MIG Reports data shows a very dismal economic situation for Americans in 2024 with much despair and blame focused on the Biden-Harris administration. In brevity, Americans are struggling. Reports from the Bureau of Economic Analysis’s (BEA) on American incomes, combined with voter conversations about the economy, paint a concerning picture.

Many Americans, especially free market capitalists and fiscal conservatives, blame hypocrisy in current policies. They say, despite claims that Democrats are a Party for the working class, under the Biden administration, the rich are getting richer. BEA data legitimizes voter allegations that Biden-Harris policies are worsening the conditions they claim to fight against.

Americans Depressed About the Economy

Many Americans, especially middle- and working-class, say their take-home pay is lower than it was pre-COVID. Inflation and the rising cost of living are major concerns, overshadowing nominal wage increases.

Critics of the Biden-Harris administration refer to the current situation as a result of "Bidenomics," and more recently "Kamalanomics." They cite economic mismanagement and a lack of desire from Democrats to enact policies to help struggling Americans.

Democratic supporters point to legislative measures like the Inflation Reduction Act as steps toward economic recovery. However, this group seems unaware of or unwilling to admit the true results and revisionism around the IRA.

Tax policy is a contentious topic as voters debate the impact of previous tax cuts versus current proposals. The conversation often centers on political accountability and policy effectiveness, with conservatives wanting accountability from Democrats and progressives accusing Republicans of ineffectiveness.

On both sides of the political aisle, there is negativity and despair about current economic conditions, despite Democrats claiming signs of recovery.

Inflation Squeezes Working Families

The press of rising inflation causes frustration and a sense of helplessness over declining financial well-being compared to pre-COVID times during the Trump administration. Many people say they are earning less in real terms due to higher living costs, particularly in essentials like gas, groceries, and housing.

Progressives attempt to justify the economy and praise efforts like the Inflation Reduction Act, but the predominant sentiment is disillusionment. Conversations are highly polarized, with critics blaming Biden for mismanaging the economy. Supporters point to job growth and other positive developments—however these apologists tend to be among the elite or commentary class, rather than working Americans.

Fiscal Policy Criticisms

Discussions about fiscal policy focus on Biden’s narrative about inflation, job creation, and the overall economy. Americans are split between optimism about recent improvements and criticism over inflation and rising costs.

Democratic supporters recite administration talking points on inflation reduction, job creation, and infrastructure investments. They refer to the Inflation Reduction Act as a positive step, telling Americans to look on the bright side.

Critics, however, argue inflation realities defy any claims about mitigation by the Biden administration. They say real financial burdens on families have increased, regardless of what government reporting and policy pandering claims. Everyday Americans frequently blame policy failures in areas like immigration and crime as contributing to their struggles.

Many Americans also compare the Biden economy with Trump’s economy. This is a recurring point because many nostalgically view Trump's era as a time of economic prosperity.

Why Americans Are Making Less

Rising Costs: Inflation has drastically increased costs. The price of essentials continues to rise to shocking levels. Americans frequently lament the cost of groceries, gas, housing, insurance, and childcare.

Stagnant Wages: In most sectors, wages have not kept up with inflation. Thus, even if they receive a higher paycheck, Americans suffer decreased purchasing power.

Economic Inequality: Many in the wealthier classes continue to accumulate financial gains. Meanwhile, middle- and lower-income brackets are struggling to make ends meet.

Uncertainty: Ongoing financial strain and a lack of savings or disposable income is putting pressure on American households. This creates anxiety and fear about the future and prospects for younger generations.

NIPA Data Analysis

Data from National Income and Product Accounts, which are gathered by the BEA, corroborate the feelings of financially strained Americans. MIG Reports analysis of this data, combined with voter conversations, reveals legitimate causes for American concern.

Income Inequality: Data clearly shows significant income inequality, with the top 10% of earners consistently holding a large portion of total personal and disposable income. This demonstrates that wealth and income gains primarily benefit the highest earners, leaving lower and middle-income families to flounder and struggle to pay their bills.

Stagnant Middle Class: Middle-income brackets, between 20-70%, are experiencing minimal changes in their share of income, indicating a lack of significant financial mobility. This stagnation causes a sense of financial insecurity and the middle class feeling they are not benefiting from overall economic growth.

Lower-Income Falling Behind: The lowest 10% of households have the smallest shares of personal and disposable income. This exacerbates ongoing challenges for the poorest families who cannot make ends meet. Despite slight improvements in disposable income, inflation costs hit this group the hardest, negating any gains.

