Coronavirus, reactivation and inflation
It was one of the campaign promises. The coronavirus It caused a crisis in the North American economy only comparable to that of the Great Depression of the 1930s. Joe biden announced a program to support individuals and companies like never before in history. After much battling with Congress – especially Republican legislators – he managed to enact a record-breaking public investment plan in history: more than 3 trillion dollars.
But the other side of that government support, With a mega-issue of dollars, it is the increase in inflation levels, something almost forgotten in the United States.
In the last 10 years, the highest inflation had been in the year 2018 with just the 2.44%. But with the resources invested to alleviate the economic crisis, Inflation climbed to 4.25% so far in 2021. To have a record like that you have to go back 33 years, in 1989 it reached 4.6%.
At the beginning of the year, linflation was not a concern for administration Biden because it was taken as the cost to pay to sustain the economic recovery. But now, the analysis is different.
2021 is ending and inflation not only does not decrease but is increasing month by month. January started with 1.40% year-on-year and for the last full month, October, on the interannual variation reaches 6.22%
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The looks then turn on the White House. Does the president’s stimulus program work or did it just bring one more complication after the pandemic, such as the return of inflation?
Joe Biden responds
The US president took two measures at the beginning of this week to defend his ideas. One on social media. He uploaded a post in which he appealed to a principle of authority (or a fallacy): “Not one, not two, not sixteen: seventeen Nobel Prize winning economists agree that my Build Back Better Law will ease long-term inflationary pressures and grow our economy. ” wrote Joe Biden.
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Two figures in descent
The fall in the image of Biden also reaches his vice, Kamala harris. There are even polls that say the situation is the other way around. When she was chosen as a vice candidate, Kamala harris brought several values to American politics: she was the first woman to become vice president (Geraldine ferraro She was a running mate of Walter mondale, but lost to Ronald Reagan in 1984).
Only after 10 months in administration, just 28% approves the performance of Kamala harris as vice president. To such an extent, that despite the falling image of Biden it is still preferable to the figure of his vice.
But own Biden it’s downhill. The first months his appreciation for the vigorous plan to increase vaccination against the COVID in the North American population. However, it has not been able to break the resistance of anti-vaccine groups or convince those who distrust the safety of these drugs against the pandemic.
USA reached 50% of the population with full doses on July 31. But since then 4 months have passed and it added less than 10%. Today it is in 58% of the population with double vaccination. The Argentina have the 62.4% and Germany, that lives a fourth wave of coronavirus has already reached the 67.4% fully vaccinated.
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In addition, if it appears as the leader of a new multilateralism in the world, it has not worked either. He paid a heavy price for the withdrawal of American troops from Afghanistan that meant the return to power of the taliban. He did not stand out for specific topics or at the recent summit of the G-20 in Rome nor in the COP26 for the weather.
In addition, the most striking in Glasgow was that he fell asleep listening to a speech and another very particular and shameful episode attributed to a moment when he was with Camilla Parker Bowles, the prince’s wife Carlos from Great Britain.
Today, his approval rating is at 47%. He lost 10 points since July. When he took office he reached a 70% approval rating.
Transitional figure … or something else?
But none of that seems to worry the man who turned 79 on Saturday. Now he announces that despite everything, he is already thinking about re-election for the year 2024. Will he face Donald Trump again?
Just in case, your health is a key element in government action and in a future electoral campaign. Last Friday, he underwent a routine video colonoscopy. After which, the White House medical team noted: “President Biden remains a healthy, vigorous man, 78 years old (he already turned 79 as we said), who is in conditions to successfully carry out his duties as agent “.
His political future depends on both: on his Health and of “successfully carry out his duties as agent.”
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Biden plans to be reelected in 2024 in the United States, how old will he be and what problems will he have to solve?