CNN’s Enten: Disposable Income Is Down, Biden Is Disconnected from Economic Reality, Not the VotersIan Hanchett 17 Nov 2023
On Thursday’s broadcast of CNN’s “OutFront,” CNN Senior Political Data Reporter Harry Enten said that inflation and population-adjusted disposable personal income has declined over the past quarter and since the first year of the Biden administration and “there is this disconnect. But I don’t think there’s this disconnect between Americans and what’s actually going on. I think there might be this disconnect between what President Biden thinks is going on and what is actually going on.”
Host Erin Burnett began the segment by saying that President Biden admitted that “Americans are not feeling the positive effects of an economy that is improving on paper.”
She then said to Enten, “So, Harry, the President acknowledges that people are still not feeling good about the state of the economy. And he’s right. There are many reasons for that.”
Enten responded, “There are many reasons for that. You talk about all these economic statistics that are so good, and that’s what President Biden’s talking about. But let’s just talk about disposable income for a second here, how much money folks have to spend on things. That’s down this quarter from last quarter. It’s down considerably from [where] it was during the first year of the Biden administration.”
After showing a graphic that said that disposable personal income adjusted for inflation and population change has fallen 0.4% since last quarter and 3.4% since the first year of the Biden administration, Enten continued, “And historically speaking, if you go back, since the 1960s, you would, in fact, see that, on average, obviously, incomes would be up closer to 4%. So, there is this disconnect. But I don’t think there’s this disconnect between Americans and what’s actually going on. I think there might be this disconnect between what President Biden thinks is going on and what is actually going on.”
Burnett then said, “Right. How people truly feel. Because inflation is part of life. You can’t strip it out of any kind of an income number.”
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