According to a Quinnipiac survey Wednesday, 97% of Americans believe President Joe Biden’s 40-year inflation is either a crisis or a problem.
The survey asked respondents, “Is the rise in US prices a crisis, a problem, but not a crisis or a problem?” She asked.
While 59% described the crisis as a price increase, 38% said it was a problem. The survey showed that most people of all ages, genders and skin colors view inflation as a crisis. The only demographic majority to describe inflation as a problem rather than a crisis are Democrats (39 percent) and those with four years of college education (47 percent).
The survey also asked respondents the following questions: “To what extent do you think the president controls inflation; Is it a lot, a little, a little, or nothing?
91 percent said Biden had control over inflation. When broken down by category, 36 percent said Biden had significant control over spending increases, 33 percent said he had some, and 22 percent said he had at least some control. Only 9 percent said Biden did not control inflation.
One of the biggest factors that increase costs is fuel. Sixty-eight percent said gas prices were a minor or major issue. 55% said higher gas prices resulted in significant cost savings.
AP/Mayaman Pedronchelli’s photo
The survey included 1,524 Americans from June 17 to 20, with a margin of error of +/- 2.5 percent. This includes 1357 voters with an error of +/- 2.7 points.
The poll comes after Biden proposed a 90-day gas tax holiday in Congress. But Democratic members of Congress don’t seem particularly interested in passing the measure, citing concerns it would benefit non-consumers.
Jason Fuhrman, an economist who worked under Barack Obama and now teaches economics at Harvard, agrees that Biden’s proposed gas tax holiday will benefit oil companies, not consumers.
If supply is not very price sensitive (the situation is now), most of the benefits from tax breaks will go to suppliers. The intuition is that if it is passed on to consumers, they will want to consume more than they can consume, which will drive up prices,” he said.
Biden is trying to lower gas prices without ending America’s energy war, which includes increasing private and public spending on oil drilling, stopping drilling on public land and canceling the Keystone pipeline.
According to the Energy Information Administration (EIA), Americans will pay $450 more for gas in 2022 than last year, adjusted for inflation.
During his presidential campaign, Biden promised to “eliminate fossil fuels” by ending drilling subsidies and feasibility studies.
Biden’s approval rating has remained unchanged at 33 percent since January, according to Quinnipiac. Biden’s all-time low was 32 percent, according to a Civiqs survey.
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Source: Breitbart
