Exclusive Harris poll for the Guardian shows 55% believe economy is shrinking, in troubling sign for president’s re-election bid

cross-posted from: https://lemmy.world/post/15676201

Nearly three in five Americans wrongly believe the US is in an economic recession, and the majority blame the Biden administration, according to a Harris poll conducted exclusively for the Guardian. The survey found persistent pessimism about the economy as election day draws closer.

The poll highlighted many misconceptions people have about the economy, including:

  • 55% believe the economy is shrinking, and 56% think the US is experiencing a recession, though the broadest measure of the economy, gross domestic product (GDP), has been growing.

  • 49% believe the S&P 500 stock market index is down for the year, though the index went up about 24% in 2023 and is up more than 12% this year.

  • 49% believe that unemployment is at a 50-year high, though the unemployment rate has been under 4%, a near 50-year low.

  • paddirn@lemmy.worldEnglish
    151·
    7 months ago

    I mostly support Biden, but this isn’t really a surprise. For what seems like years now, it’s felt like all the major news outlets have been running stories about a recession being right around the corner. There will be little bright spots here and there, but otherwise it’s been a constant drumbeat perpetually expecting a recession, PLUS you’ve got layoffs and sky-high prices for rents/houses/consumer goods. The “economy” may be doing good, but it still sucks for the majority of commoners who have to actually live in this country.

    • givesomefucks@lemmy.worldEnglish
      106·
      7 months ago

      The “economy” may be doing good, but it still sucks for the majority of commoners who have to actually live in this country.

      Yeah, the problem is leaders of both parties (and the economists they listen to) just don’t care about normal Americans.

      They care about the wealthy and corporations, and those groups are doing great.

      The politicians/economists are just so out of touch, they don’t understand why anyone cares about anything else.

      Republicans have always done it, it’s just frustrating that Dems do it now too. There’s no valid third option looking out for normal Americans.

      That means turnout will be low, and that’s when Republicans manage to win.

      It’s time to admit that the people running the DNC just don’t know what the fuck they’re doing, and they shouldn’t be running a hotdog stand, let alone the only thing standing between America and outright fascism.

      • retrospectology@lemmy.world
        3·
        7 months ago

        Best bet is to try and support politicians based on the money they take during their campaign. It’s the only real way to distinguish Democrats masquerading as “left leaning” with nice soeeches and rhetoric and ones who actually are.

        I always plug opensecrets.org for that since it makes it pretty easy to just go to the campaign finance section, search a politician and see exactly where the majority of their funding comes from. Those are the groups they’re going to try and please. It’s why people like Sanders and AOC are free to actually speak the truth for the most oart, they’re only behokden to the normal people who fund their campaigns with small donations.

        Opensecrets also gives a lot of good information that breaks down how to effectively research campaign finance.

        Money always tells the truth.