Many people say that the President can’t control the price of gas.
But the Biden administration seems to think that recently falling gas prices will somehow boost his dismal approval ratings.
And while lower gas prices are always welcome, it could be much too late for Joe Biden to see his poll numbers improve.
Cheaper gas is good news. But it’s not enough for Biden to have bragging rights
Miraculously, gas prices have dropped for eight weeks in a row.
Although fuel might be cheaper right now, it’s still over 50% higher than when Biden was elected to office.
To put things into perspective, the national average for a gallon of gas cost just $2.39 on January 20, 2021.
As of August 11, 2022, the national average gas price still sits at a staggering $4.01 per gallon.
Sure, it’s lower than it has been for months, but it’s probably not enough to give Joe Biden an improvement in his approval ratings as Commander-in-Chief.
Americans are still struggling with everything from high grocery prices to skyrocketing housing costs.
The Biden administration is celebrating this likely short-lived victory, but let’s be real – it’s probably much too late to see the President’s approval numbers increase.
Don’t count on the good times to last
Falling gas prices are great, but the Inflation Reduction Act will increase taxes on fossil fuels, which will mean higher prices for consumers at the pump.
When gas prices rise again, which is quite likely, Biden’s approval numbers will almost certainly go back down.
The administration is also celebrating the current unemployment rate, which currently sits at 3.5 percent.
But the reality is that last month’s unemployment numbers were still higher than at any time over the past decade before the COVID-19 pandemic.
Wages might also be increasing, but they’re not enough to give Americans the positive cash flow they need to keep up with rising prices.
Joe Biden and the Democrats seem to think that the economy is gaining traction overall, but it just isn’t true.
The administration claims that new legislation aimed at increasing U.S. semiconductor production will somehow save the economy.
They also think that using your tax dollars to “help combat climate change” will bring a boon to the economy as a whole.
Raising taxes on individuals and corporations never plays out the way the government envisions.
The Inflation Reduction Act will have very little to absolutely no real positive effects on consumer inflation, regardless of the name.
Just because gasoline and some commodity prices are drifting downward, it doesn’t mean that overall inflation no longer exists.
Some analysts have even turned to Amazon’s Prime Day and its high sales numbers as a bellwether for the economy.
In the end, all of this new legislation will likely increase the burden on American households, which in turn will cause Biden’s polling numbers to tank.
Sure, we can all agree that lower gas prices are a good thing, but for Biden, this small change is much likely too little, too late.
Patriot Political will keep you up-to-date on any developments to this ongoing story.