Historically, Dems Pay Price When Inflation Hits

Historically, Dems Pay Price When Inflation Hits
http://pjmedia.com/blog/historically-dems-pay-price-when-inflation-hits/

As a Democrat, I hate to deliver more bad news to President Obama after the defeat of 2010. But I must warn my party of a looming potential economic/political threat that could make the 2010 “shellacking” look mild.
Preliminary indications are that the nation may be in for another bout of inflation. With gas prices up over 15% this winter due to the turmoil in the Middle East, many economists and business reporters are worried that those higher costs will soon be included in the price of nearly everything. In addition, bad weather and increasing global population are causing food prices to rise.
The historical record shows that when prices rise rapidly, voters blame the federal government and take out their wrath on the party of “big government,” the Democrats. Right now, most voters believe that the recession and continuing high unemployment are the nation’s foremost problems. And many economists are more worried about “deflation” (falling jobs, prices, and incomes). But if inflation were to make an unwelcome comeback in the coming decade — especially when combined with already high unemployment — Republicans could win so big that they’d finally complete the across-the-board political realignment Karl Rove dreamed of. And a bout of “hyperinflation” — over 20% — could wreck the Democratic Party for a generation. . . .