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US economy going strong under Biden – Americans don’t believe it (www.theguardian.com)

submitted 1 year ago by cowpowered@lemm.ee to c/politics@lemmy.world

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[-] autotldr@lemmings.world 4 points 1 year ago

This is the best summary I could come up with:

But two-thirds of Americans are unhappy about the economy despite consistent reports that inflation is easing and unemployment is close to a 50-year low.

But Harris’s data also shows that fears are widespread – and reinforced by disbelief of or ignorance about official figures and a mistrust of the media’s reporting of them.

The results paint a difficult picture for Joe Biden, who is making “Bidenomics” – his economic policy record – a central plank of his re-election platform.

Biden supporters have just launched a $13m advertising campaign extolling the president’s economic achievements, which include a landmark $1.2tn infrastructure and climate bill, massive investment in domestic microchips production and green energy solutions.

The widest measure of economic growth – gross domestic product – increased at a 2.1% annualized rate last quarter and has been steadily improving since the Covid downturn.

Americans either view the economy through their politics or aren’t feeling it in real life, or both,” said John Gerzema, the CEO of Harris Poll.

The original article contains 761 words, the summary contains 165 words. Saved 78%. I'm a bot and I'm open source!

[-] Furbag@lemmy.world 3 points 1 year ago

If unemployment could go into the negatives because everybody has to take a second job just to stay afloat, some dumbass economist would still come out and say how strong the economy is.

The economy is strong for the owner and investor class right now. Not so much for anybody at roughly middle class or lower.

[-] Aviandelight@mander.xyz 3 points 1 year ago

Then why is the supply chain still fucked? Store shelves still look picked over/overpriced and I constantly have to wait for pharmacies to restock basic medications. And don't even get me started on the rollercoaster that is daily gas prices. I don't give two fucks if CEOs are doing well. The people are NOT doing well. Every other day we see some asinine article where some blowhard CEO is complaining about people are "lazy." People aren't lazy, they are apathetic because there's nothing to gain from hard work anymore.

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this post was submitted on 15 Sep 2023

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