As much as US President Joe Biden would like to believe that the economy is strong, and that his own policies have left Americans better off, polls consistently show that the public isn’t buying it. While there are several reasons for this disconnect, none is especially complicated.
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.
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.