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(13,199 posts)
Tue May 28, 2024, 12:00 AM May 28

A Unique Election Driven by a Traditional Issue

Not happy news... but it's the best written summary of the race as of today... ignore it at your own risk.


The Cost of Living Defines This Election

Many Democrats wonder why Biden isn’t getting more credit for an economy where unemployment is at record lows, the stock market is booming, and the post-COVID economic hangover has lifted. But those aren’t the measuring sticks that voters use to gauge the health of the economy. When asked what they thought the best markers of a strong economy were, few (6%) picked the stock market, only 13% picked low unemployment, and just 9% chose household income. Instead, a healthy majority (54%) said the cost of living was the best way to measure the strength of the economy. And, not surprisingly, 51% of voters also think that inflation is the “worst/weakest” part of the economy.

In other words, in the minds of voters, inflation is the engine — not the caboose — of the economy. Moreover, 59% of voters think that President Biden has control over inflation and rising costs. This helps explain why Biden’s approval rating on the economy is deeply underwater at -20 (40% approve to 60% disapprove). Meanwhile, perceptions of Trump’s handling of the economy when he was president, marked by low inflation but huge job losses from COVID, are overwhelmingly positive, with 62% approving of how he dealt with economic issues.

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(115,871 posts)
2. What, pray tell, is the "Happy News Only" rule? Could you kindly provide a
Tue May 28, 2024, 12:19 AM
May 28

link, as I am unaware of such a rule on DU, not even in The Lounge, and I have been here for over 22 years.


(115,871 posts)
4. That does not make it a rule, informal or otherwise, so perhaps you
Tue May 28, 2024, 12:26 AM
May 28

could stop with the gaming? And, perhaps, read your "about" comment in your profile.

Ms. Toad

(34,658 posts)
6. I've been saying this for quite a while.
Tue May 28, 2024, 01:01 AM
May 28

I'm surprised how many people just don't get that how most people measure a healthy economy (or whether they are better off now than 4 years ago) is personal: by how much is left in their pocket at the end of their paycheck (or what bills don't get paid) - not general: how well the stock market is doing, or generic numbers for inflation.

Insisting that the economy is so much better than it was 4 years ago isn't going to make people who have less in their pockets at the end of their paycheck is just tone-deaf.

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