As per polls in swing states, over 70% of voters are of the belief that the democrat POTUS Joe Biden is solely responsible for their worsened economic status. I’ve been arguing with no success, that it’s unfair that this perception of President Biden owning their economic woes has taken hold with tepid push back based on facts from democrats and media; and that this has been what’s been the cause of him lagging behind the polls in swing states pre-debate, and NOT President Biden’s age.

Until Democrats get on the band wagon to blitz voters with facts in swing states about the state of the economy under President Joe Biden versus the narrative of lies trumpeted by the GOP MAGA ex-president, the polls for democrat candidates will continue to lag, no matter who their presidential nominee, is. For example, in June 2024, the GOP MAGA ex-president claimed that it’s at “almost 50%” under POTUS Biden, more than twice as severe as reality.”

In summary, no matter who the democrat party’s presidential nominee ends up being, he/she will not win without fully addressing the swing-state voters’ top concern about what they perceive to be their worsening economic well-being due to inflation under President Biden’s administration. Voters need to be informed about all that he has done to alleviate the economic burdens for most Americans and what he will do regarding the issue of inflation.

Remember that about 50% of the American population do not benefit from the stock market boom as they earn less than $50,000 annually.

Currently, Inflation is at 3% and is expected to reach 2% by 2026.

Inflation had hit a high of over 9% in mid-June 2022. It took a year for the US inflation rate to be reduced to anywhere from 3-3.5% for the remaining year, and as of June 2024, it’s at 3%. When POTUS Joe Biden took office in January 2021, inflation was at 1.4%. Voters feel the reality of the higher inflation rates that they’ve been experiencing, even if this reality has been beyond the control of President Biden and that he has moved mountains for average Americans to fix this.

Currently, unemployment rates are at the lowest point in US history since 1969, and wages have risen significantly and are matching the rate of inflation.

“The US monetary authority left rates unchanged this month (July 2024) for the first time since last spring,”

People forget the GOP MAGA ex-president’s abysmal handling of the COVID pandemic era towards the end of his administration. Employment was up during his term, until the economy lost 20.5 million jobs in April 2020, as pandemic containment measures led to business closures and layoffs. When Trump left office in January 2021, employment was still 9.4 million jobs below the February 2020 peak. Under Biden, the economy has gained 15.4 million jobs.

The recession under the ex-president’s administration’s poor handling of COVID issues, contributed to his loss in 2020. Now, the shoe’s on the other foot. FIX IT!

Facts as per below articles:

As per a March 2024 Vox report by Nicole Narea , Biden’s v’s. Trump’s economy, in 8 charts:”

Excerpts:

As per July 2014 Forbes report, “Inflation Hits 12-Month Low 3% As Prices Unexpectedly Drop in June:”

Excerpts:

“Though inflation is far better now than it was during that stretch (April 2021-April 2023), it remains historically high, considering inflation wasn’t above 3% throughout 2012 to 2020. The Federal Reserve hiked interest rates from near-zero to over 5% beginning in March 2022 in response to the jump in consumer prices, roiling as loans like mortgages and corporate debt financing became far more expensive. Monthly CPI releases have thus become must-watch events for financial markets in recent years, as lower inflation bolsters the case for lowering interest rates.”

“General inflation is coming down toward more normal levels, but one key component of the CPI remains extremely bloated: Shelter. Americans paid 5.2% more for rent and monthly homeowner payments last month than they did in June 2023, with the CPI’s shelter subindex increasing a whopping 26% over the last five years. Annual shelter inflation is significantly higher than it was even during the apex of the 2000s housing market bubble. Drastically higher mortgage rates—up from about 3% to 7% over the last three years—still high price tags, and a tight rental market have all contributed to the higher costs for Americans to put roofs over their heads.”

Tangent

“Inflation is among the top voter issues heading into November’s presidential election The ongoing inflationary cycle has almost entirely coincided with President Joe Biden’s term, with the overall consumer price index up 20.6% dating back to Dec. 2020. That’s partially a coincidence given the global nature of this inflationary cycle and 2020’s temporary dip in prices during the beginning of the pandemic, but a majority of voters say they trust Donald Trump more regarding inflation. Trump has spewed numerous falsehoods about inflation, claiming last month it’s at “almost 50%” under Biden, more than twice as severe as reality.”

As per Reuters June 5, 2024 report by Indradip Ghosh, “Fed to cut rates twice this year, starting September:”

Former President Trump ran up the national debt by about twice as much as President Biden, according to a new analysis of their fiscal track records.

Why it matters: The winner of November’s election faces a gloomy fiscal outlook, with rapidly rising debt levels at a time when interest rates are already high and demographic pressure on retirement programs is rising.

• Both candidates bear a share of the responsibility, as each added trillions to that tally while in office.
• But Trump’s contribution was significantly higher, according to the fiscal watchdogs at the Committee for a Responsible Federal Budget, thanks to both tax cuts and spending deals struck in his four years in the White House.

By the numbers: Trump added $8.4 trillion in borrowing over a ten-year window, CRFB finds in a report out this morning.

• Biden’s figure clocks in at $4.3 trillion with seven months remaining in his term.
• If you exclude COVID relief spending from the tally, the numbers are $4.8 trillion for Trump and $2.2 trillion for Biden.

State of play: For Trump, the biggest non-COVID drivers of higher public debt were his signature tax cuts enacted in 2017 (causing $1.9 trillion in additional borrowing) and bipartisan spending packages (which added $2.1 trillion).

• For Biden, major non-COVID factors include 2022 and 2023 spending bills ($1.4 trillion), student debt relief ($620 billion), and legislation to support health care for veterans ($520 billion).
• Biden deficits have also swelled, according to CRFB’s analysis, due to executive actions that changed the way food stamp benefits are calculated, expanding Medicaid benefits, and other changes that total $548 billion.
• Much of Trump’s tax law is set to expire at the end of 2025, and the CBO has estimated that fully extending it would increase deficits by $4.6 trillion over the next decade.

Excerpts:

“Some economists who spoke to ABC News took issue with the blame placed on President Joe Biden as an overstatement of his role in the price spike. Instead, they said, the bout of rapidly rising prices emerged from a supply shortage imposed by the COVID-19 pandemic and exacerbated by the Russia-Ukraine war.”

“Pandemic-era spending measures enacted by former President Donald Trump and Biden also contributed to the price spike, the economists added, but they differed on the share of responsibility that should be apportioned to each of the major party candidates.”

“There’s a long list of reasons for the high inflation. At the top of the list is the pandemic and the Russian war,” Mark Zandi, chief economist at Moody’s Analytics, told ABC News.”

“Some of the inflation owes to the $1.9 trillion American Rescue Plan signed by Biden in 2021, Zandi said. But, he added, “It’s at the bottom of the list.”