Joe Biden's plan to effectively ban coal power plants is a contentious issue for Americans. MIG Reports analysis shows voter opinions on this matter are largely influenced by their beliefs about energy production, energy costs, and the environment. Additionally, it seems many Americans remain unaware of the ramifications of Biden’s unilateral action, given international conflict dominating social media and news coverage.

Online discussions which favor Biden's plan frame it as a necessary step towards sustainability and combating climate change. Those who hold this view often highlight the benefits of green energy, such as solar and wind power, in terms of its environmental impact and potential cost savings. They advocate for continuing to develop renewable energy technologies and infrastructure. They also express optimism about the potential for these sources to replace traditional fossil fuels.

Many others oppose Biden's coal regulation plan, often citing concerns about its impact on the economy and energy costs. This group frequently points to the role of fossil fuels in supporting American energy independence, as well as the jobs and economic activity generated by the oil and gas industry. They express concerns about the potential for green energy technologies to drive up energy costs, often arguing for a more balanced approach that includes both renewable and traditional energy sources.

There is also a group expressing skepticism of the green energy movement, viewing it as a political agenda rather than a practical solution to energy and environmental challenges. They argue the push for green energy overlooks its environmental impact and the cost of producing and disposing of renewable energy technologies, such as solar panels and wind turbines.

Energy Production

There seems to be a divide in which some push for aggressive measures to tackle climate change. Others voice concerns about potential economic implications and energy costs. A considerable number of Americans are calling for the expansion of nuclear power plants, asserting they are the most feasible solution to meet the country's energy demands while reducing carbon emissions. Many are hopeful toward Jigar Shah, the director of the U.S. Energy Department’s Loan Programs Office, highlighting the possibility of reactivating dormant nuclear power plants.

Simultaneously, there is vehement opposition to fracking due to its alleged environmental impact. Some voters criticize New York Governor Kathy Hochul for considering its use. Various people point out the irony of politicians celebrating natural parks while supporting fracking.

Despite this, there are voices of skepticism regarding the feasibility and environmental implications of renewable energy sources. Some claim renewable energy production is insufficient to meet the country's energy and fuel needs, arguing that nuclear power and natural gas are more reliable alternatives.

The recent inflation report and Consumer Price Index (CPI) report show a significant increase in prices. The inflation rate has soared, signaling a heightened cost of living for Americans. The CPI report, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, has seen a corresponding spike.

Sentiment among Americans towards these economic indicators is largely negative. This is not only rooted in the immediate impact of higher prices but also in a broader concern about the state of the economy. Confidence in the market is shaky, and this uncertainty seems to decrease public trust towards the Biden administration.

Along demographic lines, political affiliation plays a significant role in shaping sentiments. Democrats are more likely to view the situation as temporary or a result of global economic conditions. Republicans are more inclined to blame the current administration for the economic situation.

Race also plays a role in voter perceptions. Minority communities, particularly African Americans and Hispanics who are more likely to be in the lower economic strata, are feeling the brunt of the inflation more and struggling to get jobs. Their sentiment towards the current economic situation and trust in the government can be described as highly skeptical and frustrated.

The middle and lower classes are the most impacted by rising inflation. These groups are expressing a higher degree of dissatisfaction and are more likely to hold a negative perception of the market and the current administration.

Geographically, there is a negative outlook – but for varying reasons. In urban areas, where public transportation is more accessible, the impact of gas prices may be less felt than in suburban and rural areas where people rely heavily on personal vehicles. However, price increases on food and general cost of living have increased concerns about inflation for most Americans. The reasons for negative sentiment and a lack of confidence in the government vary among voter groups but are similar in terms of volume.

Increasing prices, such as the surge in the national gas prices from $3.61 for regular, $4.39 for premium, and $4.05 for diesel since February 19, has also sparked concerns and discontent. These price jumps are impacting American households and businesses, particularly those in lower economic classes and in regions where commuting is essential.

