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Opinion | The two datapoints that explain why voters hate the Biden-Harris economy
The Washington Post ^ | August 19, 2024 at 6:15 a.m. EDT | Marc A. Thiessen

Posted on 08/19/2024 2:04:32 PM PDT by E. Pluribus Unum

Vice President Kamala Harris has a problem: Large majorities of Americans believe the economy is on the wrong track, and more say the Biden-Harris administration’s policies have hurt their personal finances rather than helped, and that their personal economic situation is getting worse rather than better. That’s clearly a major headwind for Harris’s presidential hopes.

Until now, her and President Joe Biden’s response to these concerns has been to tell people: Don’t believe your lying eyes (or pocketbooks), the economy is doing a lot better than you think. As the Trump campaign pointed out in a new ad, until recently Harris was giving speeches boasting that “Bidenomics is working.” That message has failed miserably, and for good reason: It does not conform with the lived reality of most Americans.

To understand why, consider this simple statistic: Over the past three years, Americans have gone from the highest levels of household savings ever recorded to among the lowest levels. At the same time, they have accumulated the highest level of personal debt ever recorded.

In the Biden-Harris administration’s first year in office, the Federal Reserve Bank of San Francisco reports, U.S. households were sitting on a record $2.1 trillion in excess savings — meaning additional savings built up during the pandemic recession above the prerecession trend. Nonetheless, as president of the Senate, Harris cast the deciding vote to pass the catastrophically misnamed “American Rescue Plan” with only Democratic votes — a reckless $1.9 trillion social spending bill that even former treasury secretary Lawrence H. Summers, who served high in both the Clinton and Obama administrations, warned would “set off inflationary pressures of a kind we have not seen in a...”

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Humor
KEYWORDS: biden; bidendestroyseconomy; bidenomics; economy; kamala; kamalanomics; maganomics
Over the past three years, Americans have gone from the highest levels of household savings ever recorded to among the lowest levels.

Who was President before Biden?

He sounds pretty good!

1 posted on 08/19/2024 2:04:32 PM PDT by E. Pluribus Unum
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To: E. Pluribus Unum

My two big ones...

My bank account is emptying
My business income is down 90% what it was


2 posted on 08/19/2024 2:08:48 PM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
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To: E. Pluribus Unum

The only thing Harris has going for her is the fact that a lot of women want to murder babies. She’s got that demographic sewn up.


3 posted on 08/19/2024 2:09:06 PM PDT by ClearCase_guy (I think women should get out of women's sports before they get hurt.)
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To: ClearCase_guy

The only thing Harris has going for her is the fact that a lot of women want to murder babies. She’s got that demographic sewn up.
***********************
That’s right. Women don’t care about the economy anymore. They’ll sacrifice all that for the right to kill their babies. The 2022 election proved that.


4 posted on 08/19/2024 2:26:05 PM PDT by sunny bonobo
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To: E. Pluribus Unum
The WaPo put this out?!  Gotta go look out my window to see if pigs are flying.
5 posted on 08/19/2024 2:47:02 PM PDT by mellow velo
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To: E. Pluribus Unum
A basket of groceries that cost $100 before Biden and Harris were elected now costs more than $125

I think it's a lot higher than $125.

6 posted on 08/19/2024 3:14:09 PM PDT by gitmo (If your theology doesn’t become your biography, what good is it?)
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To: Organic Panic

With yuh and trying to pivot out....


7 posted on 08/19/2024 3:23:37 PM PDT by Vendome (I've Gotta Be Me https://youtu.be/wH-pk2vZG2M)
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To: gitmo

Makes me think of the recent story,, where Don Lemon was doing man in the street interviews, and many people said they were supporting Trump.

Lemon was arguing with them that the economy is actually better under Biden than it was under Trump.


8 posted on 08/19/2024 3:28:31 PM PDT by Dilbert San Diego
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To: E. Pluribus Unum

Yo! Markeeee! There is no such thing as the Harris/Joe Pedo “economy”, Skippy.


9 posted on 08/19/2024 5:07:26 PM PDT by FlingWingFlyer (The Banana Voo Doo Queen is putting illegal scumbags on a Free Ride on the American Dream Express.)
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