Washington, D.C. - In a recently uncovered newspaper ad from October 1978, then-Senator Joe Biden described inflation as, "ripping into the fabric of American society." Â As part of his effort to separate from President Jimmy Carter's economic failures during his own re-election bid as Delaware's U.S. Senator, Biden notes how he worked to ensure energy rates were not raised on Delaware ratepayers. In contrast, electric rates in the United States increased 13 percent from 2021 to 2022, according to Biden's own Administration.
"Almost four decades ago, Joe Biden suggested that White House policies were linked to inflation, but now that opinion seems to have joined the long and growing list of items that have slipped his mind," said Daniel Turner, Founder and Executive Director for Power The Future. "Joe Biden worked to separate himself from President Carter to save his political future, but he won't be able to separate himself from his own failed energy record. Energy is on the ballot in 2024, and that's a problem for Joe Biden because energy and inflation are inextricably linked."
The inflation rate when Biden ran his ad was 8.9 percent which is slightly lower than 9.1 recorded during his first term as President. The average inflation rate for 1978 was 7.6 percent which is less than the average rate of 8 percent in 2022.
Power The Future is a 501c4 non-profit dedicated to fighting for American energy workers.