Other timely economic indicators seem to mirror distrust and general dissatisfaction. Following the inflation and CPI reports being released, the Dow Jones Industrial Average dropped 300 points. Several news outlets are covering the issue despite a history of complying with President Biden’s request to cover economic news with more positively.

MIG Reports analysis found the public reaction to the recent jobs report largely conveys skepticism and criticism, with some undertones of frustration and disappointment. This is a stark contrast from what Joe Biden has determined as, “A milestone in America’s comeback.”

The March jobs report from the Bureau of Labor Statistics claimed 303,000 jobs added and a lower unemployment rate of 3.8%. Federal Reserve Employment Data, however, reveals that 100,000 of those jobs belong to foreign-born workers.

Many criticisms also point out that full-time employment is at its lowest since October of 2020, while part-time is the category that is increasing. This is less optimistic since many workers need full-time work to make ends meet. The report also doesn’t fully consider those not seeking employment.

Americans are questioning the reliability of positive job reports, expressing doubts about the reality of these statistics. They voice concerns that these positive reports do not accurately reflect the struggle of many individuals who are unable to secure jobs. There is also an implication of mistrust towards government and authorities, suggesting a perceived disconnect between them and the average American.

The two general themes that emerge from the discourse are:

Discrepancy between job reports and reality

Voters express skepticism about the accuracy of positive job reports, highlighting the struggle of many who are unable to secure jobs despite applying for hundreds. The sentiment suggests the positive statistics do not match the reality on the ground, painting a picture of an economy in distress, despite official reports.

Mistrust towards authorities

There is a recurring theme of mistrust towards government, the media, and financial authorities. American suggest the ruling class is out of touch with the reality most of the population faces daily. By blaming economic woes on the general public, these authorities are seen as failing to address the root causes of job scarcity and economic distress.

Among other demographics, there is a sentiment of dissatisfaction for those who belong to the lower economic classes. They feel ignored by the positive job reports and express their struggle with finding jobs. Their perception is that the distress they experience is not reflected in the data.

American voters remain unconvinced of the Biden administration’s jobs reports. Fueling this distrust are real-world factors such as increased competitiveness from migrants receiving federal employment benefits and other economic factors such as high inflation. With many previous jobs reports being ‘adjusted’ weeks after their respective initial release, it is possible the current report may have to be adjusted as well, giving further justification to the distrust from Americans.

MIG Reports analysis of online discussions about increasing gas prices reveals people attribute this economic issue to political leadership. Under President Joe Biden people are noting the rise in fuel prices. Some attribute the increase in fuel prices to Biden's policies, while others defend Biden's administration, suggesting that other economic factors are at play.

Another theme that arises is the impact of rising fuel prices on other sectors, such as food and housing. Some users express concern that the rise in fuel prices is causing a concurrent increase in food prices and housing costs. Conversely, others argue that overall economic conditions have improved under Biden's administration, with lower interest rates and home prices than the previous year.

In terms of demographic patterns, there is a clear political divide. Those criticizing the rise in gas prices and its impact on the economy generally lean towards the right, while those defending Biden's administration lean left. Views on the issue do not appear to be deeply influenced by economic class, race, or geography, but rather by political affiliation.

It seems most people understand that fuel prices are rising, but there is disagreement over what is causing this increase. Some blame political policies, while others suggest that broader economic factors are responsible. With petroleum reserves likely unable to reduce prices as previously utilized by Biden administration, consumer worries about future prices will likely persist. 

Top Discussion Trends of Increasing Fuel Prices

Economic Impact

Many people express concern about the impact of rising gas prices on the cost of living, particularly food and housing. There is a general understanding that higher fuel prices contribute to increased costs for essential goods, which can put a strain on individuals and families, especially those in the middle and lower economic classes.

Climate Change

Some people connect rising fuel prices to climate change, suggesting global warming could exacerbate economic inflation. There is a growing view that environmental factors can influence the economy, although this understanding may be more prevalent among left-leaning voters with a higher level of education or interest in environmental issues.

Political Influence

There is also a belief that political decisions can influence gas prices. Some people accuse politicians of either causing or failing to prevent rising costs. This perception appears to be more common among those who identify with a particular political party or ideology, suggesting a possible political divide in understanding and responses to fuel price changes.

