It’s a moniker about corporate price increases that has bolstered some Democratic senators, and now the president is being encouraged to lean in on the issue for his economic messaging.
  • AutoTL;DR@lemmings.worldBEnglish
    2·
    5 months ago

    This is the best summary I could come up with:

    But despite facing a tough re-election battle where economic issues will be central, Mr. Biden has not leaned into that message as frequently or naturally as some other Democrats, including senators running in competitive seats across the southwest and the industrial Midwest.

    His administration has worked to limit prices for prescription drugs like insulin and inhalers, rein in bank overdraft and credit card fees and make airline travel cheaper and more transparent, achievements that he often discusses on the campaign trail.

    But some of Mr. Biden’s progressive allies say the president has found effective — and popular — ways to talk about corporate pricing practices, including his focus on “junk fees” levied by airlines, concert promoters and more.

    Andrew Bates, a spokesman for the White House, said that “President Biden’s top priority is beating inflation, which is why he has taken historic action and continues to fight the corporate greed that is keeping prices high.”

    Few Democrats have done more to push the message that corporations are driving inflation than Mr. Casey, who is running for re-election in Pennsylvania and introduced a Senate bill that would crack down on “shrinkflation” — a term for companies reducing the size of their goods but not cutting prices.

    The progressive groups Climate Power and Future Forward USA Action have begun a $50 million ad campaign that includes one spot featuring a South Carolina family farmer accusing big oil companies of making “huge profits off us.”

    The original article contains 1,784 words, the summary contains 242 words. Saved 86%. I’m a bot and I’m open source!

  • CableMonster@lemmy.ml
    42·
    5 months ago

    Greedflation is just an excuse that they are using for failed policies. If Trump had won the election people would be correctly blaming government policy causing this, not greed that suddenly appeared from out of nowhere for no coherent reason.