Biden Blames the Media for Americans Not Feeling Good About “Bidenomics”
An annoyed Joe Biden has blamed the media’s reporting as the reason why most Americans give him poor marks on the economy and not his own failed policies, which have kept inflation historically high throughout most of his presidency.
This past weekend, the current president angrily chastised the media for its coverage of the economy as he continues to grapple with lackluster approval ratings on the issue that is most top of mind with voters ahead of 2024.
“What’s your outlook on the economy next year?” a reporter asked the 81-year-old as he departed the White House to spend Christmas at Camp David.
“All good,” Biden shot back, adding: “Take a look. Start reporting it the right way.”
Since taking office, Biden has been haunted by poor marks from voters on the economy. His current approval rating on the issue sits at 37.2%, while 59.7% of Americans disapprove of his economic stewardship, according to the latest RealClearPolitics average.
Shortly after he became president, Biden presided over decades-high inflation, supply chain snarls, and other economic woes. In the minds and pocketbooks of most Americans, little of that has changed. While the White House loves to tout the success of so-called “Bidenomics” the majority of Americans simply are not feeling it.
While inflation has cooled, wages and incomes have yet to catch up with price increases, leaving the president stuck in neutral with the electorate. For November, inflation came in at 3.1% for the previous 12 months, stubbornly higher than the 2% target figure set by the Federal Reserve but well below the 9.1% high from June 2022.
On the other hand, former President Donald Trump, 77, has generally scored higher ratings on the economy with the public than Biden ahead of a potential election showdown.
During his brief gaggle with reporters, Biden also briefly discussed Trump’s push for presidential immunity from charges in connection with his efforts to overturn the 2020 election result.
When asked if “any president is absolutely immune from criminal prosecution,” Biden replied, “I can’t think of one.”
A good journalist looks at each sentence he writes asking: is it true, can I prove it. Bill skips that step often.
When a PBP poster makes a mistake, probably a mistake. When a journalist does it, and does it often, probable a lie.
Bill S. does not check his facts, he leaves truth at the door when he pens his rants.
“Since taking office, Biden has been haunted by poor marks from voters on the economy,” lies Bill. In Fed of 2021, Biden’s rating on the economy was 54% according to Gallop which, considering the times, seems pretty damned positive and certainly NOT POOR.
Yes, it went down over time, is terrible today, but actually rose in feb and august of 2023. And yes, Biden is dumb to yell at the Press. Personally Billy, if I was a Republican I would notice how fast it can change and how short the economic memory of most Americans is. But Biden needs to continue to show journalists, not argue with them. That’s a fool’s mission.
So, Xmas sales are in, about a 3.1% increase which is better than a decrease where some feel ok, others feeling expectations not met, and certainly losers. That’s a good new story for me because negative would be disastrous. I expected winners and losers as covid patterns continue to shake out. And so many great new online options now bodes well for the future, IMO.
Next stop, Spring —- 1q and 2q where IMO, Biden can still pull it off, but needs a good couple of quarters now.
“Shortly after he became president, Biden presided over decades-high inflation,’ is also a lie. Inflation began to rise under Trump in his first two years and dropped in the second two years as the covid effect hit the economy and we all saved and saved all that stimulus. Under Biden, the swallows of the stimulus, from both Presidents, returned and inflation hit levels not seen in decades. There is no way Biden’s actions alone could cause that. Currently it’s just over 3%, the Federal Reserve target is 2%, so what’s your problem? Besides lying? Over the past 64 years, inflation has hit the Fed target less than a dozen times. None of that was under Trump and did you bitch then…noooooooo.
Yes, while Trump gets better scores than Biden on the economy, Biden has better metrics than Trump. So, what do you say to that? Certainly not covered by this article, research, or the bullshitting author. Point is economics is part metrics, part emotion. I do not discount the people’s polls even if the metrics are better than the emotions. In the end, the feelings have the higher priority as “in God we trust” is the most important economic motivator there is. I have seen many a recession start or stop based on feelings; not so much on metrics.
So the take the polling to heart, but the author is adequate, at best.
UHHH . . . Americans don’t FEEL too good about so called “Bidenomics” (?!?) because it doesn’t WORK.
Joey-what part of inflation down, unemployment at near record lows, manufacturing jobs returning to the US, and sizable gains in gross national product are not working? Yes, I get it, inflation has been higher than what we have experienced in the recent past, but clearly not due to Bidenomics as our inflation rate has consistently been lower than other western countries. It’s only a matter of time before people realize that things are better than they were during the disastrous trump era economically (and in every other area of note…)
Mike F, while I agree with your conclusions on the metrics, the feelings of the populace are frankly more pertinent. As noted, over my life I have seen many a recession or expansion caused by feelings alone. Not to mention the ad hoc crap like Trump shitting on some company his fancy tells him to.
Once with Clinton as Pres, Hillary working healthcare, the market slumped dramatically. When called the financial/insurance house claimed it was healthcare panic. Hillary had not made a proposal. How could that move the entire market. But that was the news, and the hits continued for another day, and then corrected since there was no there, there. These guys can move markets, and then claim anything they want. Happens all the time.
Likewise, how we didn’t talk ourselves into a recession is a miracle. Guess all that pent-up stimulus money, higher wages, less unemployment just couldn’t let a bad idea happen this time, but all the experts are shocked. Feelings rate more than metrics: we don’t trust statistics, in God we trust instead.
I have said before that the Biden economy is uneven and while many OK, many not so OK either. That’s the rub.
However, on the numbers, your are correct, he looks pretty good. It’s just that emotions, feelings, and your own personal outlook matter much more.
On the numbers, Moody has tracked Presidential economies since Carter and Biden looks good for jobs, manufacturing employment, exports, and real GDP per capita, and less than comparable on S&P 500 and Average Hourly Earnings. *https://finance.yahoo.com/bidenomics/*
I can get reams of this; the only downside basically is the Congressional Budget Office which is spinning a complete negative bullshit narrative on every topic via cherry picking of facts. But instead, I leave you this piece from the Roosevelt Institute which pretty much sums up what I think, and have been saying. FYI: RI is rated left of center, but highly factual.
*https://rooseveltinstitute.org/2023/12/20/the-state-of-bidenomics/*