Geographic Differences

The conversation around fuel prices also varies geographically. For example, in Japan, the narrative focuses on changes in the Consumer Price Index and the impact of energy prices on inflation. In contrast, in the United States, the discussion often revolves around political and economic issues.

Misunderstanding and Misinformation

There is also some misunderstanding and misinformation about the causes and effects of rising fuel prices. Some people incorrectly believe that the government directly sets food and fuel prices, while others seem to underestimate the complex factors that contribute to economic inflation.

Online discussions about food price increases since Joe Biden took office are heavily influenced by political affiliation, socioeconomic status, and geographical location.

• Discussion volume regarding inflation has increased in the past few days, suggesting high costs are on Americans’ minds.
• Average sentiment on inflation since the beginning of 2024 has averaged 47% but has dropped around 1% in the last week.
• MIG Reports data shows a trend of increased discussion coupled with decreased sentiment.

At-home food prices increased 5% from 2022 to 2023. They’re up 25% overall since 2019, severely impacting American families’ food prices and their views on inflation. Some of the influencing factors on prices include:

• Supply chain disruptions, weather events, energy costs, trade policies, currency exchange rates, subsidies, and demand-side factors.
• Political policies such as trade agreements, tariffs, energy policies, and agricultural subsidies.
• Government decisions regarding international trade, energy regulation, agricultural support, and currency management can contribute to price volatility and impact the affordability of food for consumers.
  

How Voter Groups and Demographics View Food Inflation

Many Republicans, according to online discussion, opinion pieces, and televised interviews, are attributing the rise in food prices to President Biden's policy changes. They cite the administration's increased spending, supply chain disruptions, and inflation as key reasons for the escalating costs. This group often uses the term "Bidenflation" or "Bidenomics" to describe this phenomenon, emphasizing their belief that Biden's economic policies are directly responsible for the increased prices.

Democrats generally defend Biden, asserting that the food price increases are a result of global factors beyond the control of any one administration. They point to what they believe is an ongoing COVID pandemic, global supply chain issues, and climate change impacting agricultural yields as major contributors. They argue that these problems were inherited from previous administrations. They assert it will take time for Biden's policies to take effect and alleviate these issues.

Independents seem to be of mixed opinion. Some align with Republicans in blaming Biden's policies, while others agree with Democrats that the rising prices are due to more global and systemic issues. Regardless of what they believe is the cause, most people express frustration with the situation and increasingly high costs.

Various demographic groups have varying views. Lower-income individuals and families, who are most impacted by rising food prices, express concern and frustration. But there's no clear consensus on who they believe is to blame. Some point to the Biden administration, while others blame systemic issues or corporate greed.

Geographically, individuals in high cost-of-living urban areas are expressing more concern about the rising food prices. Rural areas, especially farming communities, are also voicing concerns, as the price increases are impacting their livelihood.

Overall, every Americans seem concerned about the economy and their financial survival. Differences become apparent only in various views about what’s causing higher prices.

Americans seem doubtful that February’s CPI report claiming 3.2% inflation accurately captures the rising costs they face day-to-day. Many voters say the real cost of living is much higher than what the CPI suggests. They cite increasing prices in housing, healthcare, food, and education, which they feel aren't accurately reflected in the index.

Pain Points for Everyday Citizens

Despite Democrats historically being vocal against the wealthy class gaining unfair advantages, this sentiment is now growing among all Americans. More voters identify the political class as among the “wealthy” and see elites as the primary beneficiaries of the current tax system.

• Republicans tend to be very negative on the current state of the economy, pointing to life during the Trump era as more affordable.
• Sentiment towards Trump on inflation is slightly higher than sentiment towards Biden among all voters.
• Trump averaged 47% support on inflation over the last week compared to Biden’s average of 44%.

• In swing states, Trump also maintained a 47% average approval on inflation to Biden’s 44% and an overall sentiment of 43%.

