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As Americans continue to deal with ongoing sky high inflation, Kamala Harris and her campaign are trying to paint a rosy picture of the economy.
But voters aren't stupid (even if Team Harris is going to treat them as such).
They remember that the economy was better under President Donald Trump. Americans are not imagining the growing costs of groceries, gas, and housing.
In fact, 3 in 5 Americans believe we're in a recession right now.
CNBC reports, "Roughly 3 in 5 Americans believe that the U.S. is currently in a recession, according to a new survey of 2,000 adults by Affirm. Of those respondents, most said a recession started roughly 15 months ago, in March of last year, and could last until July of 2025, citing higher costs and more difficulty making ends meet, the San Francisco-based fintech company found in the June poll."
Why do they think we're in a recession? Inflation is at the heart of it.
"Persistent inflation has weighed heavily on households, according to Vishal Kapoor, senior vice president of product at Affirm," CNBC noted. “With confidence in the U.S. economy at a low point, consumers are urgently seeking ways to feel in control of their finances,' he said."
The report indicates that many Americans have gone through their savings and are depending on their credit cards more than ever to get by.
There's also a divide between homeowners or those with significant financial assets, and the very large amount of Americans who don't have either.
As JP Morgan chair Joyce Chang described this divide in May, “If you’re a homeowner or if you own financial assets, you’ve done very well, but you’re leaving out huge segments of the population."
“The wealth creation was concentrated amongst homeowners and upper-income brackets, but you probably have about one-third of the population that’s been left out of that — that’s why there’s such a disconnect,” Chang said.
Kamala Harris does not say the word "inflation," but that doesn't mean it's not there and that Americans at-large don't see it. It's unavoidable for the middle and working classes.
Credit doesn't last forever and many families might start to feel the financial pain, even worse than now.
Do voters look to Donald Trump for a better economy, or do they believe what Kamala Harris is trying to sell?
The price of eggs in November might give the best answer.
When Trump was in charge I was able to save $1,200 a month in a high yield savings account. Since Biden took charge I can only save $200 per month. Voting Straight Republican Ticket!