Axios: More than half of Americans think the U.S. is in a recession. It's not.

[Sir Mohamed]

Tbh, with news like this, I really lose faith in my fellow people. This is ignorance at this point.

https://twitter.com/axios/status/1793609855468503240

More than half of Americans — 56% — mistakenly believe the U.S. is currently in a recession and that Biden is responsible for a worsening economy, according to a stunning new poll conducted by Harris for The Guardian.

Why it matters: The economy is actually in good shape and there's no recession. But misperceptions like this are a huge political challenge for President Biden and an advantage for former President Trump as they vie for second terms.

Reality check: It can be difficult to know if a recession is actually happening — it's a call typically made after the fact by the National Bureau of Economic Research. (The NBER called the 2008 recession months after most people believed we were in one.)

...

[Beet]

Nvidia was worth $300 billion when Biden came into office. Now it's $2 trillion. Clearly, the economy is  booming.

The only problem is that not enough of it is trickling down to the people. Our labor is harvested by AI (such as all posts on Atlas, no doubt) but unless we are shareholders, we see none of the profits.

[wbrocks67]

This is all based on a Harris poll. Mark Penn is truly the worst.

[Sir Mohamed]

Nvidia was worth $300 billion when Biden came into office. Now it's $2 trillion. Clearly, the economy is  booming.

The only problem is that not enough of it is trickling down to the people. Our labor is harvested by AI (such as all posts on Atlas, no doubt) but unless we are shareholders, we see none of the profits.

Yup, it's not trickling down enough. So clearly the lesson should be putting the party that advocated for trickle down economics over the past 40+ years back in power. It's really beyond me how have a fair junk of the electorate apparently doesn't get that.

[wbrocks67]

Nvidia was worth $300 billion when Biden came into office. Now it's $2 trillion. Clearly, the economy is  booming.

The only problem is that not enough of it is trickling down to the people. Our labor is harvested by AI (such as all posts on Atlas, no doubt) but unless we are shareholders, we see none of the profits.

Yup, it's not trickling down enough. So clearly the lesson should be putting the party that advocated for trickle down economics over the past 40+ years back in power. It's really beyond me how have a fair junk of the electorate apparently doesn't get that.

I mean, half the electorate also thinks Trump is apparently going to wave a magic wand to "reduce costs" even though his actual plans inflame inflation (and despite him never giving any evidence as to why he would be the one to bring costs down???) people are simply living in a delusional state

[Sir Mohamed]

Nvidia was worth $300 billion when Biden came into office. Now it's $2 trillion. Clearly, the economy is  booming.

The only problem is that not enough of it is trickling down to the people. Our labor is harvested by AI (such as all posts on Atlas, no doubt) but unless we are shareholders, we see none of the profits.

Yup, it's not trickling down enough. So clearly the lesson should be putting the party that advocated for trickle down economics over the past 40+ years back in power. It's really beyond me how have a fair junk of the electorate apparently doesn't get that.

I mean, half the electorate also thinks Trump is apparently going to wave a magic wand to "reduce costs" even though his actual plans inflame inflation (and despite him never giving any evidence as to why he would be the one to bring costs down???) people are simply living in a delusional state

Most folks have clue how the economy actually works.

I suspect some also believe inflation was mainly driven by Biden overspending and Trump would gut spending.

[GAinDC]

Public opinion on the economy lags behind economic trends. People are still adjusting to the inflation spike in 2022/23, but now that inflation has been tamped down, I think people will start to feel better in the coming months.

Also, regarding the fact that many of these respondents are just wrong: Most people don't have the knowledge or vocabulary to capture the current state of the economy, so they'll use words like recession because that's what it feels like when your dollar doesn't stretch as far as it used to.

That said, I hope the Biden campaign and other Dems try to set the record straight. They can do that without belittling people's concerns, but I think it's important to push back on the misinformation out there about the economy because I do think there are bad actors out there pushing this disconnect and misinformation for their own gain -- mostly Trump, Republicans and corporations that want to jack up prices.

