Here’s why the gap between Americans’ perception of U.S. economic performance and reality has doubled since 2019, according to economists
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Under Trump, U.S. economy grew 7.4% from Q4 2016 to Q4 2020; under Biden-Harris, it grew 10.6% through Q2 2024, reaching $22.9 trillion; GDP per capita reached $68,088 under Biden-Harris, up from $63,257 under Trump; jobs fell by 2.7 million under Trump, grew by 16.2 million under Biden-Harris; inflation was 7.7% under Trump, 20.3% under Biden-Harris; wages increased by 26.1% under Biden-Harris; 72% of Americans reported doing fine financially, but only 22% thought the national economy was doing well; perception gap has nearly doubled since 2019; cognitive biases like framing effect, confirmation bias, and negativity bias contribute to misperceptions.
#Economy #Perception #Inflation #Jobs #Biden #Trump #CognitiveBias #Statistics #Gdp #Healthcare
https://fortune.com/2024/10/15/gap-american-perception-us-economy-performance-reality-doubled-trump-harris-politics/
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