We told you about the jobs report yesterday. Not only were May and June jobs numbers revised downward, again, but July only saw 114,000 jobs added and unemployment shot up to 4.3%.
This is going to hit middle-class Americans hard. They've already been struggling under Bidenomics, with the administration gaslighting them into thinking things are really great.
Salena Zito, who does a fantastic job reporting on the issues that concern the average American, writes about the spectre of recession:
“The word recession is powerful. A lot of economics is psychological. The numbers that came out on Friday is very bad news for the Harris campaign. They were touting a soft landing last week and that is not going to happen now.” https://t.co/o7oU9878q9
— ZitoSalena (@ZitoSalena) August 3, 2024
Here's more from Zito atThe Washington Examiner:
When it comes to what is most important to people when they go to the voting booth, the economy is always the No. 1 concern. The latest Brookings Report, released before the weak jobs market came to light and inflation was the overriding economic issue, showed a whopping 65% of voters rate the economy as good during Donald Trump’s presidency as compared to 38% under the Biden-Harris administration.
Paul Sracic, political science professor at Youngstown State University, said political strategist James Carville was right when he said “It’s the economy stupid” when he centered former President Bill Clinton’s campaign on economic issues.
“As it was then and now, it is how people feel about the economy and if their lives are better that is driving this election,” he said. “The word recession is powerful. A lot of economics is psychological. The numbers that came out on Friday is very bad news for the Harris campaign. They were touting a soft landing last week and that is not going to happen now.”
There's no soft landing.
And recession is coming.
The answer is for the campaign and the media to completely ignore it.
— Brian Doherty (@BDOH) August 3, 2024
But it’s the Trump campaign’s duty to let the American people know over and over and over and over again.
That's what Trump and the GOP need to do: hammer the economy.
They keep manipulating the figures. Votes, too. No good will come from it and they deserve to suffer. As Nelson Rockefeller used to say: “Figures don’t lie but liars can figure.”
— GWashington (@aakosko) August 3, 2024
They'll have to face the consequences of lying. Much in the same way lying about Joe Biden's cognitive health came back to bite them in the butt, this will, too.
There was an actual "recession" - two consecutive quarters of negative GDP growth - back in 2022. The media literally changed the definition (claim an actual recession wasn't really a recession). They're going to call anything a recession now?
— John Sitkiewicz (@Jrock41S) August 3, 2024
We remember that.
They will not call this a recession. We could go into a full-on depression and they'd still say everything is fine.
It’s more than a hard landing. I’m actually starting to believe we will have an economic collapse.
— KayDee 🌸 👩🌾 (@ally_gardener) August 3, 2024
We certainly hope not.
for as much as people pay attention to your thoughts, people don't pay attention to your thoughts as much as they should.
— Gitabushi (@Gitabushi) August 3, 2024
They really should pay more attention.
Dow cratered. Unemployment increase triggers Sahm Rule indicating recession. Job growth revised down 10/14 months. Volatility up now > 100%.
— Rich Baris The People's Pundit (@Peoples_Pundit) August 3, 2024
But it's a "fair to neutral" economy in election models. https://t.co/0P1goXhniK
'Fair to neutral'.
Insane.
Top-notch article by Salena. https://t.co/jAoXHWBoOc
— Morgan Rhinegelt (@rhinegelt) August 3, 2024
It really is.
Join the conversation as a VIP Member