June 06, 2024

It is customary to credit different administrations for all the good and bad that happens under their watch. Yet politicians take this reasoning one step further . They would love to take credit for all the good things that happen under their watch and blame someone else for all the bad outcomes that happened under their watch. This is the line of reasoning that the Biden administration is pursuing when it touts all of Bidenomics accomplishments. But most polling on the economy suggests that the voters are parsing the data and have developed alternative interpretation of Bidenomics accomplishments. For example , the results of a recent CBS poll reporting that 65% of voters rate the economy as good during Trump’s presidency, compared to 38% under Biden. The same group found that only 17% believe that Biden’s policies will make prices go down, compared to 44% for Trump and 55% of the people surveyed believe that Trump will do a better job on the economy while only 33% give the nod to Biden. Given the Biden administration interpretation of the economic data it is not surprising that President Biden believes the polls to be wrong. Which explains why people invested in President Biden’s reelection are quite keen to attempt to correct what they perceive to be misperceptions and misinterpretations of economic statistics as reflected in responses to a variety of polls and surveys. As a result , the Biden administration has deployed advocates to tout the economy’s performance under the Biden administration and attempt to convince the voters that their interpretation of Bidenomics is the correct one while simultaneously bemoaning what they believe to be the public discontent is misguided. Yet the alternative Interpretation of the data outlined in this missive provides a straightforward explanation of the data that naturally leads to a simple explanation the polling data results. With the 2024 election season in full swing the voters are focusing on the economic performance of Bidenomics, and they will render a verdict on November 5th. On that day we will find out if Inigo Montoya suspicion was correct. Given that the economy remains a key variable in the voter’s mind, the former President Trump advantage on the handling of the economy will be difficult to overcome no matter how much the president surrogates promote Bidenomics. It seems unlikely that Bidenomics will change the voters sentiments about the economy. If President Biden is to win reelection , he may have to pivot to non-economic issues.

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