After nearly a year away from the platform, Donald Trump made a comeback on X this week, asking his 89 million followers, “Are you better off now than you were when I was president?” This question mirrors Ronald Reagan’s famous 1980 campaign query: “Are you better off today than you were four years ago?”
Trump’s focus on the economy is no surprise. Polls consistently show that the economy is a top concern for American voters. A recent survey by The Economist and YouGov highlighted “inflation/prices” and “jobs and the economy” as major issues for voters. Moreover, polls reveal widespread dissatisfaction with the current economic situation—an ideal scenario for a presidential challenger.
However, Trump faces a challenge in delivering his economic message effectively. The dynamic of the election has shifted with Kamala Harris replacing Joe Biden as the Democratic candidate. Just a month ago, Trump appeared dominant at the Republican National Convention, buoyed by a high position in the polls and having survived an assassination attempt. Now, he has lost that momentum and struggles to counter Harris’s growing enthusiasm.
Harris’s campaign strategy focuses on addressing the high cost of living directly. In a recent speech in North Carolina, she proposed expanding child tax credits, aiding first-time homebuyers, and promoting affordable housing construction. She also vowed to tackle high food prices by combating “price gouging” and excessive corporate profits. Harris emphasized, “By any measure, our economy is the strongest in the world,” while acknowledging that many Americans still don’t feel the benefits in their daily lives.
Although Biden and Harris can point to strong economic growth, record job creation, and a drop in the inflation rate below 3% for the first time in Biden’s presidency, high prices continue to overshadow these positives. Voters are more concerned about the cost of living than the inflation rate itself. As Jared Bernstein, chair of Biden’s Council of Economic Advisers, put it, “A central banker wants inflation to get back to target. A shopper wants his or her old price back.” The sentiment is clear: “the vibes are off,” according to Bernstein.
I spoke with voters at a crab shack on the Chesapeake Bay in Maryland to gauge their feelings. Jeff Tester, who works at a nearby marina, expressed frustration with rising prices, saying, “I get paid by the hour. I get up to go to work every day. I think you have to do that to get the American dream. But I just know it's getting harder.” He attributed the problem to Democratic policies, saying they are hurting working Americans.
While many diners voiced concerns about inflation, opinions on responsibility varied. Dan Nardo, a retired boat broker, believed that factors such as the pandemic, oil prices, foreign conflicts, and supply chain issues played a bigger role in price increases than the actions of the U.S. president.
