The handoff to President Trump’s second term includes a dismal Bidenomics inheritance of slowing growth, rising inflation, and a frustrated citizenry, especially for households of modest means.
As part of Biden’s awful “curtain call,” the last inflation report of his presidency came in this week – and it was scorching, described by Reuters: “ Hotter January Inflation Jolts Markets.” Similarly, the Wall Street Journal headline reported that "Inflation Heated Up in January…as the fight against inflation continues to face headwinds.”
This awful “goodbye kiss” from Biden only adds to widespread disapproval of his job performance, especially regarding the economy. For example, as Biden left office, by a nearly 2/1 margin, Americans with middle class incomes ($50-75,000 annually) reported that Biden’s economic policies were “hurting” rather than “helping their families, 57-31%. That finding was part of a national poll commissioned by my League of American Workers and conducted by respected firm TIPP Insights just before Biden left in disrepute. The poll used a sample universe equally split between Trump and Kamala Harris voters.
Regarding polling, CBS News just published a survey that was overall outstanding for President Trump. For instance, by a 70/30% margin, voters nationwide say that Trump is “doing what he promised on the campaign.” On his signature issue of immigration enforcement, by a +18% margin, Americans also support mass deportations, 59-41%.
But the CBS poll also included a potential warning sign for all national Republican officeholders. The network asked about “Trump’s focus on lowering prices”…and 66% said he is doing “not enough.”
As impressive as Trump’s momentum is right now, this issue presents the biggest potential risks for the administration and for the GOP majorities on the Hill.
It is vital that we populists detail the horrible and lingering legacy of Bidenomics. But we must also realize the gravity of the situation. Before long, if inflation persists, voters will stop blaming Joe Biden, because they understandably demand constructive action on prices, and they demand it right now.
In this regard, many GOP leaders in the Congress simply do not yet embrace the sense of urgency that this moment requires.
For instance, House Appropriation Chairman Tom Cole (R – OK) said that the appetite was “growing” for a stopgap funding bill, a CR Continuing Resolution to fund the government at current Biden levels through at least the Fall. Cole claims: “I would say that there’s a significant portion of our Congress that would rather us just CR until we get Trump’s stuff.” Similarly, on the Senate side, establishment dinosaur Lindsey Graham actually proposes a budget that raises Defense spending by a whopping $150 billion.
Memo to both the fine gentleman from Oklahoma and the esteemed gentleman from South Carolina: read the national room!
Americans have had it with inflation that’s been fueled by exactly this kind of tawdry insider Washington chicanery. If these charlatans on Capitol Hill pursue a “business as usual” agenda and kick the fiscal can down the road, sending America even deeper into debt, with spiraling inflation and interest rates, then the voters will quickly turn against them and against the White House.
We are spending $100 Billion every single month just to service our existing debt , and we are adding $1 Trillion in new debt every 100 days. This destructive fiscal cycle devolves into an economic road to perdition.
Unless we arrest the Biden trajectory of stifling inflation, with immediate urgency, then the current political momentum will dissipate. Speaking of a troubling trajectory, see this chart of the CRB Commodities Index since Biden first took office:
When it comes to markets, price is truth. Clearly, financial markets sound the alarm, especially Commodity and Bond markets. As polling proves, Americans demand action, and deserve swift reform. President Trump is up to the task…but every Republican in Washington needs to get deadly serious about this dire necessity.
Steve Cortes is former senior advisor to President Trump and JD Vance, former commentator for Fox News and CNN, and president of the League of American Workers, a populist right pro-laborer advocacy group.
TIPP Picks
Selected articles from tippinsights.com And More
Trump 2.0
1. Thinker, Tinker, Fighter, King —Trump’s Second Term Redefines Power And Dominance—Rajkamal Rao, TIPP Insights
2. Leavitt Slams ‘Judicial Activists’ For Injunctions Against Trump—Elizabeth Troutman Mitchell, The Daily Signal
3. Here’s Why A Judge Can’t Block Trump’s Pause On Spending—John G. Malcolm, Paul J. Larkin & GianCarlo Canaparo, The Daily Signal
4. DHS ‘Clawed Back’ $59 Million FEMA Allocated To House Illegal Aliens—Virginia Allen, The Daily Signal
5. Elon Musk and DOGE Are Uncovering Insane Corruption, "What They Found So Far Is Very Enlightening" —Joe Rogan, The Joe Rogan Experience
6. House DOGE Panel Fires Its First Salvo In ‘War On Waste’—George Caldwell, The Daily Signal
7. President Trump, Master Of Incendiary Common Sense ’—David Marcus, Fox News
Foreign Affairs
8. Trump Administration ‘Committed To A Peace Deal’ In Ukraine, Says Leavitt—Bradley Devlin, The Daily Signal
9. The Era Of ‘Standing’ With Foreign Nations Must End—Chris Rossini, Ron Paul Institute for Peace and Prosperity
10. Foreign Aid Agencies Awarded $27 Million To Group Helping Leftist Protesters Avoid Jail—Hudson Crozier, DCNF
11. J.D. Vance’s Munich Wake-Up Call: Democracy, Censorship, and the Will of the People—Roger Kimball, American Greatness
Politics
12. Please, Democrats, Keep Losing Elections—Sasha Stone, Substack
13. Here’s Why The Left Can’t Quit The Deep State—Jarrett Stepman, The Daily Signal
14. Ernst Seeks To Crack Down On Government Employees Doing Union Activities During Work Hours—Fred Lucas, The Daily Signal
15. Trump Should Reinstate Obama’s Moratorium On Risky Biological Research—Robert Moffit & Robert Redfield, The Daily Signal
16. How The Justice Department Conspired To Legalize Racist Hiring In Cobb County, Georgia, Before Trump Came In—Hans von Spakovsky, The Daily Signal
17. The Myth Of Emergency Powers—Andrew P. Napolitano, Ron Paul Institute for Peace and Prosperity
18. Pam Bondi Vows To Prosecute FBI agents, Government Officials Who Leak Info On ICE Raids—Reagan Reese, DCNF
19. Republican Rep. Brandon Gill Starts Petition To ‘Deport’ Rep. Ilhan Omar—Timothy Sekerak, DCNF
20. Democratic Sen. Tina Smith Makes Shocking Retirement Announcement—Adam Pack, DCNF
21. Just How Deep Did Biden Administration Corruption Go?—Bradley Devlin, The Daily Signal
22. Vance Outlines An Open, Forward-Looking AI Agenda—Wesley Hodges, The Daily Signal
23. Biden Finally Did Something Right—Rep. John J. Duncan Jr., Ron Paul Institute for Peace and Prosperity
24. ‘Nowhere Near Over’: California And Minnesota Face Federal Investigation For Refusing To Implement Trump’s Ban On Men In Women’s Sports—Moira Gleason, The Daily Signal
25. The Empire Strikes Back—William L. Anderson, Mises Wire
26. Might Does Not Make Right: A Libertarian Perspective—Rowan Parchi, Mises Wire
27. Abolish US Citizenship—Ryan McMaken, Mises Wire
