Sharp and sustained economic criticism from Biden's ostensible allies established a narrative of failure that has proved alarmingly resistant to reality.
Here’s Gallup actually asking the people and not an economist quoting the most generalized of statistics to cover up real conditions on the ground. It is entirely possible for the economy to grow, for unemployment to drop, and inflation to be less, while the working class is evicted en masse.
63% of U.S. adults say recent price increases have caused financial hardship for their family. This includes 17% who say it is a severe hardship affecting their ability to maintain their standard of living and 46% who report it is a moderate hardship but does not jeopardize their standard of living. Another 37% of Americans say inflation is not a hardship at all.
The current 63% saying rising prices are a personal hardship reflects a continuation of peak concern on this measure since Gallup started monitoring it in November 2021. In that initial reading, 45% reported a severe or moderate hardship. The rate inched up in 2022 even as inflation ebbed, perhaps reflecting the cumulative effect of higher prices rather than the rate itself.
Those in lower-income households (76%) are more likely than those in middle-income households (64%) and higher-income households (54%) to say price increases are causing them hardship. However, income differences are even more pronounced when looking just at those saying the impact is severe. Lower-income Americans (30%) are three times as likely as high-income adults (10%) and almost twice as likely as middle-income adults (16%) to characterize high prices as a severe hardship.
Thank you, that’s helpful information! And not at all surprising, as those nearest the bottom are usually the last to feel relief from economic downturns.
I think a lot of what helped us rebuild the economy is that during covid a ton of people completed their education and were ready to move up. Those who weren’t able to do that are still suffering and left behind to an extent.
Yeah. But the problem here is the Biden campaign cannot fathom why their messaging is making people mad. And of course they’re going to be mad if they’re still hurting and he refuses to believe it.
What are they supposed to do? They improved the economy. People refuse to believe it.
I’ll give you a moment to rage.
Okay, now that’s done, consider it from their perspective. The data tells them they have succeeded. People refuse to believe it. What are they supposed to do? Succeed again? People will just reject it again.
I wouldn’t be surprised if they just did a heel turn and said, welp, guess who isn’t a bunch of ungrateful fucks? Wealthy people. Tax cuts ahoy! Found a new voter base!
I refuse to believe they are that dense. The first thing you learn in economics class is that the top level statistics like GDP, Unemployment, Median Wage, and Inflation are too broad to tell the whole story. That’s why we have the surveys. When the top level numbers are good and people are still complaining it’s not just PR or ungratefulness. There’s really something wrong. And at the end of the day if things are normal, then you’re losing the messaging battle. These guys are completely detached from reality in one way or another. But considering the survey results I’m pretty sure it’s actually hard to put a monthly budget together for 63% of Americans right now.
Here’s Gallup actually asking the people and not an economist quoting the most generalized of statistics to cover up real conditions on the ground. It is entirely possible for the economy to grow, for unemployment to drop, and inflation to be less, while the working class is evicted en masse.
Thank you, that’s helpful information! And not at all surprising, as those nearest the bottom are usually the last to feel relief from economic downturns.
I think a lot of what helped us rebuild the economy is that during covid a ton of people completed their education and were ready to move up. Those who weren’t able to do that are still suffering and left behind to an extent.
Yeah. But the problem here is the Biden campaign cannot fathom why their messaging is making people mad. And of course they’re going to be mad if they’re still hurting and he refuses to believe it.
What are they supposed to do? They improved the economy. People refuse to believe it.
I’ll give you a moment to rage.
Okay, now that’s done, consider it from their perspective. The data tells them they have succeeded. People refuse to believe it. What are they supposed to do? Succeed again? People will just reject it again.
I wouldn’t be surprised if they just did a heel turn and said, welp, guess who isn’t a bunch of ungrateful fucks? Wealthy people. Tax cuts ahoy! Found a new voter base!
I refuse to believe they are that dense. The first thing you learn in economics class is that the top level statistics like GDP, Unemployment, Median Wage, and Inflation are too broad to tell the whole story. That’s why we have the surveys. When the top level numbers are good and people are still complaining it’s not just PR or ungratefulness. There’s really something wrong. And at the end of the day if things are normal, then you’re losing the messaging battle. These guys are completely detached from reality in one way or another. But considering the survey results I’m pretty sure it’s actually hard to put a monthly budget together for 63% of Americans right now.
This is it. Facts don’t matter, only perception. We’re in a post-truth era.
Maybe… just maybe… the numbers about the economy arent true.
But surely the govt and fed wouldnt lie to us?
Nah they’re true. They just aren’t numbers that describe the working class. They describe things as a whole with no regard for the parts.