[Ancestral Republican]

Nvidia was worth $300 billion when Biden came into office. Now it's $2 trillion. Clearly, the economy is  booming.

The only problem is that not enough of it is trickling down to the people. Our labor is harvested by AI (such as all posts on Atlas, no doubt) but unless we are shareholders, we see none of the profits.

Yup, it's not trickling down enough. So clearly the lesson should be putting the party that advocated for trickle down economics over the past 40+ years back in power. It's really beyond me how have a fair junk of the electorate apparently doesn't get that.

I mean, half the electorate also thinks Trump is apparently going to wave a magic wand to "reduce costs" even though his actual plans inflame inflation (and despite him never giving any evidence as to why he would be the one to bring costs down???) people are simply living in a delusional state

Most folks have clue how the economy actually works.

I suspect some also believe inflation was mainly driven by Biden overspending and Trump would gut spending.

Yep. This is the average voter.

people that celebrate this blame inflation on greed (instead of actual things that affect inflation, like handing out free money).  These are dumb people.  What are the details of this handout?  Is it going to college grads making $125k/year? regular people love to hear that!

It's also pretty telling that whenever polls like this happen the respondent almost inevitably rates their own economic circumstances better than America's... representing an increasing divorce between voter perceptions and reality.

[Oregon Eagle Politics]

Gas, food, and housing is too expensive. Working-Class Americans don't care that billionaires and corporations are doing better than ever, that doesn't benefit them.

[Fmr. Pres. Duke]

Well when some continue to say the eocnomy is in shambles and the country is in decay, people will start to believe them.

[Del Tachi]

ITT:  red avatars calling voters dumbf[inks]ks and then wondering why their attempts at persuasion don't work lmao

[Holy Unifying Centrist]

Nvidia was worth $300 billion when Biden came into office. Now it's $2 trillion. Clearly, the economy is  booming.

The only problem is that not enough of it is trickling down to the people. Our labor is harvested by AI (such as all posts on Atlas, no doubt) but unless we are shareholders, we see none of the profits.

Yup, it's not trickling down enough. So clearly the lesson should be putting the party that advocated for trickle down economics over the past 40+ years back in power. It's really beyond me how have a fair junk of the electorate apparently doesn't get that.

It's not as if Joe Biden has accomplished raising taxes on the rich or on capital gains. Instead his accomplishments are letting any moron claim asylum on the border and giving money to foreign countries. He barely even ever talks about income inequality

[jojoju1998]

Nvidia was worth $300 billion when Biden came into office. Now it's $2 trillion. Clearly, the economy is  booming.

The only problem is that not enough of it is trickling down to the people. Our labor is harvested by AI (such as all posts on Atlas, no doubt) but unless we are shareholders, we see none of the profits.

Yup, it's not trickling down enough. So clearly the lesson should be putting the party that advocated for trickle down economics over the past 40+ years back in power. It's really beyond me how have a fair junk of the electorate apparently doesn't get that.

It's not as if Joe Biden has accomplished raising taxes on the rich or on capital gains. Instead his accomplishments are letting any moron claim asylum on the border and giving money to foreign countries. He barely even ever talks about income inequality

Have you seen  Biden’s campaign ads and actual speeches ? He talks about the wealthy and income inequality all the time. The media just never covers it.

[Holy Unifying Centrist]

Nvidia was worth $300 billion when Biden came into office. Now it's $2 trillion. Clearly, the economy is  booming.

The only problem is that not enough of it is trickling down to the people. Our labor is harvested by AI (such as all posts on Atlas, no doubt) but unless we are shareholders, we see none of the profits.

Yup, it's not trickling down enough. So clearly the lesson should be putting the party that advocated for trickle down economics over the past 40+ years back in power. It's really beyond me how have a fair junk of the electorate apparently doesn't get that.

It's not as if Joe Biden has accomplished raising taxes on the rich or on capital gains. Instead his accomplishments are letting any moron claim asylum on the border and giving money to foreign countries. He barely even ever talks about income inequality

Have you seen  Biden’s campaign ads and actual speeches ? He talks about the wealthy and income inequality all the time. The media just never covers it.

