5. Inflation and Rising Prices
As Biden stood on a recently rebuilt bridge in Pittsburgh, Pennsylvania, he tried to justify his economic record and urged voters to stick with his party in next month’s midterm elections as he acknowledged how tough the current economic malaise has been for working families.
And he can point to many triumphs as through his economic agenda there have been increases in public spending along with higher tax burdens and stricter enforcement for the wealthy and large companies.
Since taking office in January 2021, the unemployment rate shot down to 3.5 percent, and his policies can boast generating 10 million jobs. Unfortunately for Biden, the public focus is squarely on out of control inflation, the highest its been since the early 1980s.
With consumer prices continuing to rise at an annual rate of 8.2 percent in September and not looking like it is going to slow down any time soon.
