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by Liz Wolfe
Reason.com
What pundits say: “Joe Biden is, at the moment, losing his reelection campaign,” wrote The Atlantic’s Annie Lowrey in a piece this week. “And he is doing so while presiding over the strongest economy the United States has ever experienced.”
Lowrey cites the low jobless rate—under 4 percent!—and higher wage growth than we experienced during Barack Obama’s administration. “Inflation has cooled off considerably,” she adds, “meaning that consumers’ purchasing power is strong.”
This argument isn’t unique. Pundits have, of late, been scratching their heads trying to figure out why President Joe Biden is polling so poorly when the recession never really materialized, and inflation was tamed (even if that means interest rates must remain high for a while longer). Some of this may be due to the fact that the economic indicators are actually all over the place, and do not paint a consistently rosy picture despite the credit many are attempting to give Biden.
