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Democrats will be crushed in midterms due to inflation


Frank Luntz, an experienced GOP pollster, strategist, says that voters are most concerned about skyrocketing inflation. Democrats are likely to be the ones to suffer.

Luntz, who is Republican, tends to criticize both sides when they aren’t on the same page about an issue.

We’re more than anxious. CNBC spoke to Luntz on Friday. Luntz stated that this country gets angry whenever they visit the supermarket or fill up their gas tank. With the Democrats’ small majority in both the House of Representatives and the Senate, “they’re going take that anger out to the ballot box in Nov.”

Luntz stated that he cannot understand why President Obama is elected. Joe BidenWhile the government is painting a positive picture of the economy, many are facing higher prices and the effects of the ongoing pandemic.

In recent polling that included the survey of 2,000 voters, Biden received poor ratings on economic performance. most recent CNBC/Change Research survey.

Luntz stated that there is a disconnect between the information they hear and their actual experiences. It’s why inflation is so crucial politically and economically. “I think that this is going have a bigger effect on the electoral outcome for November than anything like the voting rights Act or January 6. People are being affected where they live.

Luntz bases much of his analysis upon takeaways taken from focus group discussions with swing voters. For example, in the run-up to 2020’s presidential election, Luntz analyzed the takeaways from focus groups with swing voters. predictedBiden will beat the incumbent Donald Trump. However, before afterThe election was a close race. In interviews with CNBC, the pollster seemed to be quite open in his critique of Trump and Biden.

Luntz stated that “you can’t blame Republicans for high inflation.” “Squawk Box”Friday This is just something that has happened in the past year.”

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“It may not be Joe Biden’s responsibility,” Luntz acknowledged, recognizing that the dynamics causing rising prices – such as persistent easy money by the Federal Reserve spanning both Trump and Biden administrations — are more complex than the current White House’s policies alone.

But the public thinks it’s increasingly his [Biden’s] fault. Democrats are likely to suffer from that,” he said.

The White House did not respond immediately to our request for comment.

More evidence was provided this week to confirm what Americans feel in everyday life: The inflation is rampant and every item, from food to fuel to big-ticket items such as used cars, is getting more expensive.

According to the government, Thursday was December producer price indexThis was the biggest increase ever recorded, rising 9.7% annually. One day after December’s, the reading of wholesale inflation for last month was taken. consumer price indexYear-over year inflation rose by 7% which is the fastest rate since June 1982. Although both were in line with Wall Street estimates they still showed signs of inflation.

After months of claiming that inflation was temporary, the Fed recently telegraphed accelerated measures to reduce price pressures. In confirmation hearingsCapitol Hill this week and elsewhere minutes from the Fed’s December meetingCentral bank officials signaled several hikes in near-zero rates of interest this year. There was also a rapid tapering Covid-era bond purchase and talk of reducing central bank’s debt.

Luntz said the failure of Biden’s massive Build Back Better bill — at the hands of conservative Democratic West Virginia Sen. Joe Manchin — was a blessing for the economy. He said that more stimulus money would not be fuel. It would be a lubricant to greater inflation, which is precisely what people do not want at the moment.

It is impossible to spend money your way around it. To hire more people, you can spend much more. It is possible to spend more money in order to stimulate small- and medium-sized businesses or boost the economy. Luntz stated that inflation is worsened when you spend more money.