White House: Economy ‘Exceptionally’ Good and People Like Their Finances, But Don’t Feel Confident D

[mystery-ak]

White House: Economy ‘Exceptionally’ Good and People Like Their Finances, But Don’t Feel Confident Due to COVID, War

Ian Hanchett 7 Nov 2023

On Monday’s broadcast of CNBC’s “Squawk Box,” White House National Economic Council Director Lael Brainard reacted to negative poll numbers on the economy by stating that “the economy is performing exceptionally well” but “people have been through a very challenging few years between the pandemic, and then the oil price spikes associated with Russia’s war. It’s going to take a while for them to feel really confident,” and most people “feel like their personal finances are better now than they were before.”

Co-host Andrew Ross Sorkin said, “Speak to this, though, because I think there [are] a lot of folks who have been waking up to headlines of poll results over the weekend, as it relates to Bidenomics versus, frankly, Trumponomics and where he stands — the president that is — compared to where…the former president stands in terms of how people are thinking about the economy and how, frankly, unhappy they remain about the economy.”

Brainard responded, “Look, if I look around the world, I don’t think there’s a leader out there who wouldn’t rather have the economic record that President Biden has today. We have been growing, 3% over the past year. We’ve had unemployment down below 4% for 21 months in a row. Real incomes are growing. Wealth — this is remarkable — wealth is up 37% for the median household since before the pandemic. And we’re growing faster and have lower inflation than any other advanced economy in the world. So, the statistics, I think, are very strong. Now, people have been through a very challenging few years between the pandemic, and then the oil price spikes associated with Russia’s war. It’s going to take a while for them to feel really confident, but if you look at surveys, 70% of Americans feel like their personal finances are better now than they were before. We’ve still got to work on kitchen table economics, there are still a lot of Americans sitting around their kitchen tables with costs of medicine, pharmaceuticals that are still too high, and we’re working on that.”

more
https://www.breitbart.com/clips/2023/11/07/white-house-economy-exceptionally-good-and-people-like-their-finances-but-dont-feel-confident-due-to-covid-war/

[mystery-ak]

Fmr. Obama Press Sec. Gibbs: Biden Should Stop Saying Economy’s Back, Say He’s ‘Trying’ — Mortgages Are Still Way Up

On Monday’s broadcast of MSNBC’s “11th Hour,” NBC Analyst and former Obama White House Press Secretary Robert Gibbs said that President Joe Biden “needs to stop talking about the fact that America is back.” And should message that “we have a plan to bring America back, we are trying to improve your lives.” Because “saying that the economy has recovered is a danger for people whose lives don’t feel different, even though inflation is down over nine months, it still costs a lot more money to borrow money for a car, it still costs a lot more money to pay your mortgage.”

https://www.breitbart.com/clips/2023/11/07/fmr-obama-press-sec-gibbs-biden-should-stop-saying-economys-back-say-hes-trying-mortgages-are-still-way-up/

Moskowitz: Biden Can’t Say Economy’s Good when Everything’s ‘More Expensive’ and Price Fall Is ‘Much Slower’

On Monday’s broadcast of CNN’s “The Lead,” Rep. Jared Moskowitz (D-FL) stated that “We can’t tell people the economy is good or things are getting better, if they don’t feel it.” And noted that “Doing anything right now is more expensive because of inflation. This is still the period outside of COVID, when we saw things just skyrocket. They went up super quick, and they’re coming down much slower.”

https://www.breitbart.com/clips/2023/11/07/moskowitz-biden-cant-say-economys-good-when-everythings-more-expensive-and-price-fall-is-much-slower/

[Weird Tolkienish Figure]

The problem with inflation is prices don't go back down. Inflation goes down sure, that just means the prices don't go up as fast. People aren't dumb and they can feel it. I know I can.