Quote:
Originally Posted by KootenayFlamesFan
Really? Is there a stat that shows this? If so that is bonkers.
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It's not that crazy. Real wages (i.e. after inflation) went up 4.3% from the start of Trumps term until COVID. Whereas right now they're actually lower than they were pre-COVID.
And then there's inflation. The Consumer Price Index went up about 2.2% a year under Trump, while it has gone up about 5.5% a year while Biden has been in office.
And house price to income ratios were relatively stable during Trump's time in office, whereas now they're up about 30% from 2021. Combine that with the dramatic increase in interest rates, and housing has gotten significantly less affordable in the last few years.
That's not to say that Trump's policies were behind the economic stability while he was in office, and you could even argue that his policies are actually a source of a lot of the problems under Biden, given that economic policies often have a very delayed effect. But voters don't look at it from that perspective. They see their wages stagnate and the price everything going up dramatically, and then they consider voting for a guy they don't particularly like just for the sake of change.