In 2024, Biden’s great economy isn’t enough to win the election

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Setting aside questions about his health and Democratic efforts to push him out of the race, it’s a tough time for President Joe Biden to be in charge. We don’t live in a world where actual, real-life results matter. “Vibes” and rank partisanship dominate voter preferences, and the conventional wisdom that “he’s old” has completely overshadowed a stunningly successful presidency.

Let’s take a look at some very recent economic headlines.

From The Washington Post: “Dow soars more than 700 points to close at another record high”

That seems like pretty important news, particularly given the notion that Democrats and their policies are somehow bad for business. If that was the case, Wall Street wouldn’t be regularly hitting record highs.

Meanwhile, after Trump’s selection of Ohio Sen. J.D. Vance as his running mate, even CEOs are taking notice of the GOP ticket’s actual hostility toward business.

“CEOs are shocked as this is quite an odd choice to try to balance the ticket with [someone] so hostile to business,” Jeffrey Sonnenfeld, president of Yale University’s Chief Executive Leadership Institute who is in touch with business executives, told Semafor via email.
“As one GOP-leaning CEO told me an hour ago ‘This is [the] greatest gift Trump could give to Biden now!’” Sonnenfeld added.

From The New York Times: “U.S. Job Growth Remains Solid”

Once upon a time, job growth was a key metric for a presidential administration. Then Republicans sucked at creating jobs for so long that they (and their media enablers) successfully changed the conversation. Still, that shouldn’t obscure the reality of the Democrats’ stunning success at job creation:

Since 1989 and a new age of globalization began, 51 million jobs have been created in America. 49 million, 96%, have been created under Democratic Presidents. Essentially all of them. Over 35 years. pic.twitter.com/nGvisdV6mw

— Simon Rosenberg (@SimonWDC) March 8, 2024

Democrats have pretty much created all jobs for the past 35 years. If you’re wondering whether or not that claim is hyped-up rhetoric, PolitiFact actually rated it true. (In true PolitiFact style, it got a “mostly true” rating because “[Simon’s tweet] ignores caveats around divided governance and lucky timing.” Yeah, the “lucky timing” is having a Democratic president at the helm.)

ABC News reports: “US inflation cools again, potentially paving way for Fed to cut interest rates soon”

The U.S. is the economic envy of the world. Indeed, inflation is actually falling.

In a sane world, our economic reality alone would be enough to propel the incumbent president to a resounding victory. But the notion that “it’s the economy, stupid” that helped President Bill Clinton so much is now an archaic artifact from a more rational time.

And it doesn’t always hurt us—Democrats had every reason to be punished in 2022 as inflation approached double digits. Yet Democrats won an improbable and ahistorical midterm election while holding the White House. Voters are no longer voting based on their pocketbooks, but on their ideology and fears.

Republicans have their narrative against Biden (and Vice President Kamala Harris, should she take the lead): Trump promising to “make America great again,” regardless of the actual facts on the ground. That’s why it’s important for us to refocus our energy to highlight Trump and Project 2025. Because the more people learn about both of those, the greater our chances of success in November.

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