Democrats on Tuesday pivoted towards addressing 40-year-high inflation after months of claiming rising costs were just “transitory.”
“Obviously, our analysis is going to be done by our economic experts. They continue to convey that they believe the impact will be temporary, transitory,” White House press secretary Jen Psaki said.
INFLATION: Jen Psaki says White House economic experts believe inflationary impact will be “temporary, transitory.” pic.twitter.com/SbNuByIQzD
— Forbes (@Forbes) May 10, 2021
In December, Biden’s financial experts admitted inflation was no longer transitory, but it took congressional Democrats until the middle of February to pivot in the direction of vocally issuing concerns about rising costs.
“You’re going to see a lot of activity in March from us on that issue,” Sen. Chuck Schumer’s (D-NY) finally said Tuesday.
“We’re going to focus like a laser on reducing costs — the new proposals and new ideas keep coming,” he continued. “We’re going to propose legislation and we’re going to move forward, and we’re going to go back to our states and start talking about these things.”
Biden on Tuesday also acknowledged Bidenflation is hurting Americans’ pocketbooks. “There is real inflation, and if you’re in a working-class family, it hurts. That’s why my Build Back Better plan — what’s it all about,” Biden said. “Look, families are getting clobbered by the cost of everyday things.”
On Wednesday, Sen. John Thune (R-SD), an establishment Republican who often agrees with Democrats, pointed out that Schumer and Biden have finally realized Democrats were wrong on inflation due to polling data. Thune said:
The Democrats made a very noticeable pivot yesterday, I don’t know if you noticed this, but starting with Senator Schumer’s floor marks, but throughout the day, all of a sudden they’re starting to talk about inflation. So evidently, they have looked at some polling data and realized the impact that this is having on the American people and what the American people think about their leadership as a result of that.
But Schumer’s solutions to reducing inflation are to spend more taxpayer money, flood the economy with cash, and give handouts via the costly Build Back Better package.
“We’re having lots of discussions with individual senators to get Build Back Better moving again,” Schumer said Tuesday. “We’re sitting down and discussing things with Senator Manchin, and we want to hear what he has to say.”
Manchin, who hails from a state that nearly voted by 40 percentage points for Trump, has indicated over and over again he is not interested in spending more taxpayer money while inflation is at a 40-year-high.
“I cannot vote to continue with this piece of legislation. I just can’t. I’ve tried everything humanly possible. I can’t get there,” Manchin said about Biden’s massive spending package.
It is unclear where Schumer may turn with Manchin’s opposition. University of California, Berkeley, economics professor Yuriy Gorodnichenko told Reuters he is unsure what the Democrat-controlled Congress can do about Biden’s inflation.
“I’m not sure there’s much Congress can do about it,” he said, citing the cost increases across a broad range of sectors.
Polling data indicates inflation and the economy are top issues heading into the November midterms. Democrats also lag behind Republicans in economic trustworthiness.