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Democratic strategist James Carville coined the phrase: “It’s the economy, stupid!” If that expression holds true, Democrats are in for a walloping this November.
That is because, as NBC News reported over the weekend, the voter demographic groups that helped Democrats win in 2020 are being most negatively impacted by the ongoing inflation crisis.
From NBC News:
Inflation has been cited as a top concern by voters across the board, but economists and pollsters say it isn’t affecting all Americans in the same way. Those with lower incomes, Blacks and Hispanics, and those under 40, are being hit particularly hard given they tend to spend a greater share of their income on food, fuel and housing — areas that have seen some of the biggest price increases over the past year, surveys and polls show.
For Democrats, those demographic groups are the ones they need the most to turn out in November to hang on to power in Washington, or if nothing else, stem their losses.
The working and middle classes, of course, are most impacted by inflation — which decreases the purchasing power of every dollar — because they generally have less discretionary income, thus making them more susceptible to rising costs at the gas pump and grocery store.
Stephanie Lane, a mother of four from Pennsylvania, told NBC News just how bad the inflation crisis is for her family.
“It makes what I used to spend $40 on turn into $50 or $60, and then on top of it the gas, going from filling my tank for $60 to now it being $100 just to fill my tank,” she explained, describing the fight to put food on the table a “daily struggle.”
“The past few months, inflation really just pushed us over the edge,” she added.
Jeff Horwitt, a Democratic pollster, agreed the outlook is dim for Democrats.
“Particularly for voters that are critical to Democrats doing well in November — younger voters, African Americans, Hispanics — these are voters who are feeling more pain than other voters, and they’re looking for real solutions,” he told NBC News. “What’s been the through-line is economic concerns, and the Democrats have tried to address these concerns, but what voters are saying is that so far it isn’t good enough.”
A new I&I/TIPP poll showed Monday that a majority of American adults — 64% — believe President Joe Biden is “responsible” in some way for the inflation crisis.
With Biden’s approval ratings in the tank and Americans feeling pessimistic about the trajectory of the economy, Democrats will likely lose their majorities in Congress after the midterm elections.