While most voters admit that costs have increased across the board, there are particular areas they say they’re feeling economic pain.

The cost of housing is a common complaint for all Americans – gaining bipartisan discontent. People would like to return to pre-COVID housing affordability. They point to the idea that there should be a 41% drop in home prices and a 69% increase in incomes to reach previous affordability levels.

Food prices are another subject of concern. Many online are skeptical of Biden administration promises to lower them. For both food and housing, there seems to be a common perception that times were “better” or “easier” during the Trump administration.

• U.S. Bureau of Labor Statistics data shows that inflation has risen significantly in the last four years, still not coming down to the target rate of 2%.
• The cost of cars, housing, and food are also shockingly high in the last several years.

What Americans Say is Causing Inflation

A common sentiment among left-leaning voters is that corporations and the wealthy are not paying their fair share of taxes. The Biden administration has recently been claiming that “shrinkflation” unfairly perpetrated by corporations is to blame for American dollars barely putting food on the table. Many Democrat voters seems to sympathize with this explanation – although most are still extremely unhappy with the reality of rising costs.

Biden supporters tend to argue that tax burdens are shifted onto the middle and lower classes, thereby increasing their cost of living. Some are also vocal in the belief that immigrants contribute significantly to the economy through taxes, contradicting the stereotype that they're a drain on resources.

Right-leaning voters frequently criticize the government for excessive spending. They argue spending is a bigger cause of higher taxes and increased cost of living for citizens. They believe taxes should be cut and government spending should be severely curbed.

Unlike some vocal progressive voters, most Republicans and some moderates believe that illegal immigrants are an unacceptable cost to the U.S. economy and the average taxpayer. They point to housing, food, and other services provided to illegal immigrants as unwanted and unauthorized by voters.

Taxes and inflation are among the top issues Democrats and Republicans discuss as important. Sentiment on the economy is slightly higher among democrats, but they discuss it more, with Republicans placing more emphasis on border security.

Regardless of political affiliation, voters seem to agree the cost of living has noticeably risen and many struggle to make ends meet. There’s a general sentiment often attributing financial difficulties to low wages and high taxes.

Americans Blame the Government for These Difficult Times

Many voters reiterate their belief that spending money on people who don't generate income or pay taxes – like illegal immigrants – is not a feasible solution to American economic pain. They argue for a system where people who make money and employ others keep more of their earnings, allowing them to invest, hire, and thereby stimulate the economy. These voters blame rampant spending on the government, resisting calls for higher tax revenue to ease economic burdens.

There is a recurring belief that the government's actions, such as printing money, are contributing to the devaluation of the currency, which in turn leads to inflation. Many voters also attribute high inflation to President Biden's policies and actions.

Recent trouble for certain regional banks has caused some Americans to express their concerns about how banking and interest rates are impacting the economy. A year ago Silicon Valley Banks collapsed, generating fears of another 2008-style financial crisis. This is mentioned today, along with huge losses for New York Community Bank as fearful discussions resume.

The general sentiment towards banks, especially those involved in political and economic decision making, appears to be driven by skepticism and concern.

The Fed and Potential Dollar Collapse

Some Americans express concern over increasing inflation, national debt, and the role that banks and politicians may play in exacerbating the situation. There are also mentions of alleged corruption involving politicians and their bank accounts.

There is also scattered talk about the Federal Reserve, with some Americans expressing doubts about its policies and actions in managing the economy. There are specific concerns about the potential for a U.S. dollar collapse and the role that the Federal Reserve may play in this. Some voters believe that the Federal Reserve and other banks are working together against the interests of small investors.

People concerned with the American financial system often mention Jerome Powell, the chair of the Federal Reserve. Some praise his caution in monetary policy and his approach to interest rates. However, there is also significant criticism, accusing the Federal Reserve of being a private banking system that lies and works against the interest of the average person.

• Banking sentiment online hit a 30-day low of 46% on February 11.
• The 30-day high was 49% on February 26, with relatively high discussion just over 1,000.

