There is a reason President Joe Biden has gone from describing inflation as “transitory” to listing it as his “top domestic priority.” The last time inflation, now running at a 41-year high, was this bad, rising consumer prices helped make the Democrat in the White House a one-term president. Republicans won the next three presidential elections.
Biden would like to avoid this fate. It may be too late for the narrow Democratic congressional majorities, especially in the House. Already disfavored due to recent history and redistricting, inflation appears to be the issue most likely to fuel a red wave in November.
A June NewsNation/Decision Desk poll found that 76% of registered voters were very concerned about inflation, with another 21% somewhat concerned. Just 2.4% were not too concerned, with a minuscule 0.3% not concerned at all. Nearly 72% viewed inflation as the biggest problem facing the country, almost 62 percentage points ahead of COVID-19.