Despite a booming US economy with soaring productivity, buoyant markets, and healthy job growth, Americans are feeling the pain of inflation. Cost of living increases are outpacing wage rises, particularly affecting low and middle-income earners, leading to anger and uncertainty. This has hurt Democratic support among key voting blocs and fueled Republican narratives about Democrats abandoning working-class Americans.
A Walmart store in Austin, Texas. Consumers – especially low and medium income ones – have been hit by cost of living increases that outstrip their wage rises. Photograph: Adam Davis/EPA’s campaign mastermind James Carville during the 1992 presidential election. It has always been a simple rule of thumb: when the economic numbers are good, the party that holds the White House wins.
Not necessarily. By most of the metrics used by economists, the US is booming. Productivity is soaring. Markets are buoyant. Job growth is healthy. The country is racing ahead of its competitors in Europe and Asia. So why do Americans tell opinion pollsters that the economy is terrible? One word: inflation. Consumers – especially low and medium income ones – have been hit by cost of living increases that outstrip their wage rises.
Thirty two years on from that famous quote, James Carville now thinks Harris has an opportunity to win on the economy by rejecting Trump’s depiction of the US as an economic basket case and persuading Americans that she can address their cost of living issues without the chaos and confusion of a second Trump presidency.US election explained: What are swing states and how will they decide the presidency?‘We moved in with each other after seven days.
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