President Biden’s reelection sales pitch has focused on his recent run of strong economic data, but anger and anxiety over inflation and sky-high grocery store bills have caused many voters to tune out his message.
Mr. Biden is reminding voters that inflation is easing, business investment is on the upswing, the job market remains historically strong and it appears he may have avoided an expected recession.
Still, the president remains underwater on his handling of the economy, with more voters giving him poor marks than credit. Strong economic data has continued to pile up since last summer, but it hasn’t dented consumer pessimism over what the president has dubbed “Bidenomics,” a catchall term for his economic agenda.
An ABC News/Ipsos poll released this week found that only 31% of those polled approved of Mr. Biden’s handling of the economy, while his disapproval rating was 56%.
“The main reason American households are pretty upset with the administration’s handling of the economy is the massive increase in the cost of goods and services,” said Alex Salter, a professor of economics at Texas Tech University. “It’s great that unemployment isn’t higher, but if your take-home pay isn’t covering as much as it did, you are not going to feel the economy is working for you.”
Still, Mr. Biden keeps leaning into his economic achievements in hopes it will register with voters. He made the case for Bidenomics again during a stop Thursday in the swing state of North Carolina as part of his “Investing in America Tour.”
There, he touted his administration’s investment in high-speed internet as a key to economic development.
Mr. Biden said the fiber optic cables for high-speed internet would be manufactured in the state, fulfilling his pledge to create new jobs and revive the economy.
“When jobs grow, everything grows,” the president said, linking his job creation record to the overall economy.
The message comes as the administration has been basking in positive economic news. Employers added 216,00 jobs in December and the unemployment rate held steady at 3.7%.
Inflation has cooled, with prices rising 3.4% in December compared with the year before, a steep drop from the 6.5% price increases that shocked consumers in December 2022. Inflation has shrunk without a recession, a feat once deemed nearly impossible by economists.
Wages are also on the rise and are on a pace to outpace inflation in 2024, according to early U.S. Census Bureau data.
Yet Americans remain dour about the economy. The University of Michigan’s Index of Consumer Sentiment found that people’s view of the economy still remains well below previous years.
Douglas Wilson, former deputy executive director for the North Carolina Democratic Party and current chairman of the New Rural Project, said Mr. Biden needs to do a better job linking his economic achievements to tangible goals that people can see in their lives.
“He needs to remind the American people that the economy is more than just the prices at the grocery store or gas station,” he said. “It’s literally something that affects everyday life in every sector. He needs to tell people how he improved the economy by doing things like lowering prescription drug prices, which puts more money in their pockets.”
• Jeff Mordock can be reached at jmordock@washingtontimes.com.
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