TL/DR –
The U.S. economy is experiencing growth with wages exceeding inflation, low unemployment, and reduced inflation rates from 9.1% in June 2022 to 3.2% in October 2023, partly due to laws such as the Inflation Reduction Act. The American Rescue Plan has assisted poor families by reducing childhood poverty, and the CHIPS Act is positioning the U.S. to compete in the global semiconductor market. However, despite these positive indicators, President Joe Biden is struggling to gain popularity due to Republican messaging that prioritizes feelings over facts, and criticism from within his own party over his age.
American Economy Grows as Wages Rise and Unemployment Dips
The US economy is witnessing a significant boost, with wages outpacing inflation and unemployment sitting at a near 50-year low. The Inflation Reduction Act (IRA) was signed into law in 2022, helping to dampen inflation figures from 9.1% in June 2022 to 3.2% in October 2023.
Impact of the American Rescue Plan and CHIPS Act
The American Rescue Plan has impacted struggling families by reducing childhood poverty and the CHIPS Act is enabling the US to compete in the global semiconductor market. The new semiconductor factory in Ohio is a testament to this, creating 7,000 immediate construction jobs.
Biden’s Infrastructure Investment and Jobs Act
Infrastructure development also received a boost with the Infrastructure Investment and Jobs Act enacted in November 2021 under President Joe Biden’s administration.
Public Perception Versus Economic Data
Despite a booming economy, Biden’s popularity struggles due to the Republican Party’s narrative encouraging supporters to prioritize feelings over facts. This approach has led to a disconnect between economic data and public sentiment.
Joe Biden’s Age and Public Perception
Age-related criticism on Joe Biden is unfounded, considering historical examples like Benjamin Franklin and Charles Greeley Abbot. Despite Biden’s victory in the 2020 election, Trump supporters still harbor doubt due to misinformation and false narratives.
Immigration and Crime
Republicans continue to stoke fear around crimes and immigration despite contradicting data. Alyssa Farah Griffin’s comments about keeping Trump out of prison to avoid upsetting his supporters serve as an example of the tendency to prioritize feelings over facts.
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