Biden Suggests Americans Unhappy With The Economy Are ‘Disconnected’ From Reality
Daily Caller | November 16, 2023| Reagan Reese
President Joe Biden suggested Thursday that Americans who are unhappy with the economy are experiencing a “disconnect.”
Biden touted a variety of economic statistics during a speech at the Asia-Pacific Economic Cooperation (APEC) summit on Thursday, before acknowledging that the American people feel a “disconnect” between the “numbers, and how people feel about their place in the world right now.” As Biden and his administration continue to insist “Bidenomics” is a success, 61% of Americans are living paycheck-to-paycheck and 75% of U.S. adults think the economy is in a “fair” or “poor” state.
“The last quarter the American economy grew 4.9%. The highest growth rate in two years,” Biden said during his Thursday speech. “More people in the United States are in the workforce today than any time in American history. Unemployment has been under 4% for 21 straight months. Inflation has come down by 65%, and more to do. I mean, we know have lowest inflation — lowest inflation rate of any advanced economy in the world. Meanwhile, median household wealth has grown by 37% in real terms since before the pandemic.”
Despite Biden’s repeated touting of the economy, the American people are not viewing this situation the same way. Sixteen percent of Americans believe the economy is getting better while 56% of U.S. adults say the economy is getting worse, according to a September YouGov Poll.
“I acknowledge there’s a disconnect between the numbers, and how people feel about their place in the world right now,” Biden continued during the speech.
“We can deal with the second part as well,” Biden added. “We still have work to do.”
Two Comments:
…because 8% home mortgage interest rates are sooo much better than 2.5% and $3.00 per gallon gas is sooo much better than $1.70 (for starters).
And we are the ones who are disconnected???
They are just a tad under 7 in my neck of the woods. I remember the joy we had when we refinanced at 7% back in the day. We had to get a 15 year mortgage to do it and it stretched resources, but we were thrilled we could go from 12 to 7. Oh and we had great credit scores.