Fear About Potential Bank Failures

There is also general concern about the stability of the world financial system. People speculate about the potential for more bank failures and the possibility of the dollar losing its status as world reserve currency. They mention the national debt and the potential for a dollar collapse, pointing to warnings from large institutions like Bank of America.

There's also discussion about inflationary challenges and disagreements about the best monetary policies to maintain stability. People appear to be aware of the complex global economic dynamics at play.

Discussion about potential bank failures often arises alongside concerns about the level of risk-taking by banks, the adequacy of their capital buffers, and the effectiveness of regulatory oversight.

Basel III

Online discussion also touches on banks' opposition to the higher capital requirements proposed in Basel III. Users claim that banks have spent a lot of money lobbying against these regulations.

There is a common thread in the conversation suggesting banks are using their financial power to manipulate politics and the market. Some mention Basel III to make the point that banks have spent a significant amount of money to bribe politicians in their favor regarding legislation. There seems to be a significant level of distrust and skepticism towards the banking sector and its role in shaping regulatory requirements.

Bitcoin Speculation with Increased Financial Skepticism

Many people also discuss the issue of "too big to fail" banks and record-low sentiment following the 2008 GFC. They discuss the moral hazards created by government bailouts for banks. More recently, the discussion has also focused on the potential effects of digital currencies like Bitcoin and fintech companies on the traditional banking system.

Amid Bitcoin hitting new all-time highs, some speculate that digital currencies are a solution that threatens traditional banks. Some also argue about the role of banks and financial institutions in the cryptocurrency market. They compare Bitcoin with traditional banking systems, stating that the latter is corrupt and benefits only large institutions.

There seems to be distrust in the current financial system and the Federal Reserve. These voters suggest the adoption of a CBDC might face resistance from those in the public aware of its implications. Some mention that corruption and money laundering within the banking sector could be mitigated by the transparency and traceability of digital currencies.

It’s not obvious whether political affiliation influences voter opinions about the U.S. banking and financial system. These discussions tend to be skeptical of both government and large corporations, which may be appealing to both right- and left-leaning voters.

While the segment of American voters involved in talk about banks and digital currencies is not overwhelmingly large, most Americans feel the squeeze of rising costs and the discussion is likely indicative of an underlying concern among those who are following current and potential conditions.

A recent viral story about a retiring couple who are buried in a legal dispute with a squatter who took possession of their recently purchased dream retirement home in New York has sparked discussion about housing policies in blue cities. Many people are shocked and horrified at the extent of squatter's rights in New York and other Democrat-run cities.

On social media, New Yorkers express their concerns about squatters in their city, arguing they exploit loopholes in housing laws and exacerbate housing shortages. Many find it unfair and unsustainable that hardworking, taxpaying citizens must shoulder the burden of supporting individuals who, they argue, are not contributing to society in a meaningful way.

Many people have moved away or are threatening to move away from blue cities, citing frustration with policies that cater to squatters and illegal immigrants at the expense of law-abiding citizens.

Most Americans agree that there is a shortage of affordable housing across the country. But they tend to disagree on the causes and solutions.

In large, urban cities, where Democrats are often in power, there is a strong emphasis on tenants’ rights and protecting vulnerable populations. These places often have robust tenants' rights laws and policies aimed at preventing homelessness. However, these policies often face criticism from property owners who argue they unfairly infringe upon their rights and prohibit business, investments, and even the ability to occupy one’s own home.

Homeowners Frustrated with Squatter’s Rights

Many people – especially homeowners and landlords – see squatters as taking advantage of the system and property owners. They argue that property rights should be respected and that it's unfair for property owners to bear the burden of housing people without compensation. They often call for stricter laws and enforcement to protect the rights of property owners.

Those who can afford to own real estate express concerns about rent control policies, eviction moratoriums, and other tenant protections they see as too strict or lenient, leading to preferential treatment in favor of tenants.

Many property owners in places like New York argue that tenant-focused policies infringe the rights of landlords and homeowners. They believe they should have the right to control their own properties, including setting their own rental prices and choosing their own tenants.

