GOP congressional fundraising rises as Americans blame Democrats for inflation
National Republican Congressional Committee touted its third consecutive month of record-breaking fundraising. The group ended last month with $42.1 million cash on hand, twice what they had at the same time in the last cycle.
A small majority of Americans blame Democrats for the rising inflation, a recent poll found, as both parties fight to position themselves in the economic messaging battle heading into the next election.
The Trafalgar Group along with the Convention of States for Action released the poll Tuesday, which found that 39% of Americans “blame President Biden for rising inflation” and another 14.4% blame the current Democrat-led Congress.
Though President Donald Trump is only a few months out of office, only 17.7% of voters say he is to blame. A smaller percentage credits the previous Congress and 17.9% don’t know who to blame.
The poll came out the same day that new data from the Bureau of Labor statistics reported that the price of producer goods has spiked, a key indicator of inflation. According to BLS, producer goods rose 6.6% for the 12 months ending in May, “the largest increase since 12-month data were first calculated in November 2010.”
That comes just days after BLS reported a major increase in consumer prices, another inflation marker.
“Over the last 12 months, the all items index increased 5.0 percent before seasonal adjustment; this was the largest 12-month increase since a 5.4-percent increase for the period ending August 2008,” BLS said earlier this month. “The all items index rose 5.0 percent for the 12 months ending May; it has been trending up every month since January, when the 12-month change was 1.4 percent. The index for all items less food and energy rose 3.8 percent over the last 12-months, the largest 12-month increase since the period ending June 1992. The energy index rose 28.5 percent over the last 12-months, and the food index increased 2.2 percent.”
Jobs numbers have also been disappointing. In May, the federal government reported the economy had created little over a quarter of the projected new jobs, far short of expectations. This month, the economy did better but still fell short of predictions.
Biden has stayed positive on the economy, but Republicans have been quick to point to these poor economic indicators in campaign messaging and fundraising. The latest figures suggest it could be working to their advantage.
“Today, you’re paying more for a cup of coffee, your morning breakfast, refueling at the pump,” said House Republican Leader Kevin McCarthy, R-Calif. “Inflation is a tax on all Americans – and it’s directly caused by President Biden’s disastrous policies.”
The economic messaging has paid off in fundraising for the party. The National Republican Congressional Committee touted its third consecutive month of record-breaking fundraising. The group ended last month with $42.1 million cash on hand, twice what they had at the same time in the last cycle.
“Americans are ready to do whatever is necessary to stop Nancy Pelosi and House Democrats’ socialist agenda,” NRCC Chairman Tom Emmer said. “May’s record-breaking fundraising numbers are just the latest indication that House Republicans are primed to retake the majority.”
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