Economic News

  • Thread starter Thread starter nycfan
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Joe Biden Reaction GIF

Recycling Biden’s responses on the economy is a bold plan for the GOP.

I get it to some extent — the statistics tell a different story from the vibes. But Americans are clearly far more focused on the expense side of their ledgers, and frustrated that their increasing income doesn’t buy anymore than their lower income did in 2019. And in the case of some key items, particularly housing and healthcare, may buy quite a bit less depending on your income bracket. The GOP now and Biden/Dems before them are failing to analyze the data by strata and by comparison to key purchasing power (housing, healthcare, daycare, food, gas, energy, interest on credit cards and mortgages) items rather than across the board.

People aren’t going to celebrate dropping gas prices when the savings are hoovered up by rising insurance (home and healthcare), home energy, rent and interest costs. They see an increase in income and feel farther behind even if they are merely breaking even or slightly ahead. How could that big raise mean nothing?
 
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