Inside the White House, confidence grows that a strong economy will sell itself to Americans

[BumRushDaShow]

Source: NBC News

Jan. 27, 2024, 5:36 PM EST


After a year of recession doomsaying, an unexpectedly resilient economy is boosting the White House as it ramps up selling its record to Americans who’ve just started shaking off their “vibecession.”

At the same time, senior administration officials say they’re increasingly confident the situation on the ground can largely speak for itself. The economy grew at a strong 3.1% pace between the fourth quarter of 2022 and the same period last year, every inflation measure is cooling, the job market remains strong and the stock market has hit record highs.

“Extraordinary” is how Lael Brainard, director of the National Economic Council, described the economy to reporters at the White House on Friday. “We looked historically — we’ve never had a year where inflation has declined this fast while the economy has grown above trend and unemployment has remained stable at a low rate,” she said.

Jared Bernstein, chair of the White House Council of Economic Advisers, said in an interview Friday that the economy is “a growth machine that keeps on delivering,” fueled by a tight labor market, robust consumer spending and rising real wages. And in a speech Thursday at the Economic Club of Chicago, Treasury Secretary Janet Yellen boasted that the United States “now produces far more goods and services than it did before the pandemic,” on the heels of a recovery she called the most equitable on record.

Read more: https://www.nbcnews.com/politics/2024-election/white-house-hopes-rise-strong-economy-will-sell-rcna135765

[elleng]

1. IF it were only so. MIGHT have been, years ago,

but 'these days,' I don't think ANYTHING 'sells itself,' and I HOPE Dems and WH are not 'just' relying on economy (or anything) to 'sell itself.'

[Fiendish Thingy]

5. ...and yet, consumer sentiment has improved markedly in the past month or so

Without hardly a peep from the media until this past week, so the benefits of Bidenomics must be seeping into the consciousness of the average American.

[elleng]

6. Yes but even tho benefits of Bidenomics are seeping out,

the next steps must be made, that is, actively into consciousness and MUST BE CONNECTED to actions and decisions of President Biden (and his administration.) Doesn't just happen.

[CTyankee]

9. I agree but the problem is that consumers see prices also rising and they feel it when they check out at the supermarket

People are feeling their reality, what they experience every time they food shop.

[groundloop]

2. Me in 2016: "Trump will NEVER set foot in the White House !!!!! "

I certainly hope that Biden's team knows enough not to count on this selling itself to America and keeps pushing to get the message out there. AND be relentless in attacking 45* from all sides. We can take nothing for granted.

[elleng]

3. YES!

[ificandream]

4. I think we (everyone) all got spooked enough in 2016 that we won't let that happen again.

I think a lot of Republicans will grit their teeth and vote for Biden. The only thing in the way is the Fox propaganda machine. Maybe by November Smartmatic will have put them out of business.

[Rebl2]

15. I am sure

Biden’s team knows this. They know they have to keep attacking 45, they need to fight for women’s right to choose. trump wants to be a dictator so he can do away with voting all together, do away with his enemies (in other words, kill them), take away social security as well as Medicare and Medicaid.

[LiberalLovinLug]

7. Shades of 2016

Obama got the economy back after Bush took it into a ressession. Which is why the GOP did not run on the economy. But on made up scandal amplified by the RW media.

It didn't matter in Hillary's case, and it won't matter in Biden's. My gawd I hope this is The Onion and not what Democrats are actually going to fall back on.

[RainCaster]

8. WTF? Compared to 2020, I'm screwed

Four years ago, my salary was 50% higher. Gas sure wasn't this high, and neither was bank interest rates. Food costs a lot more now, too.

[Elessar Zappa]

12. Most Americans make more than they did in 2020.

And gas in most places is lower than it was four years ago. Purchasing power has progressed faster than inflation and that’s a fact. Anecdotal stories don’t disprove facts.

[RainCaster]

13. I know I'm an anomaly

Getting laid off two years before I retire was not good for me. But there's no way I would ever vote for a Republican, even for dog catcher.

[EarthFirst]

10. Sure wish they'd hammer on housing & groceries...

…and the reasoning behind their meteoric rise.

This is what is driving the discussion on the ‘woes’ of the economy; and has ZERO to do with policies the Democrats have fostered or put in place.

[Beartracks]

11. Democrats and Biden Administration - toot your horns and tout your achievements. Don't assume...

.... anything.

=================

[LudwigPastorius]

14. Don't ever let a good economy "sell itself".

Hammer it home to voters. That's the only way to counter the lies coming out of the Republican camp.

[andym]

16. Problem has been that the economy has been too strong growth wise

The Fed expected a recession due to interest rate hikes to cool off demand and lower inflation even more. Nevertheless, inflation appears under control. However, some key consumer items could benefit from deflation: gas and food. High interest rates are holding back some inflationary forces, but the Fed has suggested it might cut interest rates this year modestly, which would jump start the housing market. I think the keys are low gasoline prices going into the summer, and declining food prices coupled with a little more friendly interest rates for mortgages. That should help Joe Biden immensely, who is likely to run on Bidenomics-- would love to hear: "It's morning in America again."

[SKKY]

17. I hope this isn't what it sounds like...

...which is complacency.

[BumRushDaShow]

18. The last 2 paragraphs in the OP article excerpts

have 3 "officials touting the progress" in speeches and interviews.

The OP article also included this (I suppose as an example of forcing some to see "reality" and dispel the "recession recession recession" nonsense that the business media pushed the past 3 years) -

Some business owners who spent last year battening down the hatches for a recession were pleasantly surprised that it never came.

Josh Burg, who owns a glass manufacturing company called Glass Enterprises in Bensalem, Pennsylvania, said the persistently strong economy caught him off guard. Having braced for a slowdown last year, he instead wound up hiring more workers, taking on new business and growing both his top and bottom lines. He gives the current economy a grade of A- and said he would hire even more people if he could find them.

Democrats are battling the negativity noise (including from its own membership) and it needs to be emphasized that the argument about "complacency" is invalid.