Joe Biden literally said in the CNN interview just done that sure there’s inflation, but people have the money to spend! Um. What.
I mean, he's not wrong. The data bears that out. At this point, voters are straight up lying.
That's not exactly true. Since the economy returned to full employment in Q3 2021, real wages have still declined. According to the Fed, a lot of the gains that were made in the last 1.5 years were erased by a poor Q1 2024. Personal savings rates have remained much below typical levels for the entirety of the Biden presidency.
Full employment and strong GDP growth are strengths in the economy that Biden can point to, but there is real evidence to support the median voter's "middle class but struggling to get by" view of the economy. No one is saying the economy is terrible, just mediocre.
