Democrats’ Weak Economy is Voters’ Top Issue
Next week’s election is a referendum on the Democrats’ broken economy.
November 4, 2022
The final jobs report before next week’s midterm elections showed the Democrats’ economy continuing to weaken. The labor force participation rate dropped, the unemployment rate rose and employers created the fewest number of jobs so far this year. Last week’s GDP report also included “warning signs” about the direction of the economy.
Beyond the hard economic data, polls reveal voters are increasingly pessimistic about the state of the economy and their own financial situations. Inflation is outpacing wage gains, effectively giving working Americans a pay cut. Inflation and a sinking market are also shrinking savings and retirement accounts.
The Wall Street Journal's Nick Timiraos discusses why American consumers feel the U.S. economy is bad.
— Face The Nation (@FaceTheNation) October 30, 2022
"Wages, they are not keeping up with prices," he says. "On paper, there are things you can point to that look great, but people don't feel great about it." pic.twitter.com/4v3kYXc4Y7
Americans overwhelmingly say the U.S. is already in a recession as they cut back on spending and dip into savings accounts to make ends meet. Voters who are most concerned about the economy plan to vote Republican by a more than 2:1 margin.
Bottom Line: Next week’s election is a referendum on the Democrats’ broken economy.
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