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Soaring Inflation Poses Big Political Risk for Biden

Will this presidential election be the most important in American history?

Soaring inflation poses a big political risk for President Biden.

The latest inflation numbers from June showed a 5.4 percent jump in prices.

New York Post put the number in context reporting:

“That’s the same as June’s 5.4 percent year-over-year rise in prices, which marked the biggest 12-month rise since August 2008, just before the financial crisis sent the US into the worst recession it had seen since the Great Depression.”

A Fox News poll found inflation is at the top of the list of concerns expressed by registered voters.

Most concerning for Biden is the Fox News poll found 79 percent feel government policies are responsible for the rise in inflation.

Watch Fox Business video:

A Newsmax graphic showed the rise in inflation over the past year.

Inflation is becoming a political problem for Biden as it is complicating his overall support and is also threatening his agenda.

For example, Senator Joe Manchin (D-WA) expressed caution about backing the Democrat $3.5 trillion spending plan.

Manchin issued a statement:

The Examiner reports on Biden’s comments about inflation during a recent speech.

Biden conceded Wednesday during an economic speech that middle-class families were “feeling the pinch.” But he painted a rosier picture of the problem before contending his infrastructure frameworks would provide struggling families with more “breathing room.”

“If your primary concern right now is the cost of living, you should support this plan, not oppose it,” he said from the White House.

Former President Trump jumped on a series of Biden’s failures including inflation in a statement.

“Tragic mess in Afghanistan, a completely open and broken Border, crime at record levels, oil prices through the roof, inflation rising, and taken advantage of by the entire world—DO YOU MISS ME YET?”

Suddenly, a number of policy issues are adversely impacting Biden and inflation is at the top of the list and that’s not surprising.

After all, of all the issues, inflation directly affects Americans on a daily basis when they fill up their car with gasoline and shop at supermarkets.

Tom Borelli

Dr. Tom Borelli is a Newsmax TV contributor and radio commentator addressing political issues from a conservative grassroots perspective. As a columnist, he has written for The Washington Times and authored articles for Newsmax Magazine, Newsmax Insider and previously was a co-host with his wife Deneen Borelli on the SiriusXM Patriot channel. Dr. Borelli appeared on numerous television programs, including the highly ranked Fox News Channel’s “The O’Reilly Factor,” “Hannity,” “The Kelly File," and "America’s News Headquarters." He has also appeared on Fox Business Network’s “Making Money with Charles Payne” and “After the Bell” as well as TheBlaze TV’s "The Glenn Beck Program" and "Dana!" Prior to working for public policy organizations, Dr. Borelli was a managing partner with the investment advisory firm of Action Fund Management, LLC and a portfolio manager for the Free Enterprise Action Fund (FEAF) where he used shareholder activism to challenge corporations that sought to profit from the growth of government. During his 25 years with the Altria Group, Inc., he built a foundation in public policy and issues management, drawing from diverse experiences ranging from basic research to corporate affairs. Dr. Borelli served as science fellow for the U.S. House of Representatives' Committee on Science, Space, and Technology during the 100th Congress. Dr. Borelli has also published scientific papers on interferon and human leukemia.

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