The American people’s confidence in the presidency has plummeted 15 points on President Biden’s watch — falling to 23 percent, according to a new Gallup poll, its lowest point on record.

One of the many reasons for this collapse, columnist Mark Thiessen says, is the worst inflation in four decades. And Biden learned this week that inflation is probably not going to ease anytime soon — because Americans have barely touched the trillions in excess savings they have built up, thanks in large part to his catastrophic American Rescue Plan.