The Daily

Did Democrats Make Inflation Worse?

Feb 1, 2022

Ben Casselman, an economic and business reporter for The New York Times, dives into the inflation crisis that's gripping the nation, with prices spiking 7%—the fastest jump in four decades. He analyzes how the Democratic Party's policies, including the American Rescue Plan, may have worsened the situation and discusses the implications for the upcoming midterm elections. The interplay between stimulus spending and supply chain issues is explored, raising questions about political accountability amidst this economic turbulence.

26:19

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Episode guests

Ben Casselman

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Episode notes

Intro

2min

Inflation Crisis and Political Ramifications

12min

Government Spending and Inflation: An Economic Analysis

2min

Stimulus and Inflation: A Complex Interplay

10min

Overview of Political Accountability and Vaccine Approvals

2min

Inflation in the United States has been getting worse. In December, prices were up 7 percent from the previous year — the fastest rise in 40 years.

Americans feel terrible about the economy, imperiling the Democratic Party’s chances of holding on to power in Washington in this year’s midterm elections.

While disruption caused by the pandemic is a key cause of higher prices — a situation that predates the Biden administration — a question remains: How much have the Democrats’ own policies contributed to the problem?

Guest: Ben Casselman, an economic and business reporter for The New York Times.

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Background reading:

Prices in the United States are rising rapidly, wages are growing and consumers are glum as a fraught economic moment poses big challenges for policymakers.
President Biden is suffering in the polls as high inflation saps confidence in the economy, even as growth comes in strong.

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