Tax and Policy Implications: Disposable income distribution is slightly less unequal than personal income distribution. This suggests taxes and government transfers do have some redistributive effects. However, the impact appears insufficient to significantly alter the overall distribution of income, underscoring economic pressure on the lower classes.

Visualized Data and Analysis

When household spending growth outpaces GDP growth, it often indicates middle-class families are spending more due to rising living costs. This typically strains household budgets, especially if incomes do not increase at the same rate. These periods can lead to inflationary pressures, eroding purchasing power and straining household finances. Economic volatility, as seen in the fluctuations of the growth rates, creates uncertainty and can affect job security, impacting the stability of middle-class households.

The chart shows how inflation is impacting the cost of personal consumption expenditures (PCE), goods, and services over time. From early 2022 to mid-2024, both the PCE and services indices have consistently increased. This indicates prices for services like healthcare, education, and utilities are rising steadily.

Many Americans note they have been spending more overall, especially on services, without a change in quality of life. Services are a major component of daily expenses and things like healthcare and education are often not optional.

These inflation trends are foreboding for middle-class families as their cost of living is increasing. The rising costs of services, many feel, are outpacing meager wage increases, which reduces purchasing power and lowers quality of life.

The chart compares Real Personal Consumption Expenditures (Real PCE) with Nominal Personal Consumption Expenditures (Nominal PCE). It shows that, even if households spend more money than before, they are not necessarily getting more goods or services because prices have risen. This trend highlights the impact of inflation on purchasing power, making budgets tighter since dollars don’t buy as much as they used to.

The chart displays the distribution of personal income from 2015 to 2022, showing how different income brackets have changed over time. In 2022, a larger share of total income went to the top 10% of earners compared to 2015. This illustrates the widening gap between higher-income and lower-income households. Income shares for the middle and lower brackets remain relatively stable or decrease slightly. The top income bracket (90-100%) has seen an increase in their share, indicating the wealthiest individuals are capturing more of the overall economic growth. This trend highlights growing income inequality, where the rich are getting richer, and middle- and lower-income families are falling behind.

The chart shows the distribution of disposable income from 2015 to 2022 across different income brackets. The top 10% of earners have seen an increase in their share of disposable income over this period. This reveals more of the available income after taxes and transfers is concentrated among the wealthiest Americans.

Meanwhile, the share of disposable income for middle- and lower-income brackets has either stayed the same or decreased. These groups are not benefiting as much from income growth. This trend highlights growing income inequality, where wealthier households are capturing more disposable income, leaving less for the rest of the population.

This data backs ups lamentations from average American families who say they struggle to keep up with rising living costs. Many say the current economy is crushing their ability to save or spend on non-essential goods and services. Overall, this chart emphasizes the increasing concentration of wealth and the widening gap between different income groups.

Online conversations about Gen Z and Millennial Americans’ retirement prospects reveal anxieties about stability and future financial security. The younger generations harbor severe skepticism about their financial situations and the trajectory of the economy. They are critical of government and leadership actions, especially the Biden-Harris administration.

Retirement? I Can’t Afford Food

When thinking about the future, people talk about inflation, taxation, employment, and energy policies. One prominent concern is increasing inflation, which many attribute to legislation like the Inflation Reduction Act (IRA). Many view the IRA as exacerbating rather than alleviating inflationary pressures.

Others repeat government talking points that Democratic policies have been instrumental in curbing inflation. They reference statistics like the lowering of inflation to 2.5% over the past year.

Younger voters constantly worry about the rising cost of living. There is widespread sentiment that everyday expenses like gas, groceries, and housing, have outrageously unaffordable. Many attribute this surge in costs to the economic decisions made by the federal government.

Americans particularly criticize federal spending on various relief and infrastructure bills. These discussions prominently mention the adverse effects on average American households. They say financial strain is significantly hindering their ability to contribute to retirement savings and long-term financial planning.

Taxes are also a huge topic among younger voters, although many are split in their views on tax policies. Some express concern about increasing tax burdens, particularly related to Democratic plans to eliminate Trump-era tax cuts. People mention potential hikes and wealth redistribution through social programs, which they say disproportionately affect the middle and lower economic classes.

Trending keywords include:

• Inflation
• Taxes
• Cost of living
• Bidenomics
• Inflation Reduction Act
• Job market
• Social Security
• Economic policies

Sentiment Patterns

Voter sentiment is mostly negative about the current economic climate. This is especially pronounced with criticisms of the Biden-Harris administration's handling of economic policies, inflation, and national debt.

