In other news...here's a chart that might explain folks ongoing malaise over inflation:

[Fiendish Thingy]

Link to tweet

/

Admittedly, the framing by the tweeter is biased, but the chart reveals just how hard inflation has impacted consumers over the past four years. For many millennials and Gen Z’s, it’s the worst inflation in their adult lives.

Illustrated this way, it explains clearly (to me anyway) why so many folks don’t acknowledge the successes of Bidenomics.

The Biden campaign and their surrogates need to sharpen their economic message to intensify their empathy while continuing to hammer the improvements in unemployment, wages, domestic manufacturing, etc.

[Skittles]

1. and they hear about college debt being forgiven

note, I am not against that, especially when you read the stories - but those without a college degree who are struggling with inflation may not be quite so forgiving

[Stargleamer]

2. I think the inflation during Nixon and Ford

Was higher than during Biden’s term, but the graph conveniently goes back just to Carter

[Fiendish Thingy]

3. I don't think it was that high for Nixon

Ford had his “Whip Inflation Now” campaign, but inflation really heated up in the late 70’s-early 80’s, which is why Reagan’s numbers are just slightly below Biden’s.

[Stargleamer]

4. I agree that inflation was higher during the last year of Carter's term

higher than it had been under Ford, but

"What followed [in the 1970s] was high and variable inflation over the next decade. Core PCE inflation remained above 5% for about 10 years, and it was nearly 10% twice during that period (in late 1974 to early 1975 and again in late 1980 to early 1981)" https://www.stlouisfed.org/publications/regional-economist/2022/june/getting-ahead-of-inflation-lesson-1974-1983 Given that Nixon left in August 1974, in retrospect I should have left his name off my post--it was mostly high during Ford's initial year(s).

This website has a graph indicates that while inflation was highest during the waning months of Jimmy Carter's term, it was still higher under Ford than it's been under Biden: https://econofact.org/rising-inflation