Suddenly, It's Not The Economy Anymore

[babylonsister]

Suddenly, It’s Not The Economy Anymore
Published by digby on October 11, 2024
Are people talking about it much? Not really. But the good news does seem to have caught up with some voters at least.


Cathrine Rampell at the Washington Post writes:

snip//

Some recent surveys have even found the candidates in a dead heat on economic issues. A recent Cook Political Report poll of swing state voters, for instance, found Trump’s advantage on “inflation and the cost of living” had evaporated completely.

This is remarkable. For most of the past decade, voters overwhelmingly trusted Republicans more on economic issues. They’ve been bummed about the economy during the Biden-Harris administration, often citing the economy or inflation as their top issue.

So how has Harris narrowed the gap?

Trump probably hasn’t helped his case by pitching ever-higher global tariffs, which would probably be passed on to consumers in the form of higher prices. Independent economic analyses have also found that the rest of his agenda (mass deportations, politicizing the Federal Reserve, etc.) would probably worsen inflation and depress growth. The downstream consequences of these policies are not always intuitive, however, so they might not have influenced voters’ perceptions of Trump’s economic agenda all that much.

snip//

Meanwhile, Harris has managed a “pivot” on the economy. Her policy approach has been directionally similar to Biden’s (she has proposed higher taxes for the wealthy, manufacturing subsidies, a more generous child tax credit, punishing greedy corporations, and so on). Her tone or word choices so far appear more successful than Biden’s, though. As Ben Mathis-Lilley recently wrote in Slate, Harris has subtly shifted public discourse away from past “inflation” and toward a more forward-looking discussion of the “cost of living.”

But the biggest reason for Trump’s shrinking lead on the economy may have little to do with either candidate: The U.S. economy is just doing spectacularly well.

more...

https://digbysblog.net/2024/10/11/suddenly-its-not-the-economy-anymore/

[underpants]

1. It's generally remarkable for a Dem to be near a Repub on economic issues

Much of that is perception which the Repubs have dominated.

I like the twist to “cost of living”. I wonder how increases in traditional lower income jobs have on this. My daughter is taking this semester off from work but she probably wouldn’t consider a job that paid less than $17-18/hour (Virginia min. is $12) given her experience. She became a key holder at her first job within 9 months of starting.