Demographically, the critiques appear to span various regions and economic classes, with large numbers of middle-class and working-class Americans expressing dissatisfaction. Millennials and Gen Z voices are prominent, expressing concerns about the future. They mention things like student loan burdens, job market uncertainties, and the feasibility of homeownership and retirement savings plans.

Geographically, sentiments fluctuate across both liberal and conservative states. However, there does seem to be a national preoccupation with economic issues. While sentiments occasionally vary, the core concerns of rising costs and economic instability appear to be universal.

Discourse and polling among young men reveals a burgeoning inclination to support Donald Trump over the Democratic ticket in 2024. This trend is capturing national attention, notably influencing public debates and media narratives. Analysts are examining whether this phenomenon signifies a larger shift among younger demographics or reflects a specific partisan appeal.

Trending Topics

A significant focus lies on economic grievances, particularly those affecting young voters. Commentary often highlights the high cost of living, with housing affordability as a primary concern. Young voters frequently express frustrations over soaring rent prices and the challenges of homeownership in current economic conditions. Phrases such as "can't afford to buy a house" and "housing prices are unbelievable" often surface, capturing their financial stress and dissatisfaction with the status quo.

A recent Truth Social post by Donald Trump speaks directly to this concern. Many young voters appreciate messaging like this, which contrasts with Democratic promises of future change, despite holding current office.

Sentiment Trends

Voter sentiment on the economy, and specifically housing, is overwhelmingly negative. There is disillusionment and anger toward current economic policies from Joe Biden and Kamala Harris.

Young voters associate their economic hardships with Democratic leadership, expressing a preference for policies they believe would alleviate their financial burdens. Comparisons to the economic environment under Trump are prevalent, with many arguing during his administration, they experienced more financial security and housing affordability. This underlying sentiment indicates a belief that the previous administration's policies better supported their economic aspirations.

Many view the Biden-Harris administration's efforts in areas like student debt relief and housing reforms as insufficient or out of touch with their realities. While some acknowledge measures like student debt forgiveness, these efforts are seen as inadequate compared to the broader economic pressures they face daily, particularly in housing.

However, despite being the current vice president, it is possible the public doesn’t completely equate Harris with current housing problems caused by the Biden administration. This suggests Republican messaging should continue to highlight links between the existing administration and more of the same if Democrats win.

Urgent Timing

The intersection of these economic themes with broader political narratives further fuels the discourse. Comments indicate a perception that Democratic leaders are more preoccupied with social issues and political maneuvers than addressing immediate economic concerns. This disconnect exacerbates the frustration and propels the appeal of Trump if he promises economic revival and stability.

In this context, young men’s increasing support for Trump is framed as a pragmatic choice rooted in economic self-interest. They articulate a desire for a return to what they perceive as a more robust economic period in their lifetime. This sentiment is bolstered by shared experiences of financial strain under both Biden and Obama during the Great Financial Crisis. This fosters a belief that conservative economic policies might offer more tangible relief.

The Trump Economy

Public discussions also reflect nostalgia for the perceived economic benefits of Trump's tenure. Phrases expressing longing for past conditions, such as "Trump years were much better" and "affordable housing under Trump," encapsulate this sentiment. These expressions are not merely backward-looking but reveal a substantive critique of current economic policies and a hope for future improvement under a similar leadership style.

MIG Reports shows a key demographic for the 2024 presidential election is likely to be white men in rust belt states like Wisconsin, Michigan, Pennsylvania, and Minnesota. For many in these states, economics is the most important issue.

White men are not the only voter group—and not the majority. However, there are several winning issues for Trump among this group. In critical swing states where support is tight and sentiment may be threatened by a Kamala Harris candidacy, issues swaying white men could potentially overlap with other voter priorities.

While conservative values and traditional ways of life do not seem to resonate across all demographics, negative economic sentiment, with strong messaging against Biden administration policies, may translate to other voter groups.

Economics

Wisconsin

White male voters in Wisconsin continue to be a significant demographic influencing election outcomes. These voters prioritize economic issues like job security, tax rates, and the cost of living. Manufacturing sector stability, which is affected by trade policies and economic shifts, is crucial to this demographic.

Despite the inclination toward traditional Republican values, concerns over healthcare affordability and social services prompt a nuanced voting pattern. This group's likelihood to vote is relatively high, driven by a sense of civic duty and concern over economic stability and governance.

Michigan

The white male demographic in Michigan is primarily concerned with economic recovery and job growth—especially in the automotive industry, which has historically been the backbone of the state's economy. Key economic issues include trade policies, tariffs, and the impact of automation.

Economic distress in struggling communities elevates concerns over inflation and healthcare costs. This group is highly motivated to vote, energized by economic performance metrics and policies affecting industrial growth and job security.

