Friday, October 21, 2022

It's the inflation, stupid

"Inflation is a priority that government and central banks are expected to tackle."   

Summary of 11-country poll by Global Progress/YouGov


The ground is shifting politically. It is bad for Democrats. 

The election may be a referendum on inflation. Not Trump. Not abortion. Not overthrowing elections. Americans know that our democracy is at risk, but they just don't care all that much. It isn't a priority. Nor is abortion. 

New York Times
That was the conclusion of the New York Times/Siena College poll released this week. It dovetailed with the results of the international poll released in September. Many candidates who adopted full-on election denial positions to win their GOP primaries are still strong candidates in the general election. 

Inflation hurts incumbents in all the Western democracies. It isn't special to Biden or to U.S. Democrats. The graph below is for 11 different democracies. The blue area, averaging about 10%, are people who think that inflation is bad, but there isn't much governments can do about it. The red area, about 60%, are people who think a competent government could solve it, but people have little confidence in their government. The yellow area, about 20%, are people who do have confidence their government can solve it. The green, about 10%, are people who say they don't know. Red dominates.


Here is the U.S. band, shown on its own: 59% lack confidence that our government can do what it should be able to do.


Briefly, abortion looked like a silver bullet for Democrats. That may be a misfire. The Dobbs decision and Republican legislatures implementing total bans on abortion were presumed to energize young voters. The ballot issue in Kansas sent a misleading signal. It was a single up-or-down vote on the topic, not a vote on the salience of abortion as an issue.

Polling and on-the-ground behavior in Texas send up a warning to Democrats.
Texas Tribune

The left-leaning Texas Tribune quotes a participant in a 
poorly attended pro-choice rally in Fort Worth, Texas:
 I just don’t think people understand that women are going to die. I don’t think people understand the urgency of the issue.

Abortion bans are law in Texas. The article cites polls that show that 80% of Texas voters think the Texas law goes too far. The Texas Tribune reports it is the ninth most important issue to Texas voters. Election denial isn't a deal-killer either. Abbott refused to acknowledge Biden's 2020 victory after the election. This year he has been campaigned with Trump in Texas and joined Trump in saying fraud took place. A Democratic candidate for governor, Beto O'Rourke gives Texas voters a clear choice on abortion and election denial. He currently lags Abbott by five to 11 points.

I may be wrong and out of touch. I thought that overthrowing elections and total abortion bans would be over-riding issues in the general election. Surely Americans who stand for the Star Spangled Banner won't support candidates who tolerate overthrowing a presidential election. Surely a total abortion ban goes too far. Most people agree with me on those issues. My error is thinking that those issues are the important ones.

Incumbent governments in Western democracies are being replaced. We are in an era of political turmoil, most vividly in the U.K. Democracy and abortion are abstractions. The price of food and gasoline are practical realities.

Republicans in America have no different or better solution to inflation than do Democrats. Cut military spending? Cut Social Security and Medicare? Let in more immigrants so they can bring down the cost of agricultural labor?  Raise taxes to reduce net demand? Fat chance. But that is no matter. If voters think the current government is incompetent to deal with inflation, they will change leadership.


[Note: To get daily home delivery of this blog go to https://petersage.substack.com Subscribe. The blog is free and always will be.]




5 comments:

Low Dudgeon said...

The Times headline is a snarky gloss (it's "Siena", btw). It's not that most Americans don't care if democracy is in peril. They just don't believe it really is, or was. Neither is election-denial--from either side of the aisle, two years ago or twenty--tantamount to the end or likely end of our democracy.

Agreed that Republican leaders haven't got a serious plan right now to combat rampant world inflation. However, they did not wallow in denial about inflation as did Jerome Powell, Janet Yellin and the Biden administration; nor did they support reckless spending measures which predictably exacerbated the problem.

The current government is considered incompetent across the board, but most glaringly to recognize kitchen-sink priorities.

Curt said...

I always think about January 6th whenever I go to the gas station and pay $5 per gallon for gas. (Not really).

I always think about abortion when I go to the grocery store and my bill is $40 more than it was 2 years ago. (Not really). Everything costs more.

Democrats were delusional (and grossly incompetent) if they didn't know that inflation would explode as a result of their reckless social spending programs. Very few Biden government officials have any private-industry experience, and it shows.

The question now is not if Democrats will get beat in November. The question now is how bad the beating is going to be.

For sure Joe Biden will get impeached and convicted numerous times for criminal acts starting next February. Then the House and Senate will impeach and convict Kamala Harris. This is going to make Watergate look like kid's play.

Mike said...

It’s sad but true that most voters probably care more about getting cheap gas than having a republic. Sure, Republicans are totally complicit in an attempted overthrow of the government, but at least they weren’t in power when filling my RV became so costly.

Brian1 said...

I think you are missing something, Peter, at least in this post. Trump campaigned heavily that if Democrats take control we'd have high inflation, a recession, we'd be drug into a war, etc. Trump is not psychic, he may very well have known this was coming no matter what. Democrats, however, are and were so anti-Trump that they didn't play the game and let him take the fall for this correction. He needed to go at all costs. We are about to realize that cost.

Now the average voter can't help but wonder why the current White House has denied any of this was going to happen for month after month. Media said it was overblown and not happening. Analysts said this was good and normal and everything would be fine. Yet you have manufacturing workers making McDonald's wages. You have out of control homelessness and poverty, all while inviting more into our wonderful welfare-backed cornucopia because, as Democrats keep telling us, it's good for us in the long run.

Free housing for migrants, not for Americans. Face it: we haven't been good for us.

The internet is teaching humans how to recognize spin with exceeding acuity. American skin is thickening against vehemence and outrage. All the Trump hate is losing appeal, all the deflection is losing crowds. Right now the Republicans look pretty honest compared to what Democrats have been selling.

Michael Trigoboff said...

You have out of control homelessness and poverty, all while inviting more into our wonderful welfare-backed cornucopia because, as Democrats keep telling us, it's good for us in the long run.

A quite accurate description of the current mess that is Portland…