STANFORD – There is a large disconnect between how US President Joe Biden and many economists are describing the state of the American economy, and how ordinary citizens are experiencing it. Indeed, Biden’s team is frustrated at not getting credit for what they believe is a strong economy (which they attribute to the administration’s policies).

Yet voters equate “Bidenomics” with inflation. By a margin of three to one they tell pollsters that the economy and their personal finances are “poor” or only “fair”; more Americans still believe that they were better off under Biden’s predecessor, Donald Trump, and that Biden’s policies have hurt, not helped.

Because Biden trails Trump badly in polls about voters’ top concerns – namely, the economy, inflation, and illegal immigration – he is turning to issues where he has an advantage (abortion), and highlighting Trump’s behavior. Yet there is a good chance that voters’ views on the economy will decide what is shaping up to be a tight contest for the presidency and control of the House, Senate, and some states. And since perceptions often lag reality, Biden must hope that the economy doesn’t deteriorate, that inflation declines further, and that memories of high inflation fade by November.

QOSHE - Why Voters Are Unhappy About the Biden Economy - Michael J. Boskin
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Why Voters Are Unhappy About the Biden Economy

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02.05.2024

STANFORD – There is a large disconnect between how US President Joe Biden and many economists are describing the state of the American economy, and how ordinary citizens are experiencing it. Indeed, Biden’s team is frustrated at not getting credit for what they believe is a strong economy (which they attribute to the........

© Project Syndicate


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