Biden vs Trump 2024 Political Platforms, Policies and Issues

[zorg1000]

Ryuu96 said:

zorg1000 said:

It’s definitely a tricky situation running on the economy after two years of rising inflation & interest rates, while the economy is strong in a traditional sense (employment, GDP, real wages, stock market, etc) people just aren’t feeling it because of increased prices & borrowing costs.

I think that same poll said a large chuck of the population thinks we are also in a recession. There is a huge disconnect between perception & reality.

Biden & Democrats risk coming off as completely out of touch if they brag about things like the stock market while many Americans are struggling to afford groceries or feel like homeownership is out of reach.

Even with inflation cooling and interest rates possibly going down in the near future, it will probably take a few years of steady wage gains for people to truly feel like the economy is going strong.

This was what I was going to ask, how is the economy, cost of living, etc? I think I read a couple months ago that America is doing better than a lot of European countries but it still isn't great and I don't know how much has improved since but if there's still millions struggling with the cost of living, struggling to afford basic necessities such as food, bragging about the stock market over and over is just going to piss a lot of people off and come across as insensitive/out of touch.

By most traditional metrics (or at least the metrics Trump liked to brag about) the economy is just as strong/stronger than during the Trump years.

Unemployment Rate

2017-4.4%
2018-3.9%
2019-3.7%
2020-8.1%
2021-5.3%
2022-3.6%
2023-3.6%

Stock Market (after 41 months)

Trump-+29.9%
Biden-+30.6%

GDP Growth

2017-2.5%
2018-3.0%
2019-2.5%
2020- -2.2%
2021-5.8%
2022-1.9%
2023-2.5%

Wage Growth

2017-3.45%
2018-3.62%
2019-3.75%
2020-2.83%
2021-8.89%
2022-5.32%
2023-3.80%

Inflation Rate

2017-2.1%
2018-2.4%
2019-1.8%
2020-1.2%
2021-4.7%
2022-8.0%
2023-4.1%

Fed Interest Rate (beginning of year)

2017-0.5% to 0.75%
2018-1.25% to 1.50%
2019-2.25% to 2.50%
2020-1.50% to 1.75%
2021-1.50% to 1.75%
2022-1.50% to 1.75%
2023-4.25% to 4.50%
2024-5.25% to 5.50%

Employment, wages, GDP and the stock market have all seen better growth under Biden compared to Trump. However, inflation has eaten up most of the wage gains under Biden while wages were outpacing inflation under Trump. Also, interest rates increased significantly in order to tame inflation but that means mortgages, car loans & credit card payments are more expensive.