Pennsylvania

In Pennsylvania, white male voters are significantly influenced by economic issues, notably those impacting the energy sector, such as fracking and coal mining. High priorities for this group include job creation, tax policies, and energy independence.

The rural-urban divide strongly influences voter alignment, with urban voters leaning more towards concerns about healthcare and social services. This demographic shows high voter turnout, often driven by direct economic impacts felt in their communities and a strong desire to influence policies on energy and industry regulations.

Minnesota

White male voters in Minnesota are primarily concerned with economic stability, taxation, and the cost of living. Issues such as healthcare, education, and social services also play a role due to Minnesota's relatively high standard of living and educational attainment. Economic policies affecting small businesses, agriculture, and the tech industry are significant motivators.

The likelihood of this demographic to vote is high, influenced by strong social and political engagement traditions in the state and immediate concerns over economic welfare and state policies.

Public Sentiment on Issues

The public conversations surrounding economic issues predominantly feature keywords such as "inflation," "job growth," "taxes," "cost of living," and "healthcare costs." Sentiment toward these issues varies but generally shares a critical view of current economic management.

Inflation

Public sentiment around inflation is overwhelmingly negative, with widespread frustration over rising prices and decreased purchasing power. Comments reflect concerns about the government's role in mitigating inflation and the impact on everyday expenses like groceries and gas. The sentiment trend suggests blame is often placed on Biden administration policies perceived to exacerbate the issue.

Job Growth

Discussions around job growth vary. While some express optimism about job opportunities under certain administrations, others highlight discrepancies in wage growth compared to the increasing cost of living. The trend in sentiment here is mixed, with an underlying concern about job stability and fair wages, as job creation efforts do not always translate into economic security for working families.

Taxes

Taxation is another major topic, with sentiments veering towards criticism of high tax burdens on the middle class. Keywords like "tax cuts" and "tax increases" frequently appear, with frustration aimed at perceived inequities in the tax system. Many argue that tax policies favor the wealthy and corporations over the average taxpayer, deepening economic disparities.

Cost of Living

The cost of living is a critical issue, Americans in the rust belt express stress about affording basic necessities with rising prices. Negative sentiment here is strong, with calls for policies that address wage stagnation and improve affordability for essential goods and services. Public opinion calls for economic measures to alleviate these burdens, reflecting a demand for immediate action.

Healthcare Costs

Healthcare costs also dominate economic discussions, with public sentiment largely critiquing the high expenses associated with medical care. There is a strong desire for reform to make healthcare more affordable and accessible. This issue's sentiment trend shows bipartisan frustration, indicating widespread dissatisfaction with the current healthcare system regardless of political affiliation.

Influences on Voter Turnout

There are multiple driving factors that influence white male voting behavior and the probability of turning out to vote. This demographic is particularly significant given the heavy discourse surrounding political ideologies social issues that specifically involve white men in public conversations.

Wisconsin

Wisconsin men often vote strongly on economic issues. There's an emphasis on fiscal conservatism and opposition to expansive government intervention, often labeled as "socialist" or "communist." The notion of "Project 2025," a plan associated with conservative principles, is frequently mentioned to outline policy preferences that favor deregulation and a reduced federal footprint in state affairs. The sentiment here is mostly distrust of liberal overreach and a desire to reclaim local autonomy.

Michigan

White male voter concerns are tied to the manufacturing sector in Michigan, which has been subject to significant changes over recent decades. Here, keywords like "MAGA," "America First," and "economic nationalism" dominate discussions, reflecting a preference for policies that prioritize American industry and workers. This demographic is deeply skeptical of international trade agreements and immigration policies which could undermine American jobs. These men fear losing traditional economic strongholds and pushback against globalization-fueled economic decline.

Pennsylvania

Energy policies are a driving factor for white male voters in Pennsylvania, especially given the state's historical reliance on coal and natural gas industries. They like candidates who support deregulation and oppose the Green New Deal, which they see as a threat to Pennsylvania’s economy. There is distrust towards federal institutions, suggesting cultural conservatism and wariness of elitism and overreach from liberal politics. This group often prioritizes safety, security, and economic stability over progressive social changes. Voter turnout among this demographic is generally high, driven by a strong sense of civic duty and a belief that their way of life is under threat from liberal policies.

Minnesota

White men in Minnesota often discuss MAGA and communism, revealing an urgency to defend against progressive policy advancements. Public conversations often revolve around crime, policing, and urban policies, indicating a demand for law-and-order approaches. The animosity towards perceived liberal agendas is palpable, with strong resistance to movements for social justice reform, seen as destabilizing forces. This voter group is likely to turn out in significant numbers, driven by a perceived existential threat to their values and way of life.

