Opinion Biden’s Unpopularity Is More Mysterious Than It Looks

[panem-et-circenses]

“America’s unemployment rate is hovering at historic lows. The percentage of prime-age Americans in the labor force is higher than it’s been since the 2008 financial crisis. Thanks to an abundance of employment opportunities, lower-income workers have recovered roughly 25 percent of the increase in wage inequalitythat accrued between Ronald Reagan’s election and Joe Biden’s. Inflation is falling. A gallon of gasoline costs roughly 30 percent less than it did one year ago.

One popular gauge of the economy’s strength is the “misery index,” which simply adds together the unemployment and inflation rates. That index is lower now than it’s been during 83 percent of all months since 1978.

Meanwhile, Joe Biden’s plans for increasing manufacturing employment and investment in the United States are going swimmingly. Manufacturing-plant construction has doubled since the end of 2021, and real spending on the forms of manufacturing most incentivized by the president’s CHIPS law and Inflation Reduction Act — computer, electronics, and electrical production — has nearly quadrupled over the past year.”

And yet, Biden is one of the most unpopular presidents in modern American history, with 54.4 percent of voters disapproving of his job performance in FiveThirtyEight’s polling average. And the public’s views of his economic management are especially dour: A recent AP-NORC Center pollfinds only one-third of voters approving of Biden’s handling of the economy.

“So, if most Americans have objectively seen an increase in living standards since the pandemic and subjectively feel satisfied with both their economic and nonmaterial circumstances, why are they so dissatisfied with their president and his economic record?”

NYMAG


Have Americans become too hard on Biden? Are we jaded?

 

[mommas homeboy]

“America’s unemployment rate is hovering at historic lows. The percentage of prime-age Americans in the labor force is higher than it’s been since the 2008 financial crisis. Thanks to an abundance of employment opportunities, lower-income workers have recovered roughly 25 percent of the increase in wage inequalitythat accrued between Ronald Reagan’s election and Joe Biden’s. Inflation is falling. A gallon of gasoline costs roughly 30 percent less than it did one year ago.

One popular gauge of the economy’s strength is the “misery index,” which simply adds together the unemployment and inflation rates. That index is lower now than it’s been during 83 percent of all months since 1978.

Meanwhile, Joe Biden’s plans for increasing manufacturing employment and investment in the United States are going swimmingly. Manufacturing-plant construction has doubled since the end of 2021, and real spending on the forms of manufacturing most incentivized by the president’s CHIPS law and Inflation Reduction Act — computer, electronics, and electrical production — has nearly quadrupled over the past year.”



“So, if most Americans have objectively seen an increase in living standards since the pandemic and subjectively feel satisfied with both their economic and nonmaterial circumstances, why are they so dissatisfied with their president and his economic record?”

NYMAG


Have Americans become too hard on Biden? Are we jaded?

No, they haven't. He's a steaming pile of shit. A despicable human being. He's decimated the American way of life with inflation and woke mandates. An he's every bit as bad as even his worst critics think he is.

All the stats you posted are complete garbage by the way. The average American is way worse off now than they were under Trump. It's not even comparable.

 

[SandisLL]

IMHO most likely seriously funded by Putin anti Biden campaign. I hope that IRS and FBI at least will start serisouly investigate russian propaganda shills income etc.

 

[lifelessheap]

When millions drop out of the workplace forever and stop looking for work unemployment looks good. I have never seen more help wanted signs. Every single business is desperate for workers.

 

[shockaholic12]

I think prices of things still have folks fucked out and displeased in general so they won't report positive feelings about much of anything when polled but when it comes time to vote will support Biden.

He has a balancing act this campaign as far as taking credit but admitting there's a lot of work to do.

 

[Andy Capp]

No, they haven't. He's a steaming pile of shit. A despicable human being. He's decimated the American way of life with inflation and woke mandates. An he's every bit as bad as even his worst critics think he is.

