294
Majority of Americans wrongly believe US is in recession – and most blame Biden
(www.theguardian.com)
this post was submitted on 22 May 2024
294 points (88.9% liked)
politics
19120 readers
2592 users here now
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive. Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Economists call this a K shaped recovery. People at the top of the economy stop being in a recession. People at the bottom of the economy stay in the recession. Net, it looks like a recovery.
Except it's literally the opposite of that - wages at the top are not keeping pace with inflation (whether to blame Biden for the massive 2022 inflation spike is a somewhat different story), but wages at the bottom are increasing, even outpacing inflation. All the lines are squeezing together.
Those lines have been diverging for over a generation. You'll need a vice grip the size of the Grand Canyon to squeeze hard enough make any real world difference.
Absolutely accurate. Also means it's kind of silly to kick out (with no plan for a better replacement, and with specific plans for something much much worse) the guy who actually vice gripped them together by a little bit, though, or assert that he's hurting everyone on purpose and that they're actually still going apart and that's his fault and if you try to tell me any different then (hostility).
Usually, economic policies on the scale of the whole country take quite a while to kick in and really produce significant improvement even when you can get them through congress (which, a bunch of his more aggressive than this stuff, he couldn't).
That isn't what your graph says at all
Want to explain a little more?
Unless you think black Americans make up the entirety of poor people that has nothing to do with high vs low income.
Saying it has "nothing" to do with it is wrong; they're so deeply connected that you might as well use either or both, since racial disparity is fundamental enough to the American economy that they give the same answer.
But sure, it's fair to ask for something specifically about income level instead of by race; here's one by percentiles and here's the GINI coefficient over time.
Goddamn people will upvote anything