In 1992, the infamous Democratic strategist and campaign adviser, James Carville, famously coined the phrase "It’s the economy, stupid" as part of a campaign effort to win voters to Bill Clinton. 

It was a contentious presidential year. President George H. W. Bush was seeking re-election but given the prevailing recession and growing economic uncertainty, Carville identified the pain point that would ultimately deliver votes to secure the presidency for the Democrats. 

House Majority Whip Jim Clyburn said in a recent interview that voters' economic concerns are not as important as protecting democracy.

The South Carolina Democrat told Fox News on Thursday that Americans should ponder whether they want to live in a democracy or autocracy, conjuring past comments made by former President Donald Trump in which he called the press "the enemy of the people."

Pandemic shortages, Russia's war in Ukraine, and plain old gouging are hiking prices across the globe. A dollar doesn't go as far as it used to, and many Americans are struggling.

Higher prices at the pump and the grocery store hurt. But there is also some good news.

For one thing, we're actually experiencing less inflation than many other countries. Inflation here is 8 percent, compared to over 10 percent in the U.K. and Eurozone. Turkey has seen rates of over 80 percent.

For another, we're better equipped to weather hard times than we've been in decades.