Why didn't he accomplish it with a D-D-D congress? Maybe it's because dems care more about social issues and feelings of illegal immigrants as opposed to helping out the working class, and it's why the working class is abandoning Biden in droves.

[jojoju1998]

Nvidia was worth $300 billion when Biden came into office. Now it's $2 trillion. Clearly, the economy is  booming.

The only problem is that not enough of it is trickling down to the people. Our labor is harvested by AI (such as all posts on Atlas, no doubt) but unless we are shareholders, we see none of the profits.

Yup, it's not trickling down enough. So clearly the lesson should be putting the party that advocated for trickle down economics over the past 40+ years back in power. It's really beyond me how have a fair junk of the electorate apparently doesn't get that.

It's not as if Joe Biden has accomplished raising taxes on the rich or on capital gains. Instead his accomplishments are letting any moron claim asylum on the border and giving money to foreign countries. He barely even ever talks about income inequality

Have you seen  Biden’s campaign ads and actual speeches ? He talks about the wealthy and income inequality all the time. The media just never covers it.

Why didn't he accomplish it with a D-D-D congress? Maybe it's because dems care more about social issues and feelings of illegal immigrants as opposed to helping out the working class, and it's why the working class is abandoning Biden in droves.

Biden had only 50 seats in the Senate and a bare majority in the House.


Compare this to when  FDR had 69 plus seats in the senate during the 1934 midterms, and midterms are not good for the incumbent party.

https://en.m.wikipedia.org/wiki/1934_United_States_Senate_elections

[Amenhotep Bakari-Sellers]

We aren't in a Recession but the inflation is taking it's toll on everyone. Stimulus checks were very popular we haven't received any except for child tax credit, and rents are too high. That's why people think we are in a Recession, jobs are plentiful

The Govt gave out stimulus checks and rental assistance during the Pandemic and it was a crutch because Rental assistance isn't here no more and everyone don't get a section 8 brochures

[Middle-aged Europe]

It's in a recession when Donald Trump says it is in a recession. Donald Trump is a businessman.

[TheMattMan]

ITT:  red avatars calling voters dumbf[inks]ks and then wondering why their attempts at persuasion don't work lmao

The cognitive dissonance is baffling. Too many people (not just on the left, but on the right as well) are far more interested in being right than actually listening to or caring about voters' experiences.

[ProgressiveModerate]

ITT:  red avatars calling voters dumbf[inks]ks and then wondering why their attempts at persuasion don't work lmao

The cognitive dissonance is baffling. Too many people (not just on the left, but on the right as well) are far more interested in being right than actually listening to or caring about voters' experiences.

I think there's a fine line to walk between "blaming voters" and pointing out problems with our media streams when large subsets of the population believe things that just aren't true.

For instance, if a large share of the population believes a fair election was stolen, I would place some blame on individual people but the bigger question would be what allowed for a mass number of people to gain this belief?

[EastwoodS]

Unit the average American can afford a good single family home, then whatever incumbent is in office deserves to lose.

[Big Abraham]

Nvidia was worth $300 billion when Biden came into office. Now it's $2 trillion. Clearly, the economy is  booming.

The only problem is that not enough of it is trickling down to the people. Our labor is harvested by AI (such as all posts on Atlas, no doubt) but unless we are shareholders, we see none of the profits.

Yup, it's not trickling down enough. So clearly the lesson should be putting the party that advocated for trickle down economics over the past 40+ years back in power. It's really beyond me how have a fair junk of the electorate apparently doesn't get that.

It's not as if Joe Biden has accomplished raising taxes on the rich or on capital gains. Instead his accomplishments are letting any moron claim asylum on the border and giving money to foreign countries. He barely even ever talks about income inequality

Have you seen  Biden’s campaign ads and actual speeches ? He talks about the wealthy and income inequality all the time. The media just never covers it.

Why didn't he accomplish it with a D-D-D congress? Maybe it's because dems care more about social issues and feelings of illegal immigrants as opposed to helping out the working class, and it's why the working class is abandoning Biden in droves.