MIG Reports data shows American perceptions of Vice President Kamala Harris’s economy as like Joe Biden’s, especially on inflation. Public sentiment about Harris as a potential president is negative based on her association with the Inflation Reduction Act and the broader economic conditions under the Biden administration.

Inflation Reduction Act Revisionism

Kamala Harris was the tie-breaking vote in the Senate to help pass the Inflation Reduction Act in 2022. President Joe Biden, along with numerous economists, have since made it clear the Act didn’t address Inflation. More accurately, it was a government spending bill.

Several mainstream media articles even address this, including AP News. When people discuss Kamala Harris and inflation, they criticize the Inflation Reduction Act, decry record high prices and the cost of prescription drugs.

Public discourse frequently highlights Harris's efforts to build up the middle class. However, many attribute the 20.1%+ overall price hike and record high gas prices to her tenure as vice president. There is prevalent criticism that Harris has overseen the decimation of the American Dream.

Despite historical negativity and criticism for her economic record, Harris has enjoyed a sentiment boost in the last couple of days, likely due to coordinated fawning and revisionism by the media to rehabilitate her policy record.

False Support or Dismissal?

Conversations that increase Harris's sentiment often center on touted accomplishments alongside Biden like the Inflation Reduction Act. Despite evidence to the contrary, many supporters still praise them for decreasing costs for families, lowering prescription drug prices, and making historic investments in clean energy jobs and manufacturing.

Harris advocates say these measures demonstrate her efficacy in legislative processes and her capability in executive functions. They say this increases their confidence in her potential presidency. However, these discussions seem based on tribal loyalism as opposed to direct discussion of the Act.

Some on the right speculate that voter support is being astroturfed by biased media and Democratic leaders. They say establishment “machines,” which include the White House press team and mainstream media, are attempting to prop up Kamala Harris by lying about her track record.

Sentiment toward Harris decreases significantly when people consider the negative impacts of inflation directly. High prices, low savings rates, and a general sense of economic decline put many voters on edge. Criticism often revolves around the feeling that Harris, along with Biden, failed to adequately address or prevent these economic challenges, leading many to doubt her competency in managing the economy.

Critics closely associate Harris with unpopular aspects of Biden's administration, such as weak global leadership and failure to address critical domestic issues. Many voters believe Harris would be an extension of Biden’s flaws, citing her role as "Enabler in Chief" and highlighting her record during her time as District Attorney and Attorney General in California as indicative of her inadequacy in future leadership.

Fluff Over Substance

Discussion trends show the public is simply not having the same discussions across the aisle or compared to media discourse. Supporters are vague in their endorsements, leaving room frame Harris’s role in passing progressive legislation as a positive, regardless of specifics. They focus broadly on her stance on issues like reproductive rights, voting rights, and clean energy investments, seeing her as a champion for significant and needed reforms.

Detractors, however, cite specific examples of Harris’s failures and hypocrisies. They emphasize economic difficulties caused by the Biden-Harris administration, the border crisis, and her general alignment with the Biden administration’s less popular policies.

On the opening day of the RNC, Teamsters President Sean O’Brien delivered the keynote speech as the first union leader to ever speak at the RNC. In reaction, discussions about labor unions and the political support of union members toward either Joe Biden or Donald Trump flooded social media.

MIG Reports data shows union members are vocal about several major topics, revealing insights into their political leanings, the controversies that shape their views, and the prevailing trends in discourse and sentiment.

Union-First: It’s a Mixed Bag

Discussions among union members about their political support for Joe Biden or Donald Trump reveal nuances. There are some key themes such as taxation, the economy, trade policies, healthcare, and labor rights.

Taxation

Many union members are dissatisfied with policies favoring the wealthy and increasing the tax burden on the middle class. Biden supporters appreciate his efforts to reduce unemployment and increase wages. Trump's critics highlight his tax reforms as benefiting the affluent.

Economy

Biden supporters credit his policies for reducing inflation, lowering gas prices, creating jobs, and emphasizing benefits for the working class. Trump supporters argue his deregulation and corporate tax cuts stimulate economic growth, though critics say these measures favor businesses over workers.

Trade Policies

Trump's tariffs and trade wars are seen as protective, but criticized by opponents for increasing costs and financial strain on Americans. Opinions are mixed on the effectiveness of bringing manufacturing jobs back to the U.S.

