Views on the US economy 2024

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By most metrics, the American economy is doing well. But the perception of the American economy is much weaker than its actual strength. This seems to finally slowly break up a bit, and people are realizing that things are actually not that bad.

Here's an article that tries to explain it: because of high interest rates, credit is expensive, including credit card debt, and if someone is buying a home now.

But if you go beyond the anecdotes as this essay does, and look at the actual data, you will find something else: it is a very partisan thing.

For Democrats we find that it depends. Basically, the more you fit to the dominant group - the richer you are, the older, the better educated, the "whiter", the "maler" - the better your view of the economy.

For Republicans we don't find any such differentiation. Everyone is negative about it, across the board. Their perception of the economic situation are crassly different from the perception of their Democratic peers.


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