Biden had only 50 seats in the Senate and a bare majority in the House.


Compare this to when  FDR had 69 plus seats in the senate during the 1934 midterms, and midterms are not good for the incumbent party.

https://en.m.wikipedia.org/wiki/1934_United_States_Senate_elections

And why did Biden struggle to get a slim majority when F.D.R. was so massively popular nationwide? Among black people, among Southern whites, among immigrants, among Catholics, among Jews, among unionists, among farmers, coast to coast and everywhere in between? Why did nearly everyone outside of the manufacturing class vote for Roosevelt and support New Deal programs back in the day? Was it because voters really resonated with F.D.R.'s immigration policy? Was it because F.D.R. told Americans he was battling for "the soul of the nation"? Was it because F.D.R. told Americans, "look Jack, the economy is doing just fine. What's really important is making sure Donald Trump Alf Landon doesn't get elected, because he will destroy our democracy"?

No, it was because F.D.R. actually made a difference in people's pocketbook and dinner tables, and people recognized it and rewarded him for it electorally. They would have no problem doing that with Biden, and with Democrats nationwide, if that party was still the party of F.D.R. and the New Deal Coalition. They can't do that if they don't talk about income inequality or do anything to seriously address it. And the only one who tried to bring that issue to the forefront of the Democratic party in recent history, was completely sidelined by the party and forced to kiss the ring of Hillary Clinton and Joseph Biden.

[DaleCooper]

Unit the average American can afford a good single family home, then whatever incumbent is in office deserves to lose.

The party that even makes a little bit of progress towards this will be unbeatable for a generation.

[EastwoodS]

Unit the average American can afford a good single family home, then whatever incumbent is in office deserves to lose.

The party that even makes a little bit of progress towards this will be unbeatable for a generation.

Yup, if Biden can spend all his energy forcing everyone to drive an electric car then he can incentive mass housing projects.

[TheMattMan]

ITT:  red avatars calling voters dumbf[inks]ks and then wondering why their attempts at persuasion don't work lmao

The cognitive dissonance is baffling. Too many people (not just on the left, but on the right as well) are far more interested in being right than actually listening to or caring about voters' experiences.

I think there's a fine line to walk between "blaming voters" and pointing out problems with our media streams when large subsets of the population believe things that just aren't true.

For instance, if a large share of the population believes a fair election was stolen, I would place some blame on individual people but the bigger question would be what allowed for a mass number of people to gain this belief?

I want to preface this by saying Biden undeniably won the election in 2020.

Disinformation is given fuel when it is able to touch upon the truth. For your 2020 example, Americans became accustomed to hearing the results of a election the same night for countless election cycles. Then, you had a multitude of different factors which broke that experience. You had the horrid Iowa caucuses mishap by Dems, mail-in voting habits dramatically changed, and we had to wait 3 days before networks could call the election. Yes, there were legitimate reasons for this, but Americans don't care about the process - they care about results. I had smart people in my life (who were Dems by the way!) who were convinced Trump had won after the initial election night. Luckily reality hit once the votes were counted, but I'm not surprised at all that people thought 2020 was another 2000.

People do the best with the information that's presented in front of them, and they don't like it when you call them dumb for not reflexively believing them, especially when the people who have headed the institutions their entire lives have been proven to be untrustworthy. Fair or not, people consider long serving congressmen and senators to be liars and crooks who serve themselves primarily. Why should they believe a word Biden says about the economy when he's been plagiarizing speeches since the 60's and he doesn't experience it the same way as normal people do? The guy has never presented himself as a leader, but merely as the 101st senator who took the next step in the ladder when it was presented to him. Maybe the guy they say is a serial liar is telling them the truth about the economy. After all, it felt better to them in 2019, and people have real reason to think it was better then.

I say this all as someone who viscerally hates Trump and is voting Biden full stop, by the way. Our institutions are crumbling all around us, and Biden has frankly done nothing to restore any confidence in them.

[All Along The Watchtower]

Well you would expect prices and the cost of living to come down if we were in a recession…