Democrats who are confused about why Americans are so pessimistic about the economy should visit McDonald’s.
President Joe Biden faces many hurdles in his bid for reelection. His approval ratings are at historically low levels. His open borders policy has left many progressive mayors of self-proclaimed “sanctuary cities” begging for relief. His foreign policy missteps have led to a catastrophe in Afghanistan. His physical and mental decline is becoming increasingly apparent.
This daunting list doesn’t include one of the president’s biggest problems: Voters don’t like the current economy, especially inflation, but the president has been inconsistent in acknowledging that rising prices are a problem.
Time magazine recently published an interview with Biden in which reporters noted that cumulative inflation has increased prices by 18% since Biden took office.
“Since who took office? Since I took office?” the president asked, then said, “Wage increases are above the cost of inflation. And by inflation I mean pre-COVID-19 prices.”
“Pre-COVID prices are not the same as how American companies are now squeezing money out of the public. There’s everything from shrinkflation to the way they’re artificially raising prices dramatically to increase profits. This is not the same as inflation. This is price gouging.”
Even if you get confused trying to decipher Biden’s ramblings, his downplaying of inflation is an insult to Americans struggling to buy basic necessities at the grocery store. When times get tough, many politicians turn to rhetorical gimmicks or outright subterfuge. But Biden shows that it’s wrong to tell people what you see in front of you doesn’t actually exist.
To be sure, inflation has moderated from a high of 9%, but prices remain far higher than when the current president took office, and restaurant meals have become especially expensive.
FinanceBuzz recently looked at fast-food price increases since 2014. Wendy’s, Chick-fil-A, and Burger King are all up 55% in price. Taco Bell is up 81%. McDonald’s prices have doubled. Most of these price increases have occurred since 2019. No doubt COVID-19 is contributing to some of the higher prices, but it’s hard to miss.
A Big Mac was $3.99 in 2014; it’s $5.99 now. A pair of medium fries was $1.59 a decade ago; it’s $3.79 now. A Quarter Pounder with cheese has gone from $5.39 to $11.99. It’s no wonder so many families have concluded that fast food is a luxury. Biden’s economic optimism has not convinced them.
James Carville once quipped, “The problem is the economy, stupid,” which remains true today with a slight twist: The problem is the Big Mac, stupid.
