President Biden blames the media for Americans' negative views of the economy

[Richard T]

"I think the 300,000-plus people who got jobs feel better about the economy," Biden said. "The American people are smart as hell and know what their interests are. I think they know they're better off financially than they were before. It's a fact."

President Biden blames the media for Americans' negative views of the economy

"You get more legs when you're reporting something that's negative," President Biden said of Americans' pessimism about the economy.

www.usatoday.com

Joe is consistent. People know that they are better off financially just like they know the border is closed, safe, and secure.

To me there are two problems with the association of Biden and people's satisfaction of the economy. First, it is generally wrong to imply that the President has the power to change that much of the economy. To an extent it is luck and to an extent the current economy is based on decisions made years before the President took office. Inflation for instance is the result of ten years of loose monetary policy and quantitative easing. Other than nominate the Chair of the Federal Reserve, the President has very little to do with this. As to the budget the President is subject to Congress. There is no line item veto, so other than the veto power, there is little the President can do. Sure a great President can lead in policy-making but even the best programs become so entrenched in government that they are generally a negative for the masses. The paths of government are littered with failures, poor budget estimates and entitlements that reduce individual efforts.

The second problem is how individual's view the economy. I am sure there is research out there, but gas, prices and wages are not reflected in an individualized outcome. No person experiences the CPI or any other inflation measure or average earnings. So even if a person was better or worse off, they may not know. I doubt the media makes too much difference either way. Biden's statement is also absurd. 300,000 got jobs could mean very little. What were the jobs, are they second jobs, are they underemployed, are they replacement jobs with lower salaries?

 

[USincognito]

Add that 3.2% on top of the high inflation from last year, please.

Inflation in 1979 was 11.35%, so that's 14.8% on top of 11.35%. If 3.3% on top of 8.3% is literally destroying the country, then how did we possibly survive 79/80?

You should probably read up on this stuff like I have before trying a gotcha.

 

[Valletta]

To me there are two problems with the association of Biden and people's satisfaction of the economy. First, it is generally wrong to imply that the President has the power to change that much of the economy. To an extent it is luck and to an extent the current economy is based on decisions made years before the President took office. Inflation for instance is the result of ten years of loose monetary policy and quantitative easing. Other than nominate the Chair of the Federal Reserve, the President has very little to do with this. As to the budget the President is subject to Congress. There is no line item veto, so other than the veto power, there is little the President can do. Sure a great President can lead in policy-making but even the best programs become so entrenched in government that they are generally a negative for the masses. The paths of government are littered with failures, poor budget estimates and entitlements that reduce individual efforts.

The second problem is how individual's view the economy. I am sure there is research out there, but gas, prices and wages are not reflected in an individualized outcome. No person experiences the CPI or any other inflation measure or average earnings. So even if a person was better or worse off, they may not know. I doubt the media makes too much difference either way. Biden's statement is also absurd. 300,000 got jobs could mean very little. What were the jobs, are they second jobs, are they underemployed, are they replacement jobs with lower salaries?

As to jobs, a number came back from COVID and there was a big increase in part-time jobs.

 

[Arcangl86]

Say what!
Biden can close the border immediately if his handlers would let him.

Sure he could, and completely thank the US economy. So while he does have the power to do so, the repercussions are so severe that "can't" is applicable.

 

[Ceallaigh]

Inflation in 1979 was 11.35%, so that's 14.8% on top of 11.35%. If 3.3% on top of 8.3% is literally destroying the country, then how did we possibly survive 79/80?

You should probably read up on this stuff like I have before trying a gotcha.

Gas is still around $5. Car insurance premiums have nearly doubled. A burger is around $9. A combo is around $12. Rent for small rundown 1 bedroom apartment is around $1800.

 

[FireDragon76]

Inflation has stabilized for the most part.

The economy has had rising income inequality for decades. Nothing really changed under Biden. Tackling inequality is very difficult politically. It doesn't help when one political party engages in very divisive rhetoric that obscures real solutions (such as higher taxes).

 

[Vambram]

Gas prices are down?????????????? The gas prices are still nearly $2 more per gallon than they were before Biden was president.

 

[jacks]

It's great to have something to blame.

 

[comana]

Gas prices are down?????????????? The gas prices are still nearly $2 more per gallon than they were before Biden was president.

Take it up with OPEC

 

[Ceallaigh]

Gas prices are down?????????????? The gas prices are still nearly $2 more per gallon than they were before Biden was president.

Sure. Gas went up to $6+ per gallon and is now down to $5. That's the way it works. Prices double or triple, then go down a little bit and ta da the economy has been fixed.

 

[Vambram]

This economy is far from even being close to being fixed.

 

[USincognito]

Gas prices are down?????????????? The gas prices are still nearly $2 more per gallon than they were before Biden was president.

I took this photo 25 minutes ago in Plano, Texas. This is $2 a gallon less than it was in June 2022.

Thanks President Biden!

 

[USincognito]

This economy is far from even being close to being fixed.

Where do you live? Because here in Dallas, there's construction everywhere, the parking lots of grocery stores, home improvement stores, malls and restaurants are full. That suggests the economy is doing pretty good, especially when you look at some other developed counties.

 

[Pommer]

Who are his supposed "handlers"? Name them.

Their cover names or their Lizard names?

Record low unemployment, gas prices are down, the stock market is up. If this were a Republican President y'all would acting like this was the Roaring Twenties 2.0.

Pshaw! The Democrats foist this lousy economy onto Americans to make the Trump tax cuts “look bad”.

 

[Pommer]

Car insurance premiums have nearly doubled.

Gee, what Biden Administration policy is responsible for this!?

 

[Pommer]

I took this photo 25 minutes ago in Plano, Texas. This is $2 a gallon less than it was in June 2022.

Thanks President Biden!
View attachment 337472

To be fair Texas’ gasoline tax is a mere 20¢/gal, less than half of Washington’s of 49.4¢/gal.

 

[Ceallaigh]

Gee, what Biden Administration policy is responsible for this!?

That doesn't follow. Biden's claim is the media is responsible for negative views of the economy. I say negative views are due to the high cost of living.

 

[Pommer]

That doesn't follow. Biden's claim is the media is responsible for negative views of the economy. I say negative views are due to the high cost of living.

Oh okay, I missed the point then. Sorry.
But if we’re going to pick cherries, maybe we should use “the usual” data that informs us of “how the economy is running”…maybe even add “car insurance premiums” into the mix?

 

[Ceallaigh]

Oh okay, I missed the point then. Sorry.
But if we’re going to pick cherries, maybe we should use “the usual” data that informs us of “how the economy is running”…maybe even add “car insurance premiums” into the mix?

People can throw data at me all day long, but it's not going to change the exorbitant amount of money I'm shelling out to cover the high cost of basic living.

 

[Ceallaigh]

I took this photo 25 minutes ago in Plano, Texas. This is $2 a gallon less than it was in June 2022.

Thanks President Biden!
View attachment 337472

How much is it in central Dallas?