No. of Recommendations: 3
Bidenomics continues to work.
I understand the sentiment. But you do realize that this is exactly the reason why Biden's getting clobbered on economic issues?
Yes, inflation is down to 3.2%. Which is still the highest it's been in more than a decade. That's not low inflation - it's still high inflation. It only looks low compared to the terrible inflation that started in Q2 2021. And of course, even if inflation rates have fallen to a lighter shade of bad, that doesn't mean that prices have fallen. Prices are still super-high! People are still looking at their checkout receipts and going, "Damn, I can't believe how much a week's groceries cost." My wife said that to me last week!
Yes, rents are cheaper in 50 U.S. cities than a year ago. And they're still vastly higher than ever before. Because rents skyrocketed by 25% the year before. Having them drop half a percent isn't going to make people feel good about rents. They don't! The rents are too high compared to two years ago for them to be grateful that they're not as high as the peak.
Yes, gas prices are lower - now down to about $3.30 per gallon, nationwide. Which is still more expensive than at any point during the Trump administration. That's not to say that Presidents control gas prices - they don't. But it's absolutely tone deaf to trumpet gas prices not being as high as the $5 per gallon from earlier in your administration, instead of being aware that they're still higher than at any point in the preceding administration.
And that's before we get into interest rates - which are, of course, at multi-decadal highs and cause a lot of pain for a lot of people.
If Democrats don't get their head on straight and recognize that there's a lot about the economy that voters legitimately don't like, instead of always asking why Biden isn't getting more credit for how awesome the economy is doing, they're going to get spanked in 2024.
