The fight against rising prices has essentially been won. But few in the electorate seem aware.

Summary

President Joe Biden’s economic achievements—lowering inflation, reducing gas prices, creating jobs, and boosting manufacturing—are largely unrecognized by the public, despite his successes.

His tenure saw landmark legislation like the Inflation Reduction Act, CHIPS Act, and major infrastructure investments.

However, Biden’s approval ratings remain low, attributed to inflation backlash, weak communication, and a media landscape prone to misinformation.

Democrats face a “propaganda problem” rather than a policy failure, with many voters likely to credit incoming President Trump for Biden’s accomplishments due to partisan messaging and social media dynamics.

  • ryathal@sh.itjust.works
    12·
    22 days ago

    The Act is not generally believed to have reduced inflation in 2022 and 2023,[13][14]

    Directly from Wikipedia

    More directly it essentially printed 900 billion more dollars at a time when spending should decrease. There’s forecasted payback eventually, but no significant amount has happened yet, but the money is already gone.

    • rigatti@lemmy.worldEnglish
      2·
      22 days ago

      I’d argue that its name was somewhat deceptive (like most congressional acts) but that the money largely went to projects that are beneficial for the country. Also, the next section on Wikipedia talks about how the overall deficit reduction would lower medium-term and long-term inflation. I think in general, when money is allocated to things like this, it takes a long time to payback since the money has to first be disbursed and then the projects completed for the results to actually be felt.