Inflation pain means Biden gets no credit for roaring economy

Inflation pain means Biden gets no credit for roaring economy

Bloomberg: Karen Downing, a US Navy retiree living on Virginia’s Eastern Shore, voted for Joe Biden in November 2020 — expecting the new president to end the Covid-19 crisis and then pivot to tackling broader and long-standing social ills, like alleviating student-loan debt and increasing access to mental-health services.

Downing, 58, says she figured that Biden’s presidency would be “an uphill battle on how to bring the country together, knowing that change takes time.” She was a huge supporter of his sweeping Build Back Better social-spending package, believing it would address entrenched socioeconomic problems.

But the precipitous rise in inflation to the highest rates in four decades — even before the Russia-Ukraine crisis, which risks further boosting energy costs — has taken her aback. She found herself earlier this month worrying how a family-pack of chicken wings before the Super Bowl became so costly.