For Democrats trying to defend the White House and Senate majority, Democratic Sen. Bob Casey of Pennsylvania is emerging as the tip of the spear in trying to reframe the election-year narrative around inflation. It's a key soft spot in 2024 for Democrats and President Joe Biden.
Sen. Bob Casey, D-Pa., listens to a speaker during an event at AFSCME Council 13 offices, March 14, 2024, in Harrisburg, Pa. For Democrats trying to defend the White House and Senate majority, Casey is emerging as the tip of the spear in trying to reframe the election-year narrative around inflation, a key soft spot in 2024 for Democrats on the all-important voter issue of the economy. Republican David McCormick, a candidate for U.S.
Casey, running for a fourth term, argues that consumer prices are high primarily because of greedflation, a term coined to target corporate profiteering at shoppers’ expense under the cover of inflation.
“This greedflation-shrinkflation thing is trying to distract the conversation about what really happened,” McCormick said in an interview.Instead, they tend to list many forces that played a role in global inflation during and after the COVID-19 pandemic, including pandemic-fueled supply-chain shortages worldwide, a strong labor market pushing up wages and Russia’s attack on Ukraine creating energy and food bottlenecks.But the U.S.
“A lot of these companies said, ‘Oh, well, consumers can just decide not to buy a certain product,’” Casey said in an interview. “It’s like when you go to the grocery store, you got to get food every week. You got to get household items every week or every other week. You don’t have the choice to, you know, defer purchases for six months. It’s not like buying a new television set.
In one common refrain, Casey asserts that inflation rose by 14% from July 2020 through July 2022, while corporate profits rose by 75% — five times faster. Using federal data, Casey projects that roughly $3,200 of the nearly $5,600 more spent by the average American family in 2021 is due to “corporate profit-taking.”
Focusing on corporate profitability is “glib,” Rahman said. “It’s a little bit easy. It resonates during political cycles.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pennsylvania police slam longtime Dem Sen. Casey 'aligning' himself with defund the police group: 'Dangerous'Pennsylvania police officials railed against Sen. Bob Casey 'aligning' himself with Indivisible Philadelphia, a group that has promoted defund the police policies.
Read more »
Here Are 2024's Most Contested Senate Races—From Arizona To PennsylvaniaI cover national politics, with a focus on elections and the White House. Prior to joining Forbes, I wrote about New York politics for City & State magazine and The New York Post. I am based in New York City.
Read more »
Here Are 2024's Most Contested Senate Races—From Arizona To PennsylvaniaI cover national politics, with a focus on elections and the White House. Prior to joining Forbes, I wrote about New York politics for City & State magazine and The New York Post. I am based in New York City.
Read more »
If Democrats Want to Win an Alabama Senate Seat, It’s Clear Whom They Should RecruitNew polling proves that no Dem in the state has a better shot than the obvious choice.
Read more »
Trump and Democrats Are Pulling for the Same Troubled Candidate in Ohio’s GOP Senate PrimaryAhead of the state’s primary Tuesday, “America First” candidate Bernie Moreno has received a groundswell of support from the former president and a Democratic Party-aligned PAC, with the latter considering him the weakest Republican in the race.
Read more »