing costs. Despite this, consumer sentiment has seen a remarkable turnaround from an all-time low in June 2022.

Biden’s economic platform is focused on addressing the issue of escalating consumer costs through various strategies. His next economic showdown will be against former President Donald Trump, the presumptive Republican presidential nominee. Trump has criticized Biden’s handling of the economy and has proposed universal import tariffs that could further raise consumer prices.

In response, Biden has assured voters that he will not make cuts to Social Security, Medicaid, and Medicare if he is reelected. As the battle over inflation continues to unfold, voters will be closely watching how both candidates propose to tackle the growing economic challenges facing the nation.