(Fwrd Axis) — President Joe Biden will deliver remarks on inflation Tuesday as his administration looks to address key concerns for voters with November’s midterm elections looming, a White House official said.
Recent polls have shown around 8 in 10 Americans say the federal government wasn’t doing enough to curb inflation, and a majority said the President’s policies have hurt the economy. Among Democrats, just 71 percent approve of Biden on the economy, lower than the 86% of Democrats who approve of his performance overall.
“He’ll detail his plan to fight inflation and lower costs for working families, and contrast his approach with Congressional Republicans’ ultra-MAGA plan to raise taxes on 75 million American families and threaten to sunset programs like Social Security, Medicare, and Medicaid,” the official said in an email.
The news of Biden’s remarks were first reported by Axios.
Despite record low unemployment, the economy remains the top concern for Americans due to the rise in prices.
Inflation rates have been increasing since August 2021, out of the normal 2%-to-4% range for a full year. Americans are feeling the pinch from the grocery store to the gas pump, leading some to wonder if the central bank is behind the curve.
The GOP is already placing blame on Biden and Congressional Democrats, saying inflation rose due to the pandemic-related stimulus funds into the economy in 2021. Democrats are fighting back, saying GOP policies will raise taxes on some 75 million Americans, including eliminating key programs such as Medicare and Medicaid.
Biden plans to target the GOP in his speech Tuesday and will deliver a plan to the American people despite his top economic advisers saying the Federal Reserve has the most power to drive down inflation.
“Too many families are struggling to keep up with their bills,” the President said earlier this year. “I get it. That’s why my top priority is getting prices under control.”