'In politics, the most simple argument usually resonates. That's why it's a long shot that voters will give Biden a pass on high gas prices, even if they support punishing Putin now' | Analysis by Stephen Collinson
A staggering surge in the elevated cost of filling up since Russia invaded Ukraine represents another gut punch for consumers already swamped by a 40-year peak in inflation coming out of the pandemic.And Biden acknowledged on Tuesday there is more pain to come, telling reporters his executive order banning imports of Russian energy signed Tuesday will heap more pain on gasoline prices ahead of spring break and summer vacation.
High gas prices are especially punishing for working Americans living paycheck to paycheck or for those who have to drive long distances to work or school. Those costs may be amplified as Americans look to visit family or go on vacation with much of the country finally emerging from the pandemic. So Biden also used his speech to deliver a warning to another unpopular target: oil and gas corporations."We understand Putin's war against the people of Ukraine is causing prices to rise.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
House Democrats to vote to nix Russian oil imports even though Biden has already done soHouse Democrats will move forward with bipartisan legislation to ban Russian energy imports as soon as Tuesday, despite President Biden already announcing a nearly identical embargo.
Read more »
As President Biden proposed, Medicare needs the ability to negotiate drug pricesEven at a “reduced price” of $28,200, Medicare beneficiaries would pay $5,640 for one year’s supply of Aduhelm, a drug that treats Alzheimer’s.
Read more »
Why SCOTUS’ Decision on the Boston Bomber is a Test for President BidenThe real test of commitment to ending the death penalty comes when the crimes are most gruesome and the defendant the least sympathetic.
Read more »
President Biden delivered a fine SOTU, but he offered some not-fine proposalsTaking credit for the sun rising in the east is not uncommon for presidential speeches.
Read more »
President Biden to issue cryptocurrency executive order: AP sourcesPresident Joe Biden is expected to sign an executive order on cryptocurrency this week that will mark the first step toward regulating how digital currency is traded.
Read more »