Why Biden won’t be reelected
People vote with their wallets, and their wallets are getting very thin. Respondents told a New York Federal Reserve “Survey of Consumer Expectations” that their finances are worse now than they were a year ago. According to the released Monday, the perceived chance of um debt payment in the next three months increased by 0.4 percentage points to 11.
And it gets worse. Some 70% of Americans are using their savings to cover rising prices, a recent Forbes Advisor survey of 2,000 U.S. adults concluded. Among those polled, older adults were likelier to say they had left their savings intact.
Americans have built up savings during the pandemic, helped by COVID-related government benefits, but those savings appear to be running low as people cope with rising prices.
Today the FED took a drastic step and raised interest rates by a considerable margin. This is going to kill the hot housing market and force sellers to drastically lower prices if they want to sell their homes. For consumers, it means higher credit card interest rates and payments where less will go to debt.
I voted for Biden, and though he’s done an excellent job. Shoddy withdrawal from Afghanistan and the last Federal stimulus that wasn’t needed, and his age will be significant strikes against him.
The Democrats need someone who can fight Republicans on their terms — someone with vigor who can relate to both young and older voters.
You’re probably saying, “how in the hell can anyone vote for a Republican?”. But millions of people believe the Republicans will restore the economy even though their “trickle-down” economics has never worked.
Biden would do the party and country well by saying he won’t run again. It’s been a great run but let’s get someone who can sucker punch the Republicans and remind the public that they have continually put party above country.