62 upvotes, 5 direct replies (showing 5)
View submission: Thoughts on trump’s economy?
According to economists who study this for a living, the democrats did actually bring the economy back from its COVID downturn. Biden didn't eliminate inflation, but his policies grinded it to a halt. To the point where the Fed actually didn't increase interest rates for the first time in years.
The interesting thing is how people's perceptions of the economy have no bearing in reality. Even when americans are objectively better off than they were before (in terms of disposable income, purchasing power, and other measurable metrics) their views will always come second to political opinions.
Comment by Dakota820 at 10/03/2025 at 20:08 UTC
11 upvotes, 2 direct replies
There’s two things that are important to note here
1. price increases are both rather “in your face” and ever-present in the sense that people are constantly buying things and thus seeing reminders of said increases, whereas increases in one’s income are much less so either of those things
2. macroeconomic measures are just that: measures of the larger economy. They can indicate that the average conditions for individuals across the country are improving, but at the same time are rather poor predictors of the conditions of any individual person, locality, and even somewhat at a state level.
Comment by Stunning-Equipment32 at 11/03/2025 at 01:37 UTC
10 upvotes, 0 direct replies
It’s interesting the question “are You better off?” Actually is shiftable by reality, but the question “are others better off?” Is not.
Comment by connierebel at 11/03/2025 at 06:25 UTC
3 upvotes, 0 direct replies
The thing is, people’s perceptions ARE the reality for them! All the economic metrics don’t mean a thing if they aren’t aligned with the real world. Just because an economist SAYS we have more disposable income doesn’t mean we actually do.
Comment by No-Breakfast-6749 at 11/03/2025 at 04:32 UTC
2 upvotes, 1 direct replies
The average American or the median American? I see widening wealth inequality, 1/5th of Americans with *negative* net worth, and ~1/3rd living paycheck to paycheck. The 3 wealthiest people in the country own more than the bottom 50% combined. Sure, Democrats brought the economy back from the disruption that was the pandemic. But they failed to acknowledge that there are still people struggling just to get by, and when they did, it was always in a hand-waving fashion.
Comment by CyanicEmber at 10/03/2025 at 23:23 UTC
0 upvotes, 2 direct replies
If the "data" wants to claim that I am better off in terms of disposable income, purchasing power, and other measurable metrics, the data can get fucked. Because that is definitely not true.