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.

  • retrospectology@lemmy.world
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    6 months ago

    Biden does represent part of the problem because he is, by any real measure, a slightly less extreme Republican. Still a great defender of corporations, most of the legislation he helped champion during his term has literally just been no-strings corporate handouts dressed up with nice sounding names.

    Whether you support Biden or not, it’s important to be honest about what he is and the part he’s played in this not just during his presidency, but over his career as a senator.

    • BraveSirZaphod@kbin.social
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      6 months ago

      If you think Biden is only “slightly less extreme”, you really need to take another look at the Republican party, given its leader is casually suggesting sending out secret police to round up undocumented immigrants into camps.

      Even restricting the view to economic policy, the gap between the average Republican and Democrat in office has been growing much much larger compared to the old 90s consensus. Both parties have grown critical of free trade, with Republicans going much further and wanting to throw huge tariffs on any country that feels icky (and somehow thinking that jacking up prices on all imported goods will improve inflation*). Republicans have also grown extremely fond of attacking any corporation they perceive as being too woke or socially aware, even going so far as to invoke the powers of supposedly-small government to ban certain diversity practices.

      Both parties have become relatively protectionist, but Republicans tend to be against any form of actual domestic investment. On housing, pretty much all supply-side solutions (which you’d think would come from the supposedly market-loving Republicans!) are instead coming from the Democrats, with the Republicans instead reducing essentially everything to culture wars.

      Again, look at the Republican party as it actually is today, because they largely do not have any substantial policy beyond stoking white conservative rage. I’m not saying mainstream Democrats are revolutionary champions of the working poor, but there simply is no competition compared to the Republicans of today.

      • Cosmonauticus@lemmy.world
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        6 months ago

        I think they meant on the political spectrum Biden is still right of center. Something that is entirely true and ppl find problematic. Just because Biden doesn’t cry about bullshit like wokism and whine about the border doesn’t mean the guy isn’t politically conservative