Biden Struggles To Convince Voters Of Economic Strength

A Guardian/Harris poll has exposed one of President Biden's major vulnerabilities of 2024 - voters are unconvinced that the US economy is performing well, despite some positive economic data.

• The survey notes: "55% believe the economy is shrinking, and 56% think the US is experiencing a recession, though the broadest measure of the economy, gross domestic product (GDP), has been growing.
• "49% believe the S&P 500 stock market index is down for the year, though the index went up about 24% in 2023 and is up more than 12% this year.
• "49% believe that unemployment is at a 50-year high, though the unemployment rate has been under 4%, a near 50-year low."
• The report demonstrates that voters are reluctant to overlook persistent price increases despite data pointing towards a resilient economy. The report may prompt more accusations that Biden's message is "tone deaf" considering the pocketbook concerns of voters.
• FT writes: "Biden’s messaging risks negating the experience of voters on the ground, and can raise doubts over his grasp of the economy. That is not a good look for the campaign, particularly with pandemic-era stimulus cheques, bearing Donald Trump’s name, still fresh in the memory. Getting the tone right matters when snippets can go viral on social media."