{"id":1716133,"date":"2022-10-29T07:36:05","date_gmt":"2022-10-29T11:36:05","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1716133"},"modified":"2022-10-29T10:48:36","modified_gmt":"2022-10-29T14:48:36","slug":"bidens-final-pitch-falling-on-deaf-ears","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-final-pitch-falling-on-deaf-ears\/","title":{"rendered":"Biden&#8217;s Final Pitch Falling on Deaf Ears"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidens-final-pitch-falling-on-deaf-ears%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1716133&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/justthenews.com\/sites\/default\/files\/styles\/social_media_share\/public\/2022-10\/GettyImages-1436757290.jpg?h=790be497&#038;itok=pETVqRpG\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Voters continue to trust Republicans more than Democrats to handle economic issues, according to recent polling, despite President Biden warning, in what he dubbed his &#8220;closing argument&#8221; ahead of the midterm elections, that GOP policies would worsen inflation and the broader economy.<\/p>\n<p>The striking gap between Biden&#8217;s rhetoric and voters&#8217; thinking comes as inflation continues to soar at its fastest rate in four decades and pollsters project a strong showing for Republicans on Election Day.<\/p>\n<p>Many Democrats campaigning for the midterms had been <a href=\"https:\/\/www.nytimes.com\/2022\/10\/03\/us\/politics\/house-democrats-abortion-midterms.html\">focusing<\/a> primarily on <a href=\"https:\/\/www.washingtonpost.com\/elections\/2022\/10\/05\/democrats-abortion-midterms\/\">abortion<\/a>, an issue on which polling indicates they enjoy greater support than the economy. But Biden himself pivoted hard over the last week toward economic issues. Delivering to the Democratic faithful his &#8220;closing argument about what we need to do &#8230; to make a victory assured,&#8221; the president framed the election as a stark choice between two different visions for the country.<\/p>\n<p>&#8220;Democrats are building a better America for everyone with an economy that grows from the bottom up and the middle out, where everyone does well,&#8221; Biden <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/10\/24\/remarks-by-president-biden-at-a-democratic-national-committee-event-2\/\">said<\/a> at a Democratic National Committee event on Monday. &#8220;Republicans are doubling down on their mega MAGA trickle-down economics that benefits the very wealthy. It failed their country before and will fail it again if they win.&#8221;<\/p>\n<p>Biden <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/10\/26\/remarks-by-president-biden-on-protecting-american-consumers-from-junk-fees\/\">echoed<\/a> this <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/10\/26\/remarks-by-president-biden-at-a-virtual-fundraiser-with-nevada-congressional-delegation\/\">message<\/a> at several <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/10\/26\/remarks-by-president-biden-at-a-virtual-fundraiser-with-congresswoman-cindy-axne\/\">fundraisers<\/a> and other events this week, <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/10\/27\/remarks-by-president-biden-at-a-virtual-fundraiser-with-congressman-cartwright\/\">arguing<\/a> his policies have put the economy in a good place.<\/p>\n<p>&#8220;Economic growth is up, the price of inflation is down, real incomes are up, and the price of gas is down,&#8221; Biden <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/10\/27\/remarks-by-president-biden-on-microns-plan-to-invest-in-chips-manufacturing\/\">said<\/a> Thursday in Syracuse, N.Y. &#8220;The American people are seeing the benefits of this economy that works for them.&#8221;<\/p>\n<p>Biden especially touted the Inflation Reduction Act, the massive Democrat spending and tax bill he signed into law in August, despite experts <a href=\"https:\/\/justthenews.com\/nation\/economy\/when-will-inflation-reduction-act-start-reducing-inflation-dont-hold-your-breath\">concluding<\/a> the legislation won&#8217;t actually reduce inflation.