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deficits and debt national politics & policies political economy

The Economy Is Great-ish

“We have the highest share of working-​age Americans in the workforce in 20 years,” Biden recently told reporters. “It’s no accident. It’s Bidenomics.”

Bidenomics being that old standby, tax-and-spend-omics.

So why do so many Americans think the economy is getting worse? Why do 84 percent say that their costs have gone up?

Well, says President Biden, the media mislead them. “You all are not the happiest people in the world [in] what you report,” is his view. “You get more legs when you’re reporting something that’s negative.”

The media do often mislead us; the negative news bias is real.

But I don’t think that our left-​leaning, in-​the-​tank-​for-​Biden media can be blamed for the impression so many of us have that it’s harder to make ends meet.

Biden isn’t the only one professing puzzlement. Breitbart Business Digest observes that a “small army of establishment media types and economists” are intent on “unraveling what they take to be the great mysteries of our time.” As described by a recent Brookings Institution paper, this mystery is the “disconnect between consumer sentiment and the state of the macroeconomy.”

As BBD points out, the Brookings researchers simply start by assuming that everybody is wrong, then try to figure out why.

“A simpler explanation would be that the economy is falling short of the public’s expectations” because of things like high inflation, higher interest rates, and greater difficulty paying for groceries, Christmas presents, vacations. And rent, and medical bills, and tuition.

Saying it’s all in our heads won’t make tough times go away.

This is Common Sense. I’m Paul Jacob.


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folly ideological culture media and media people national politics & policies

Bipartisan Planks

When a partisan discovers that opposition leaders engage in blatant, bald-​faced lying, do you find it charming … or sad?

Donald Trump and his “administration are gaslighting us,” writes Ariel Leve. “It’s a term we are hearing a lot of right now.”

Of course we are. “The term ‘gaslighting’ refers to when someone manipulates you into questioning and second-​guessing your reality,” explains The Guardian’s helpful reality guard. 

By way of explanation, she discusses some vague abuse* her family directed towards her as a child, and then asserts that her mother’s denial of the issues, the “erasure of the abuse,” was, to her, “worse than the abuse.”

I can see that. But what if “your reality” — what you defend — is irreal itself?

Sure, she thinks Trump and the Republicans are “gaslighting” her. Well, welcome to the club, Ms. Leve. I thought Bush and the Republicans were gaslighting me — as were, in the previous century, the Clintons and all those Friends of Bill, and, more recently, Obama and Pelosi and the incredibly fawning media.

The problem sure looks like the proverbial protesting about the mote in the other guy’s eye while not seeing the two-​by-​four in one’s own. But it is worse when the lumber juts from most eyes on both sides of the partisan aisle — enough to build a McMansion with all the spare wood.

Leve advises the reader to do like she did — trust in her “version of reality. Not allowing it to be altered on demand. Resistance.”

Good advice, but only if you aren’t deluded.

And could politics be too often an avenue for wounded people to lash back at (or make up for) childhood grievances? That would explain a lot.

This is Common Sense. I’m Paul Jacob.

 

* Ms. Leve helpfully expands upon the chaos of her childhood elsewhere. Sounds horrifying enough to me. She is convincing.


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