Healthcare and Social Security

Biden supporters value his commitment to expanding social safety nets, while Trump's stance on reducing government spending and repealing the Affordable Care Act raises concerns about benefits and affordable healthcare among union members.

Labor Rights

Many union members support Biden for his pro-union stance and support for collective bargaining, contrasting with Trump's actions which are perceived as weakening union power.

Corporate Influence and Elitism

Trump gets criticism for being corporate-friendly and pandering to elite interests. His supporters praise his anti-establishment rhetoric and efforts to dismantle entrenched political systems. 

Union Workers

Conversations about union workers expose sharp political divides, particularly their support for either Joe Biden or Donald Trump. Key areas of contention include union leadership endorsements, policy impacts, and the broader implications of political alliances on labor rights and worker conditions.

Union Leadership and Support

Biden often garners support from union leaders and members who emphasize his pro-labor stances. Leaders like Liz Shuler of the AFL-CIO call Biden the "most pro-union president in history." They highlight his efforts to promote labor rights, increase investments in new industries, and foster training and apprenticeship programs. Union leaders and members who favor Biden highlight the positive impacts on labor and the economy, aligning with historically labor-friendly Democratic positions.

Trump’s relationship with labor unions is contentious. Union members who support Trump often praise his economic policies and efforts to bring jobs back to the United States. However, many union leaders oppose Trump, labeling him anti-union due to his administration’s labor policies, which they argue weakened labor protections, undermined collective bargaining, and promoted right-to-work laws that diminish union power.

Policy Impacts and Economic Approaches

Union members favoring Biden argue his administration supports labor union goals and protects worker rights. Conversely, Trump supporters within unions argue his economic policies led to job growth and prosperity, though these claims are often disputed by union leadership pointing to the negative impact of his labor policies.

Sentiment Trends

Pro-Biden sentiment among union members includes trust in his commitment to labor rights and his administration's tangible successes. Pro-Trump union members exhibit enthusiasm for his economic policies and frustration with union leadership, which they perceive as out of touch or excessively partisan.

Controversial Topics

Immigration is a contentious issue, with some union members criticizing Biden's policies for potentially undercutting wages by flooding the labor market. Trump’s stance is seen as protecting domestic jobs.

Political Realignment

There is anxiety over union leadership's engagement with conservative politicians. Events like Sean O’Brien’s appearance at the Republican National Convention evoke strong reactions. Critics within unions protest any engagement with Republicans, citing historical antagonism toward labor unions in conservative policies. Some union members warn that Republican overtures toward labor unions may be strategic moves to weaken them later.

Broader Implications

Union-related conversations about Biden and Trump are deeply divided, reflecting broader political polarizations. Union leadership generally supports Biden while criticizing Trump’s labor policies.

However, a significant faction within rank-and-file union members perceives benefits in Trump’s economic approach. This dynamic continues to provoke vibrant debate and starkly contrasting sentiments among union members, encapsulating the broader national discourse on labor and political allegiance.

Lester Holt’s NBC News interview with Joe Biden gave the American public more fodder to criticize the performance and abilities of the President. The conversation generated conversations about taxation, economic policies, national security, and public trust. Analysis of the discourse reveals overarching themes and prevailing sentiments of disappointment and disillusionment with Joe Biden as the sitting president.

HOLT: "If you were to have, continue to run and be officially nominated, what happens if you have another episode like we saw during the debate?"

BIDEN: "What happenuvanuh?"

HOLT: "Yeah, what happens if you have another performance on that par, on that level?"

BIDEN: "I don't… pic.twitter.com/2YHmWBfokq

— Vince Coglianese (@VinceCoglianese) July 16, 2024

Economics, Economics, Economics

One of the most consistent topics Americans focus on is Biden’s tax policies, particularly his plans to repeal Trump-era tax cuts. Critics vehemently argue this will lead to increased taxes for most Americans. They also say this move will cement Trump as the champion of tax reduction and economic prosperity.

This narrative is potent among anyone who felt positively about their economic prospects and the market climate under Trump. Biden supporters counter by emphasizing his tax policies target only the very wealthy. They say this will correct economic disparities and bolster social programs.

Economic issues that concern Americans extend beyond taxation. People also worry about inflation and job security. Biden critics blame his administration for rising inflation, often called a hidden tax, saying it disproportionately affects the middle and lower classes. Many argue economic conditions were more favorable under Trump, highlighting personal anecdotes of better financial stability during his tenure.

Biden advocates, however, point out reports that say overall unemployment has decreased. They credit Biden’s policies for bringing jobs and stability back after COVID. This economic dialogue is significant in shaping the perceptions of undecided voters who prioritize financial stability and employment prospects.

