Democrats Get Blamed As Inflation Hits 40 Year High

Things are looking worse and worse for the Democratic Party, as the latest figures show inflation hitting its highest level since January of 1982. While Democrats are not driving inflation, as the Party in power they are taking the heat for what is happening with the economy. And whether we think that is fair or not is irrelevant. To make things worse, there have been no sound ideas on how to tackle this worsening crisis. Ring of Fire's Farron Cousins discusses this.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Well, towards the end of the week, last week, we've got some horrible economic news showing that inflation has now hit its worst point since January of 1982, the early days of the Reagan administration and trickle down economics. We have not seen inflation in this country this bad since before I was born, which means this is the worst inflation that I have ever seen in my lifetime. 7.9% over the 12 month period that ended in February is where we're at right now and economic forecasters are now saying that by the end of March, it will likely hit 8.6% and that's where we are as a country right now. Credit card debt has gone up 15.7% in the last 12 months because of course, people are struggling to pay for things. And one of the biggest problems with all of this inflation for the Democrats is that they're being blamed for it.

Is it their fault? No, it's not. I don't care how many times Republicans say that it's not. If we had a Republican president right now, it wouldn't be their fault. What's happening right now is a bit of an economic phenomenon. We went through two years, we're still going through it, but we're pretending we're not anymore for some reason, a pandemic that shut things down, not just in this country, but across the globe. Globally businesses shut down. Production came to a screeching halt. And when production was at that halt, we were going through surplus supplies, right? You know, all of the stock that was out there was being bought up, bought up, bought up, getting smaller and smaller. Then as things slowly started to reopen production slowly began again. We started making things again.

But when everything suddenly came back open, when everybody decided a year after we were just done with the pandemic, demand dramatically outpaced supply, right? I mean, these are basic economic principles. Because of that prices skyrocket, right? That's where you get this hyperinflation like we see right now. On top of the hyperinflation, we also have massive price gouging happening with some of the biggest retailers here in the United States, clothing, goods and services, as well as food. So all of those things together have given us this horrible inflation that again, is being blamed on the Democrats because they're the party in charge. Is it fair? No. But that's what the public does and they're doing it because the Republicans are telling 'em to do it and the Democrats don't have a message to counter it because Democrats suck at messaging. But to be honest, even as I say they're basic economic principles, I've dumbed it down about as much as possible.

Right? To really get into it involves all kinds of things that are just incredibly difficult to explain to people in a 10 second sound bite. You can't do it. It's impossible. You can't do it in a 3o second sound bite. You can't really do it in a five minute segment. And that's why the public kind of glasses over and doesn't pay attention to these things because it is complicated. It is a difficult idea to understand and that's why the Democrats can't come up with a cogent message to remind people, hey, it ain't our fault. So they're the ones that are going to get screwed by this and that's not fair, but it is what happens in American politics. But let me throw something else out. Part of the reason we still have such a supply problem is because people tend to forget.