Noah Smith, replying to Michael R. Strain: The Wall Street Journal appears to be using this USDA data, which disagrees with both the national accounts data and the Consumer Expenditure Survey:
Sorry you haven't gotten your 2024 Biden recession, nor your Biden unemployment, nor your desired Biden gas prices, nor your Biden GDP downturn, nor falling consumer confidence, nor much of any other thing that you'd hoped to blame Biden for. That's why you have to settle for economic table scraps.
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Noah Smith, replying to Michael R. Strain:
The Wall Street Journal appears to be using this USDA data, which disagrees with both the national accounts data and the Consumer Expenditure Survey:
Chart:
https://ers.usda.gov/data-products/chart-gallery/gallery/chart-detail/?chartId=76967
I divided personal consumption expenditures on food by disposable personal income and here's what I got.
Graph of food costs divided by disposable personal income, 1981-2023:
https://pbs.twimg.com/media/GG4n7WlboAE99Iq?format=jpg&name=medium
Sorry you haven't gotten your 2024 Biden recession, nor your Biden unemployment, nor your desired Biden gas prices, nor your Biden GDP downturn, nor falling consumer confidence, nor much of any other thing that you'd hoped to blame Biden for. That's why you have to settle for economic table scraps.
The Dow Jones just topped 39,000 this afternoon. That's never happened before. Ever.
Another dark day for the failed Biden economy.
It's more than a 25% increase over the highest peak on any day during Trump's presidency.
Remember when the soaring stock market used to be a loud GOP talking point for a sitting president's achievement?
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