US economy going strong under Biden – Americans don’t believe it
US economy going strong under Biden – Americans don’t believe it
Despite a strong economy, an exclusive Guardian poll shows mistrust in media and government means disbelief in both parties
I'll believe the economics are better when I'm not paying markedly more for everything in my life and my salary increases.
The politicians are so wildly out of touch with the citizens.
This idea that the data is "mistrusted" or "unseen" is ridiculous to the point of incredulity. I don't care what the data says, I know what my lived experiences are and everything is getting wildly more expensive except my labor, it seems. Show me any study you want, it won't change that groceries are 30%+ more expensive, my rent keeps going up, restaurants and bars have gotten nearly 50% or more pricier and my wage hasn't grown to match.
Does the definition of "economy" actually include people or are we just looking at corporation numbers because I can believe THAT economy is going strong but there's no way I believe that the entire economy is doing just fine. You don't need to look further than the grocery store prices to see that.
Nothing, not even basic necessities like food, is even remotely affordable anymore, let along a roof over your head. Yet they still want us to work to the bone like slaves and have babies while somehow not having a place to live. Biden has passed some great legislation but the economy is nowhere near ok for anyone except the 1%.
People know when their lives are getting better or worse. You can explain to them all you want about per-capita GDP, adjusted vs raw unemployment, whatever other jargon-crusted, hyperabstract measurement you care to explain, but people know the world they're living in. They know whether they're struggling to get ahead, struggling to stay even or struggling to slow the rate at which they fall behind.
Because, for a lot of people, the economy isn't improving.
Say you were on the verge of buying a house, interest rates have doubled, are at a 22 year high, and now you're priced out of the market.
Or, say you're like me and bought a house in 2021 with a 3.25% interest rate. You're locked in. You can't sell your house, a) because nobody could afford the 7% it's going to take to buy it and b) you likely can't afford the 7% it will likely take to buy a new house.
Refinancing isn't an option because who wants a higher rate. Ditto for a 2nd mortgage.
And this doesn't even get into rising food and fuel costs.
No I totally trust the people telling us the economy is strong despite everything I see around me. If the economy doesn't work for the people then it doesn't matter what GDP or any of the other big stats are doing.
I generally like Biden, but that's a crock of shit. Anytime news outlets claim that the "economy is strong", they're almost always talking about how it is for the investor and owner classes, not for the working class. This economy is absolute dogshit for the proles, how the hell is anybody supposed to survive under these conditions? I make OK money and I'm barely scraping by, I don't know how the fuck anybody else is still hanging on. Housing and the price of consumer goods needs to seriously come the fuck back down to Earth, it's squeezing people dry. I kind of wish people in apartment complexes would just start banding together and burn their rental offices down and just refuse to pay rents anymore, because whoever decides what "market rates" are for renting apartments are some of the greediest motherfuckers on the planet.
The stock market isn’t the economy… jic that’s what this article is referring to.
Uses a stupid fucking definition of unemployment, then tosses out a biased ass line disparaging peoples distrust of media.
But the poll found that 51% wrongly believe that unemployment is nearing a 50-year high rather than those who believe it’s actually low (49%).
I think people rightly don't believe it because it's apparent that the economic machine in the United States is not built for the benefit of the average worker, it's built for the benefit of the capitalist class that's captured the government. Republicans may be more up front about upholding the status quo, but there are plenty of corporate Democrats that will support the same status quo while chasing the social capital that comes with agitating for change that more progressive groups are pushing for.
People don't have faith when they're constantly sacrificed at the altar of "the economy" without seeing any of the benefits of an improving economy. For a good example, look at how the BNSF rail strikes were resolved before Christmas last year. Rail workers were striking for very reasonable things like 7 days of sick leave per year (up from literally 0, per the contract they had with BNSF) and appropriate staffing to prevent emergencies (like what happened in East Palestine, Ohio in early 2023), and what did Biden do? Biden, the guy who campaigned as one of the most pro-labor and pro-union presidents in recent history, stabbed them in the fucking back and made it illegal to strike because an unstable supply chain around Christmas spelled "economic catastrophe". Biden would rather go to bat for a large corporation than for the workers that corporation is shamelessly exploiting.
Well, yes. If you are a high-income earner or if you make most of your money from rents or investments ... the 'economy' is strong. For the rest of us - we have to make choices between healthcare and food.
tell me what the housing and rent inflation rate has been since 2010. We all know the economy is fucked. A lot of this bullshit did happen during trump's artificially low interest rates.
