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Dulcinea

(6,661 posts) Sat Mar 30, 2024, 11:22 AM Mar 30

Obama, Clinton on why Americans don't love the Biden economy

NEW YORK, March 28 (Reuters) - Former presidents Barack Obama and Bill Clinton dug into an issue that has vexed economists, political strategists and the White House on Thursday - if the U.S.'s fiscal numbers are so good, why are Americans so unhappy about the economy?

Speaking at a high-dollar fundraiser for President Joe Biden at New York's Radio City Music Hall, Obama and Clinton urged thousands there to stick with the Democratic president for a second term, while trying to pin down the reasons economic concerns are high despite job growth, healthy spending and better-than-expected GDP increases.

-snip-

The thing Biden and the people who support him need to communicate is: "Who do you think is actually going to look out for you?" Obama said. He made clear he did not think former President Donald Trump, the Republican presidential candidate, would meet that test.

https://finance.yahoo.com/news/obama-clinton-why-americans-dont-034538564.html?.tsrc=940%2619908-1202929-20240330-0&segment_id&ncid=crm_19908-1202929-20240330-0&bt_user_id=lRcKDAi46r66L54urHdbhzIuU7VUF5pPu0mnEIeuf3eaIrz4%2FJbpmVSmyM%2Ba89H0&bt_ts=1711802601579

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Obama, Clinton on why Americans don't love the Biden economy (Original Post) Dulcinea Mar 30 OP

Dog food and cat food prices. They make pet owners shiver. blm Mar 30 #1

What I see Timewas Mar 30 #2

The rent is too high. Marcus IM Mar 30 #3

Your mortgage numbers are for new mortgages. Igel Mar 30 #5

Yep. I get that. Marcus IM Mar 30 #6

Clinton is just so good at explaining things. shrike3 Mar 30 #4

blm

(113,091 posts)

1. Dog food and cat food prices. They make pet owners shiver.

Reply to Dulcinea (Original post)

Sat Mar 30, 2024, 11:29 AM

Mar 30

Forget about the meat aisle.

Sorry to say, this is what I see in the grocery store. The worry and hesitation in the faces of people, especially retirees, is not easily masked.

Timewas

(2,196 posts)

2. What I see

Reply to Dulcinea (Original post)

Sat Mar 30, 2024, 11:41 AM

Mar 30

job growth, healthy spending and better-than-expected GDP increases.

None of these are really much interest to someone paying for the increases in gas and general food or medical costs. Wall Street success has little real life effect on the majority of the population.

Their supposed low inflation overall is so far off the real costs as to be immaterial.

Marcus IM

(2,223 posts)

3. The rent is too high.

Reply to Dulcinea (Original post)

Sat Mar 30, 2024, 01:15 PM

Mar 30

Igel

(35,356 posts)

5. Your mortgage numbers are for new mortgages.

Reply to Marcus IM (Reply #3)

Sat Mar 30, 2024, 05:30 PM

Mar 30

They're a small minority of all mortgages at the present.

But declaring incipient poverty for some cohorts is a bit premature: Trends were pretty predictive and snapshots weren't:

https://www.stlouisfed.org/on-the-economy/2024/feb/millennials-older-gen-zers-significant-wealth-gain-2022

https://economistwritingeveryday.com/2024/01/24/young-people-have-a-lot-more-wealth-than-we-thought/

Some is COVID subsidies, but Gen X are more likely to be able to work from home and have good benefits.

Marcus IM

(2,223 posts)

6. Yep. I get that.

Reply to Igel (Reply #5)

Sat Mar 30, 2024, 06:36 PM

Mar 30

shrike3

(3,795 posts)

4. Clinton is just so good at explaining things.

Reply to Dulcinea (Original post)

Sat Mar 30, 2024, 02:01 PM

Mar 30

Obama's no slouch either, but I've always admired how Clinton can take topics that are quite complex and boil them all down to what anyone can understand.

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