All the stats you posted are complete garbage by the way. The average American is way worse off now then they were under Trump. It's not even comparable.

lol none of the evidence supports this bullshit claim. None. Circumstances may have gotten worse for people who were already poorly off to begin with--that's open to debate, but there is abundant evidence the "the average American" is doing well. Wages relative to inflation have improved a fair bit, among other things. Inflation remains above desired levels because people are spending money like mad.

 

[TestosterOWN]

Bro everything is so Fkn expensive. I know he can’t just wave a magic wand and lower prices but life is hard for MANY people. Including middle class. And gas isn’t the issue. It’s getting my anus raped buying groceries for my family.

 

[jimjamjammer]

People have more debt now than they have had in decades and it's more expensive to service. Things may seem great on the surface but they are far from it.

 

[ShadBo]

When millions drop out of the workplace forever and stop looking for work unemployment looks good. I have never seen more help wanted signs. Every single business is desperate for workers.

Do you understand how the unemployment rate is calculated?

 

[TestosterOWN]

People have more debt now than they have had in decades and it's more expensive to service. Things may seem great on the surface but they are far from it.

Right. A car 5 years ago cost 20 grand now it’s 35. Millions of people are in severe debt. Granted many are idiots and don’t understand credit and loans, but still. Some are forced to use it.

 

[Snubnoze707]

I'm sure employment is up, people have to work two jobs to afford groceries these days...

 

[Jack V Savage]

When millions drop out of the workplace forever and stop looking for work unemployment looks good. I have never seen more help wanted signs. Every single business is desperate for workers.

Er, when you have very low unemployment, that means businesses are more desperate for workers, and that drives wages up. Generally considered a good thing.

Also, prime-age LFP is the highest its been since 2002 and near an all-time high.

 

[KaNesDeath]

The average American is way worse off now then they were under Trump. It's not even comparable.

Trump got to take credit for Obamas continued economic growth coming out of the housing market crisis. Then Trump caused this current inflation with his 2020 covid economic policies.

 

[Ruke Doufus]

Er, when you have very low unemployment, that means businesses are more desperate for workers, and that drives wages up. Generally considered a good thing.

Also, prime-age LFP is the highest its been since 2002 and near an all-time high.

Anyone not making minimum wage doesn't benefit from that but everyone gets ass blasted on the corrosponding price hike on goods.

 

[Jack V Savage]

Anyone not making minimum wage doesn't benefit from that but everyone gets ass blasted on the corrosponding price hike on goods.

No, all workers benefit from high demand for workers. And median real wages are down from their peak, but still very high by historical standards and rising. There's no way to spin away from the fact that the economy is doing very well right now.

 

[lifelessheap]

Do you understand how the unemployment rate is calculated?

When someone drops totally out of the workforce and stops trying to gain employment they are not considered unemployed. Thus, they don't count as unemployed.

 

[P4p Islam]

No, they haven't. He's a steaming pile of shit. A despicable human being. He's decimated the American way of life with inflation and woke mandates. An he's every bit as bad as even his worst critics think he is.

All the stats you posted are complete garbage by the way. The average American is way worse off now then they were under Trump. It's not even comparable.

Are you talking about biden or trump?

 

[SKYNET]

Have Americans become too hard on Biden?

 

[Fox by the Sea]

always amazed to see both sides pretend they're talking about a fully functioning human being, with a political will and agenda of his own, and not a degenerated extinguished husk of a human being who barely remembers where he is half the time.

 

[moreorless87]

Employment levels don't really mean much nowadays and I'd question the stats on lower paid workers being better off overall when you factor things like big increases in rent and general inflation.

Neither of those really down to Biden alone of course as they've been growing for decades but I don't think he's done much to change things.

Were currently in a situation were the status quo is more unpopular than it has been since at least the 70's and maybe all the way back to the 30's so anyone in power who does little to change that is not going to be very popular.