However, there are serious questions about whether Americans believe the jobs and economy narrative Biden’s administration is pushing. Many express skepticism over constantly revised job reports and the realities of their own situations. Some voters feel Biden’s economic and job offerings are a last-ditch effort to shore up votes before November.

Critics point to the fact that most of Biden’s alleged job growth stems from federal jobs. In 2023, nearly 25% of all job gains in the U.S. job market were attributed to government positions. This highlights a significant dependence on public sector employment to support economic growth. Additionally, the government's household survey indicates, as of May 2024, there are only 971,000 more U.S.-born Americans employed compared to May 2019, before COVID. Whereas, the number of employed immigrants has risen by 3.2 million.

Open Borders, A Conversation Starter

National security and public safety are recurrent themes, fueled by discussions of border policies and recent high-profile criminal events. Biden detractors blame his administration for exacerbated security risks, citing open borders and increased crime rates. People contrast this with the promise of stricter, more effective security measures under Trump. This rhetoric aims to persuade voters who prioritize safety and border control to lean away from Biden.

Public trust issues also dominate the conversation around Biden’s recent interviews. Misinformation and distrust of politicians and the political system are rampant, with accusations from both sides. Biden's critics paint him as deceitful and out of touch, questioning his credibility and often quipping about conspiracies regarding past political misdeeds and current policies.

Biden supporters emphasize the need to hold on to democratic values and counter the rhetoric of Trump, which they believe is a threat to democracy itself. This polarized view challenges undecided voters to navigate through a cacophony of deeply contentious narratives.

How Americans Feel about Joe Biden

Sentiment trends confirm political divides. There is palpable frustration and anger among Biden’s critics, who insist he now clearly is incapable of governing. Their language is often heated with a sense of urgency to “save” the country from poor policies and a puppet presidency. Biden supporters are defensive. They take a proactive stance urging for continued support and engagement through voting to ensure a progressive trajectory.

For undecided and Independent voters, reactions suggest a complex landscape. Those dissatisfied with current economic conditions, swayed by the argument of high inflation and ineffective economic strategies, might be leaning away from Biden. However, voters who value democratic stability and view Trump as a destabilizing force might find solace in Biden's promises, despite economic concerns.

Ultimately, Biden's Lester Holt interview appears to have deepened existing political divides, with strong reactions on both sides. Biden’s base continues to defend him, resigning themselves to vote for him—if only to preserve the Party’s agenda. However, this simultaneously provides fodder for his critics who view supporting a clearly incapacitated president as equally threatening to the country.

For undecided and Independent voters, their sway might hinge on personal economic experiences and perceptions of national security rather than the interview alone. They may need more tangible evidence of policy impacts leading up to the elections.

MIG Reports data shows recent online discussions about economic hardships with inflation as a critical point of anxiety. Several key topics are frequently discussed among Americans as they react to their current economic struggles.

Many Americans are feeling significant cost increases day to day—particularly for essential items like food, gas, and housing. A lot of people point out this inflation disproportionately affects the middle and lower classes. Sentiment is frustration with anxiety about financial stability and the future.

Top Concerns for Americans

One of the big worries voters discuss is taxation. There is growing frustration about the fairness of the current tax system. Some critics—often on the left—say it favors the wealthy and large corporations at the expense of the middle class.

Higher taxes, particularly under Democratic policies, make people feel burdened as they are already struggling. Both working-class Democrat voters and right leaning voters have complaints about taxes on the middle class.

Employment and job security are also significant themes. People worry about corporations outsourcing American jobs, as in the case of Zoom cashiers in New York City. They also talk about the impact of union policies on job availability for blue collar workers.

Job concerns are intertwined with fears about the sustainability and dignity of the American middle-class workforce. Many middle- and working-class Americans worry about losing their jobs or not being able to find a job.

High inflation remains a top concern as well. Voters believe inflation rates are unacceptable and unsustainable. The rising cost of living, particularly groceries and housing, puts a significant strain on household budgets.

High interest rates also create a barrier for most Americans to purchase homes. This further adds to economic anxiety. Many voters also express displeasure with high gas prices, which have a cascading effect on their overall cost of living.

Dissatisfaction with Bidenomics

American families feel frustration, distrust in leadership, and a desire for change. Trump supporters are particularly vocal about reversing current policies they believe are detrimental to the economy. They dislike Biden policies they see as affecting fuel prices and border security.

Many argue Biden administration policies are increasing economic strain by exacerbating inflation and increasing layoffs. There is a distinct shift among some undecided voters and potential Biden defectors. They express sharp dissatisfaction with how Biden has handled the economy.

