Dem
51
GOP
49
The headline is a polite way of saying there are a lot of low-information voters out there. A Harris poll, done for The Guardian, shows that a depressingly large percentage Americans are clueless about the economy. Here are some of the findings:
| Poll finding | Planet reality |
| 55% believe the economy is shrinking | GDP is growing |
| 56% believe the U.S. is in a recession | The last recession was in 2020 |
| 49% believe the S&P is down for the year | The S&P was up 23% last year and is up 12% this year so far |
| 49% believe unemployment is at a 50-year high | It is actually near a 50-year low |
| 58% say the lousy economy is Biden's fault | Presidents don't generally have much effect on the economy |
| 72% think inflation is increasing | During COVID it was 9%; now it is stable at 3-4% |
Biden has his work cut out to slice through the fog and explain that the economy is actually in pretty good shape. The economy is growing, nearly anyone who wants a job can find one, people's 401(k) accounts are way up. and wages have grown faster than inflation this past year. Over 15 million jobs have been created on Biden's watch and the Dow Jones index has gone from 31,000 to 40,000 during Biden's time in office while inflation has been tamed.
Republicans know even less than Democrats, with 67% believing the U.S. is in a recession (vs. 49% of Democrats). Republicans probably hear "recession" all the time on Fox, but where are Democrats getting this from? CNN and MSNBC don't claim the country is in recession. Maybe it's the price of gas. That is definitely up since Biden was inaugurated, even more than wage increases:
For people who measure the economy simply by the price of a gallon of gas, Biden does have a problem. (V)