The race for one of Pennsylvania's two seats in the U.S. Senate is shaping up, with two candidates pushing to the forefront.
Democratic Sen. Bob Casey of Pennsylvania is emerging as the tip of the spear in trying to reframe the election-year narrative around inflation.of Pennsylvania leaned into the podium, almost past the microphone, to make his point to the union crowd about how mad corporate leaders are at him.
Casey, running for a fourth term, argues that consumer prices are high primarily because of greedflation, a term coined to target corporate profiteering at shoppers' expense under the cover of inflation.
“This greedflation-shrinkflation thing is trying to distract the conversation about what really happened,” McCormick said in an interview.Instead, they tend to list many forces that played a role in global inflation during and after the COVID-19 pandemic, including pandemic-fueled supply-chain shortages worldwide, a strong labor market pushing up wages and Russia’s attack on Ukraine creating energy and food bottlenecks.But the U.S.
“A lot of these companies said, ‘Oh, well, consumers can just decide not to buy a certain product,’” Casey said in an interview. “It’s like when you go to the grocery store, you got to get food every week. You got to get household items every week or every other week. You don’t have the choice to, you know, defer purchases for six months. It’s not like buying a new television set.
In one common refrain, Casey asserts that inflation rose by 14% from July 2020 through July 2022, while corporate profits rose by 75% — five times faster. Using federal data, Casey projects that roughly $3,200 of the nearly $5,600 more spent by the average American family in 2021 is due to “corporate profit-taking.”
Focusing on corporate profitability is “glib,” Rahman said. “It’s a little bit easy. It resonates during political cycles.”
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In Pennsylvania's Senate race, Casey puts 'greedflation' and corporations on the ballotFor Democrats trying to defend the White House and Senate majority, Democratic Sen. Bob Casey of Pennsylvania is emerging as the tip of the spear in trying to reframe the election-year narrative around inflation. It's a key soft spot in 2024 for Democrats and President Joe Biden.
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In Pennsylvania's Senate race, Casey puts 'greedflation' and corporations on the ballotFor Democrats trying to defend the White House and Senate majority, Democratic Sen. Bob Casey of Pennsylvania is emerging as the tip of the spear in trying to reframe the election-year narrative around inflation.
Read more »
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Here Are 2024's Most Contested Senate Races—From Arizona To PennsylvaniaI cover national politics, with a focus on elections and the White House. Prior to joining Forbes, I wrote about New York politics for City & State magazine and The New York Post. I am based in New York City.
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