Talk about tangible economic outcomes which a second Trump administration might bring is increasing Trump’s support. Exasperated voters reminisce about the successes of his previous administration. They cite lower taxes, reduced regulation, and economic growth and appear to be attracting undecided voters and others dissatisfied with Biden.

Another positive discussion point is Trump’s proposal to exempt tips from tax. Many Americans hope for a return to policies that benefit the middle class. They want leaders who will address specific pain points like inflation and job security.

Conversely, Biden’s support drops with any spotlighting on his economic failures. Reminders of persistent inflation, high taxes, and a poor job market disheartens voters about his capability to manage the country's economy.

Stressing the immediate and visible impacts of pressing economic issues on everyday life resonates with those feeling the pinch in their own finances.

The trend of job report numbers consistently being revised down is revealing a worse job market to Americans who are unhappy. Many feel deceived by the initial reports indicating a more robust job market, only for them to be corrected later to reveal a less optimistic reality—which more closely aligns with many workers’ experiences.

There is a growing sense of distrust and frustration towards the agencies and media sources reporting current job figures. People feel misled and uncertain about the true state of the job market, which complicates personal and financial planning.

JUST IN: The unemployment rate has ticked up to 4.1%, going over 4% for the first time since November 2021.

- 74% of jobs added last month came from government and healthcare education.

- May jobs were revised down from 272K to 218K.

- April jobs were revised down from 165K to… pic.twitter.com/gHtXhW9EtP

— Collin Rugg (@CollinRugg) July 5, 2024

Anger Over Job Growth Only in Government

One viral topic around jobs includes news that most of the new job creations were government and education jobs. For many Americans, this has multiple implications on their perception of economic health and labor market dynamics.

In general, reactions are negative. Many interpret this as a sign of an economy relying too much on government intervention rather than private sector growth. They say it’s indicative of a stagnant private sector that is being choked by inflation and regulation.

Government employment is typically considered more stable, implying a potential increase in job security for those lucky enough to secure these roles. However, an economy heavily tilted towards government employment makes many workers feel that unnecessary jobs are being artificially created instead of driven by private sector growth.

Some also claim these government jobs are created specifically to pad job numbers.

This is how the Biden Department of Labor is fudging the data now: all job openings are government. pic.twitter.com/udxQSeKj0f

— zerohedge (@zerohedge) July 2, 2024

Many people are doubtful about the sustainability and impact of government job creation. They say an increase in government jobs does not create a healthy, flourishing economy. They also point out the rising unemployment rates among certain demographic groups, questioning the effectiveness of the administration's policies.

Arguments Over “Black Jobs”

A particularly contentious point of conversation is around employment for black Americans. During the first presidential debate, Donald Trump used the term to underscore issues like job displacement due to illegal immigration or underemployment in black communities.

On social media, this controversy led to heated debates over terms like "black jobs" and "black unemployment," illustrating the divide in how different groups interpret and discuss labor market outcomes. Democrats and progressives took the opportunity to criticize Trump for differentiating “black jobs” in their own category.

Republicans mostly reacted by highlighting the rise in black unemployment rates over the past year, despite reported overall job growth. They allege the gains in government jobs are not translating into meaningful employment opportunities for black workers.

Voters on the right argue Trump’s main point was to highlight unemployment specifically within the black community. They assert discussing "black jobs" is merely a way to highlight employment opportunities and challenges faced by black Americans, akin to other demographic-specific economic indicators.

Preferences for the Trump Economy

Trump supporters of all racial and ethnic backgrounds express a strong belief that the job market was at its peak during Trump’s administration. They especially point to black unemployment rates. They cite figures showing black unemployment hit a record low of 5.3% in 2019 under Trump. These supporters often frame their arguments around the belief that illegal immigration is undercutting job opportunities for black Americans.

They maintain that Trump’s administration ushered in significant gains for minority employment, despite sharp rises in unemployment during COVID. To conservatives, Biden’s tenure has not continued these successes. They say economic recovery, especially for black Americans, has been dismal.

Conversely, Biden supporters and liberals accuse Trump and his constituents of using racially charged rhetoric to pit black Americans against immigrants. They point to the record lows in black unemployment achieved under Biden administration in 2023 as evidence that Biden is improving the job market for black Americans.

Democrats highlight investments in infrastructure and historically Black colleges and universities (HBCUs) as part of a broader strategy that includes focusing on economic development and community welfare. Many liberal voices decry the term “black jobs” as racially insensitive and misleading. They emphasize that job creation and employment statistics should not be segregated by race.