Steve Moore says inflation could bring down Joe Biden's presidency
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Joe Biden’s Administration could be brought down by rising inflation, Steve Moore told Fox News. Mr Moore warned that President Biden may face the same fate as former White House incumbent Jimmy Carter who was kicked out of office by Republican President Ronald Reagan in 1980. He stressed that President Carter had lost the race in a landslide defeat due to rocketing inflation similar to the levels seen currently in the US under Mr Biden.
Mr Moore told Fox News: “It’s something that people see every single day, whether you go to the grocery store, whether you go see your travel agent, whether you go to the gas pump, everybody is feeling this inflation.
“So it’s not something that’s made up, it’s not transitory.
“And the problem for Joe Biden is that he was saying, well, gee, wages are up.
“So why are people feeling so uncomfortable?”
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“The answer to that is yes, wages are up by 4 percent, but prices are up by 6.2 percent.
“So the math is simple here then if your prices and cost of living goes up by 6.2 percent then your paycheck is shrinking.
He added:” I’m old enough to remember when Ronald Reagan ran against Jimmy Carter for President in 1980, the last time we had this kind of inflation.
“And Jimmy Carter lost in a landslide election to Ronald Reagan, the challenger and inflation was the major factor.”
Joe Biden faces drop in approval ratings after polling
US inflation has risen to levels not seen for more than 30 years.
Consumer prices accelerated 6.2 percent in the 12 months through October, the largest year-on-year jump since November 1990.
Mr Biden has acknowledged that rising prices are a growing problem.
“Consumer prices remain too high,” The President said in Baltimore on Wednesday.
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“We still face challenges we have to tackle head-on.”
It comes as a poll by Suffolk University in Boston and USA TODAY highlighted that Mr Biden’s approval rating have collapsed since August.
Mr Biden’s approval rating is hovering at 38 percent.
David Paleologos, director of the Suffolk University Political Research Center, said: “If these low approval numbers continue into 2022, it will likely impact midterm Democrats on the ballot.”
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