<\/p>\n<p>Still, Biden <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/10\/27\/congressional-republicans-five-part-plan-to-increase-inflation-and-costs-for-american-families\/\">attacked<\/a> Republicans for wanting to repeal the legislative package, <a href=\"https:\/\/twitter.com\/POTUS\/status\/1585791050379034624\">describing<\/a> their economic proposals as &#8220;reckless&#8221; for allegedly adding to the deficit and providing tax cuts to the wealthy.<\/p>\n<p>&#8220;I would argue it&#8217;s reckless and irresponsible, and it will make inflation worse if they succeed,&#8221; said Biden, who added his economic plan is a &#8220;fundamental shift&#8221; that&#8217;s &#8220;working compared to what the very conservative Republicans are offering these days.&#8221;<\/p>\n<p>Voters seem to disagree, however.<\/p>\n<p>Recent polling continues to show voters prefer Republicans over Democrats by double-digit margins to handle inflation and the economy.<\/p>\n<p>A new ABC News\/Ipsos <a href=\"https:\/\/abcnews.go.com\/US\/gop-opens-edge-economy-crime-ahead-midterms-poll\/story?id=91919888&#038;cid=social_twitter_tw\">poll<\/a>, for example, found 36% of Americans trust the GOP to address inflation compared to 21% who trust Democrats. On the economy more broadly, 36% trust Republicans to do a better job, while 24% trust Democrats.<\/p>\n<p>Meanwhile, the latest CNBC All-America Economic <a href=\"https:\/\/www.cnbc.com\/2022\/10\/20\/gop-holds-big-leads-on-key-economic-issues-ahead-of-the-november-elections-cnbc-survey-shows.html\">survey<\/a> showed 42% of Americans believe the Republican Party would do a better job at bringing down inflation, while only 27% think Democrats are the best party to do so. Republicans also had a double-digit lead on &#8220;creating jobs,&#8221; &#8220;dealing with taxes,&#8221; and &#8220;reducing the federal deficit,&#8221; but slightly trailed Democrats when it came to &#8220;looking out for the middle class.&#8221;<\/p>\n<p>Voters also picked the GOP over Democrats by a comfortable margin to handle inflation and the economy in a recent Politico\/Morning Consult <a href=\"https:\/\/www.politico.com\/f\/?id=00000183-ee9a-d578-a59f-febf3a950000&#038;nname=playbook&#038;nid=0000014f-1646-d88f-a1cf-5f46b7bd0000&#038;nrid=d2fc75da-8760-41da-a500-a8101b2309d5&#038;nlid=630318\">poll<\/a>.<\/p>\n<p>These results build on polling over the last several months that&#8217;s consistently <a href=\"https:\/\/justthenews.com\/politics-policy\/elections\/dems-under-water-top-two-voter-issues-heading-midterms\">shown<\/a> voters trust Republicans more than Democrats to handle inflation and the economy, that these are the <a href=\"https:\/\/www.monmouth.edu\/polling-institute\/reports\/monmouthpoll_us_102022\/\">top issues<\/a> for voters, and that a majority of Americans disapprove of Biden&#8217;s handling of each.<\/p>\n<p>Beyond polling, the latest economic news also doesn&#8217;t bode well for Biden and the Democrats.<\/p>\n<p>The Personal Consumption Expenditures Index (PCE), which measures prices paid by consumers for goods and services and is closely watched by the Federal Reserve, jumped 0.3% compared to last month and 6.2% for the year through September, according to the latest report <a href=\"https:\/\/www.bea.gov\/news\/2022\/personal-income-and-outlays-september-2022\">released<\/a> Friday by the Commerce Department.<\/p>\n<p>After taking out food and energy, which can be volatile from month to month, the PCE increased by 5.1% over the past year, higher than the August rate of 4.9%.<\/p>\n<p>Separately, the Labor Department on Friday released its <a href=\"https:\/\/www.bls.gov\/eci\/\">Employment Cost Index<\/a>, which showed wages and salaries for workers increased by 1.3% in the third quarter and 5.1% over the year ending in September. Higher wages can contribute to inflationary pressures by increasing consumer demand.<\/p>\n<p>However, the spikes didn&#8217;t keep up with the rate of inflation \u2014 real wages and salaries adjusted for inflation have declined by 3% over the year ending in September.<\/p>\n<p>The result is rising prices and less take-home pay for Americans when accounting for those prices.