That's because the average American doesn't benefit from a "strong economy".
Yeah. Record breaking costs and record breaking profit margins as far as the eye can see. Fuck off with this bullshit.
The economy is improving for the rich corporate executives boasting about record-breaking revenue every quarter. For everyone else, prices are going up and their wages are not changing. Fuck the rich.
Of course they don't believe it!
Democrats do a shit job at celebrating their victories and communicating with average Joes.
Also this asinine "liberal guilt" prevents anyone from the Left to ever enjoy anything for fear that there might be one person out there who isn't doing so well and it would hUrTiNg tHeIr fEeLiNgS. It is absolutely exhausting dealing with these people who don't want to accept that unemployment is at an incredibly low number, interest rates are still at historic lows, wage growth is at 40 year record, inflation is dropping, and the economy is indeed booming. Times are indeed good, regardless of what the vocal naysayers tell people.
Then mix in an endless stream of foreign agent trolls who are purposefully trying to spread misinformation before the election. Whether they are Russian agents or right-wing conservatives masquerading as progressives, they are trying to bring people down because apathy is one of the best tools that Republicans have to keep people home on election day. Low voter turn-out usually helps the GOP.
Put all that together and it isn't surprising that Americans don't believe that the economy is strong.
The economy overall might be fine, but the average person can still not be.
People don't care much about data and facts on unemployment and GDP when ultimately their personal situation is what matters. Things are more expensive and wages for a lot of people haven't kept up. Already have too many people think that no/less inflation means prices go down, when actually that just means prices stay the same or go up slower. Deflation is off the table cause that can be even worse.
Sadly, there isn't much that can be done beyond sticking to higher interest rates and letting the market adapt and catch up.
Not much the president can do either, especially with this congress. Even if it wasn't, the changes and effects would likely take years to even reach fruition. Let alone have a significant impact for most people if all goes according to plan.
We have seen this scenario play out before.
When will legacy media start telling it like it is? The general public has said for decades that the metrics that determine what a “good economy” is doesn’t tell the reality of the average American.
Well, the media has worked very very hard to paint Biden in the worst possible light and not give him credit for anything other than putting on his pants each morning, so its no wonder people feel that way.
The fact is that our economy is booming. We will need to adjust out GDP upward before the end of the year if the strikes don't hurt. Virtually every country in the rest of the world has huge economic problems compared to the US.
This is the best summary I could come up with:
But two-thirds of Americans are unhappy about the economy despite consistent reports that inflation is easing and unemployment is close to a 50-year low.
But Harris’s data also shows that fears are widespread – and reinforced by disbelief of or ignorance about official figures and a mistrust of the media’s reporting of them.
The results paint a difficult picture for Joe Biden, who is making “Bidenomics” – his economic policy record – a central plank of his re-election platform.
Biden supporters have just launched a $13m advertising campaign extolling the president’s economic achievements, which include a landmark $1.2tn infrastructure and climate bill, massive investment in domestic microchips production and green energy solutions.
The widest measure of economic growth – gross domestic product – increased at a 2.1% annualized rate last quarter and has been steadily improving since the Covid downturn.
Americans either view the economy through their politics or aren’t feeling it in real life, or both,” said John Gerzema, the CEO of Harris Poll.
The original article contains 761 words, the summary contains 165 words. Saved 78%. I'm a bot and I'm open source!
If unemployment could go into the negatives because everybody has to take a second job just to stay afloat, some dumbass economist would still come out and say how strong the economy is.
The economy is strong for the owner and investor class right now. Not so much for anybody at roughly middle class or lower.
Then why is the supply chain still fucked? Store shelves still look picked over/overpriced and I constantly have to wait for pharmacies to restock basic medications. And don't even get me started on the rollercoaster that is daily gas prices. I don't give two fucks if CEOs are doing well. The people are NOT doing well. Every other day we see some asinine article where some blowhard CEO is complaining about people are "lazy." People aren't lazy, they are apathetic because there's nothing to gain from hard work anymore.
Of course they don't, gas prices
“Inflation is easing”
And the super fake unemployment number is real low.
Gee I’m thrilled.
thought biden ran off of raising the minimum wage
maybe demopublicans should not be running the country
how so many people ate biden's and trump's bs is amazing and still are