Today, it’s no secret that Americans are getting crushed by inflation. This is problematic as the US dollar loses value, hence depleting hardworking people’s savings and earning potential.
Of course, what’s happening with the country’s economy largely rests at Biden’s feet. After all, it’s Biden who insisted on forcing spending bills through Congress, even when Republians warned it would have adverse impacts.
Likewise, the president continues to stand by his poor fiscal policies, while denying the negative ramifications they’re inflicting upon the American people.
Today, inflation has spiraled so far out of control that even small-donor campaign donations aren’t what they used to be, reports the Tampa Free Press.
This is Very Bad News
Both Republicans and Democrats have seen small-dollar donations to their 2024 political campaigns take serious nosedives. This proves that the issue isn’t political, but economic.
In a nutshell, Americans no longer have $20 to spare for the candidate they hope gets (or stays) in office. Because of rising inflation and other costs, people have to stretch every single penny as far as they can.
FOX's Shannon Bream schools top Biden economic advisor Jared Bernstein on "Bidenomics":
"[Inflation] is well above where we were when [Biden] got started. Prices are still up for all kinds of things. Wages have been outpaced by inflation 27 out of 30 months…" pic.twitter.com/TSk73j1x03
— RNC Research (@RNCResearch) July 23, 2023
Due to the considerable dip in small-dollar campaign donations, candidates running for office have to find new ways to stay finanically viable. Some are rallying to get more grassroots support, but it’s just not working out as it did before.
Politicians are likewise being warned not to come off as too “aggressive” when they seek funds, as this can easily backfire.
No Accountability From Biden
Unsurprisingly, both the president and his allies are still downplaying inflation and other economic hardships facing Americans. They’re still appearing on TV and trying to paint a rosy image of the economy that just isn’t accurate.
Top Biden economic advisor Jared Bernstein celebrates "inflation decelerating" and "gas prices down" under Biden.
Except year-over-year inflation remains HIGHER than any point since December 2011 — while gas prices are UP by $1.17/gallon since Biden took office. pic.twitter.com/3nozix7xOh
— RNC Research (@RNCResearch) July 17, 2023
Given where things stand today, it’s very likely that political campaign money from small-dollar donors will continue to drop off. Candidates seeking office should prepare for this accordingly.