Economic conservatives and property owners express frustration with overbearing regulations that make owning or renting property in blue cities nearly impossible.

Property Owners Vote with Their Feet

In many blue states and cities, there is a sentiment that tenant rights need to be protected. Mostly Democrats, voters and policymakers say landlords and homeowners should bear certain responsibilities. This includes maintaining safe and habitable living conditions, not discriminating against tenants, and not exploiting tenants with excessively high rents.

However, despite voting for politicians who enact tenant-focused policies, homeowners and landlords have been leaving blue cities in droves. Since COVID, many people have commented on the number of people moving from states like California and New York to places like Texas and Florida.

Many of the top reasons people say they left blue cities are economic. They mention high cost of living, food, real estate, and healthcare as reasons for leaving. A lot of inter-state migrants say they moved to avoid high taxes, progressive policies, or high crime rates.

Squatter and Tenant Defenders

There are advocates who argue tenant protections are necessary to prevent exploitation and displacement, particularly in cities with high living costs. They often point to instances of landlords using loopholes and aggressive tactics to evict long-term tenants and raise rents.

Some express concerns that affordable housing and systemic issues are one of the main issues facing middle- and lower-class Americans. They argue that squatters are often people who have fallen through the cracks of the system and are forced to resort to occupying vacant properties just to survive. They see the issue as a symptom of larger social and economic problems that need to be addressed.

Fewer Americans Can Afford to Own Real Estate

While the debate over housing policies in blue cities is often driven by partisan divides, Americans do seem to agree that housing is becoming too expensive across the country. Most people feel it’s prohibitively expensive for Americans to afford to own real estate. More are beginning to feel that, even if they could afford to own property, it may not be worth it.

For some, particularly younger generations, the importance of homeownership is decreasing. The flexibility of renting, coupled with an increasing emphasis on experiences over possessions, is challenging traditional notions of homeownership as a benchmark of success. However, this shift is not universal, and many Americans still aspire to own their own homes.

• Voters consistently say the economy, including the difficulties of housing, is one of their top issues of concern.
• Discussion about the economy is consistently high online, implying it remains on people’s minds.

The American perception of the economy, and Biden's handling of the economy, is a multifaceted issue. It’s shaped by various demographic, political, and personal factors. To fully understand this issue, we must consider the experiences of various voting groups.
Many Americans are feeling economic pain, particularly those in lower income brackets and the gig economy. Rising cost of living, low wages, and tax burdens are common grievances. Some feel they are overtaxed, while others are frustrated by what they see as a lack of value for the taxes they pay.

For instance, some gig workers on platforms like Onlyfans feel exploited. They say they must give a significant portion of their earnings to the platform in addition to paying taxes on their total earnings. Many who lost their jobs during COVID and other economic disruptions are financially stressed, concerned about rising cost of living, lack of affordable healthcare, and job insecurity.

Among racial and ethnic minorities, particularly Black and Hispanic Americans, there is increased economic anxiety and dissatisfaction. Lower-income individuals and those without a college degree also tend to view the economy more negatively.

The issue of immigration is a contentious one. Some citizens feel that their tax dollars are being unfairly allocated to support immigrants, rather than American citizens. This feeling is not confined to any one political group and is expressed by Republicans, Democrats, and Independents alike, suggesting a widespread concern about resource allocation.

Other Economic Factors Making Americans Feel Squeezed

The high cost of housing and the perceived exploitation by landlords is another issue causing economic distress. Some people argue that property taxes are too low, leading to landlords profiting excessively at the expense of renters.

Furthermore, there are concerns about the treatment of elderly citizens. Some feel this group’s financial needs aren't being met. This sentiment is often coupled with a feeling of being undervalued after a lifetime of contributing to society through taxes.

Trust in Joe Biden's administration to handle the economy varies dramatically along party lines. Many Democrats still support Biden, but there is also frustration and disappointment among some Democrats about perceived unfulfilled promises. Republicans, on the other hand, largely express dissatisfaction with Biden's economic policies. Independents' views are mixed, with some expressing frustration with the current economic situation and others remaining hopeful.