<\/p>\n<p>&#8220;&#8216;Borrowed time&#8217; is how I would describe the consumer right now,&#8221; Tim Quinlan, a senior economist at Wells Fargo, <a href=\"https:\/\/www.nytimes.com\/2022\/10\/27\/business\/economy\/us-economy-gdp.html\">told<\/a> the New York Times. &#8220;Credit card borrowing is up, saving is down, our costs are rising faster than our paychecks are.&#8221;<\/p>\n<p>Meanwhile, government <a href=\"https:\/\/www.bea.gov\/data\/gdp\/gross-domestic-product\">data<\/a> released Thursday showed the economy grew 2.6% in the third quarter after two straight quarters of decline. Biden was quick to tout the news as a sign of his economic agenda&#8217;s success.<\/p>\n<p>&#8220;For months, doomsayers have been arguing that the U.S. economy is in a recession and congressional Republicans have been rooting for a downturn,&#8221; he said in a <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/10\/27\/statement-by-president-biden-on-third-quarter-gdp-report\/\">statement<\/a>. &#8220;But today we got further evidence that our economic recovery is continuing to power forward.&#8221;<\/p>\n<p>However, economists are expressing a gloomier forecast of the state of the economy.<\/p>\n<p>&#8220;Ignore the headline number \u2014 growth rates are slowing,&#8221; Michael Gapen, the chief U.S. economist for Bank of America, told the Times. &#8220;It wouldn&#8217;t take much further slowing from here to tip the economy into a recession.&#8221;<\/p>\n<p>Others expressed similar concerns that a slowdown is coming.<\/p>\n<p>&#8220;Going forward, growth could well turn negative in the fourth quarter and will likely be very weak over the next year,&#8221; David Kelly, chief global strategist at JPMorgan Asset Management, wrote this week. &#8220;There is more braking power being inflicted on the U.S. economy than will be at all apparent in the third-quarter GDP report.&#8221;<\/p>\n<p>Meanwhile, the two most basic costs of living \u2014 food and shelter \u2014 <a href=\"https:\/\/www.reuters.com\/markets\/us\/us-consumer-prices-increase-more-than-expected-september-weekly-jobless-claims-2022-10-13\/\">continue to rise<\/a> as multiple recent studies have <a href=\"https:\/\/justthenews.com\/nation\/economy\/americans-feeling-pain-housing-crisis-under-biden-economy\">found<\/a>\u00a0inflation will cost families thousands of dollars this year.<\/p>\n<p>Against this economic backdrop, midterm election predictions are looking good for Republicans, with most pollsters predicting a GOP red wave in the House and a good chance of a GOP majority in the Senate.<\/p>\n<p>One political forecaster, however, that wasn&#8217;t necessarily predicting a Republican majority in the House was Sabato&#8217;s Crystal Ball, a project of the University of Virginia&#8217;s Center for Politics \u2014 until now. This week, the election handicapper for the first time rated 218 House races \u2014 the magic number needed for a majority \u2014 as safe, likely, or leaning Republican.<\/p>\n<p>&#8220;After these changes, 218 seats at least Lean Republican, while 195 at least Lean Democratic, and there are 22 Toss-ups. Splitting the Toss-ups evenly, 11-11, would give Republicans 229 seats, or a net gain of 16,&#8221; Kyle Kondik <a href=\"https:\/\/centerforpolitics.org\/crystalball\/articles\/the-house-gop-hits-218-in-ratings-as-battle-rages-across-big-playing-field\/\">wrote<\/a> this week. &#8220;We suspect the Republicans will do better than just a split in the Toss-ups, so our updated forecast is a GOP gain in the high teens or low 20s.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Voters continue to trust Republicans more than Democrats to handle economic issues, according to recent polling, despite President Biden warning, in what he dubbed his &#8220;closing argument&#8221; ahead of the<\/p>\n","protected":false},"author":1,"featured_media":1716136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1716133","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1716133","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1716133"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1716133\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1716136"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1716133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1716133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1716133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}