I don’t jump and shout about sports, entertainment, religion, or politics.
I’m just not built to be a follower, and no one can force me into that vessel. I appreciate followers and fellowships, because leadership is vital for guiding us forward. As you know, and as I often post, our society is a hot mess. Opinions clash everywhere, truths are obscured, and it often takes the drama of elections or sports outcomes to reveal what people know—and don’t know. Here’s what I’ve come to understand… oh, and before I go in, ELON MUSK’S NET WORTH ROSE 12 BILLION+ AFTER TRUMP WIN. WOW.
The recent election victory of Donald Trump wasn’t just about one issue; it was a seismic shift in the political landscape driven by a range of factors. It echoed a global trend of rejecting incumbents, marked a surge in Republican voter turnout, and underscored a fierce contest over the direction of American democracy. Above all, though, voters voiced one primary concern: the economy. That focus illuminates much of the story behind Trump’s reelection. And BTW, has anyone seen Cornell West? Why didn’t they show him on CNN?!I love our dear Professor! (OK I digress)
Despite positive macroeconomic indicators, the public has held an overwhelmingly negative perception of the economy, placing much of the blame on President Joe Biden and his running mate, Vice President Kamala Harris, for not sufficiently improving financial conditions. This pessimism persists even in the face of data showing job growth, rising consumer spending, and a robust GDP. For many, economic sentiment is not about numbers—it’s about experiences. When everyday costs feel exorbitant, abstract data fails to resonate. For those paying a premium for essentials or feeling priced out of homeownership, the American Dream can feel inaccessible.
Why Americans Feel Left Out of the Economic Boom
Housing costs are one reason. The record-breaking home prices seen month after month present a steep barrier to entry for new buyers. Mortgage rates hovering near 7% have left ownership out of reach for many, reflected in a 30-year low for home sales. For renters, it’s no better: nearly half of American renters spend more than 30% of their income on rent, a threshold the Department of Housing and Urban Development defines as “cost-burdened.”
This housing affordability crisis is exacerbating America’s wealth gap, creating economic stress even for those traditionally seen as well-off. For example, one in five households earning more than $150,000 annually report living paycheck to paycheck due to housing costs.
Inflation and Everyday Prices
Though inflation rates have stabilized, the cost of living remains steep. Prices are approximately 20% higher than when Biden took office, reminding Americans of inflation’s bite every time they shop. While gas prices have eased from the heights of 2022, other costs persist, leaving many Americans feeling financially strained.
Political Divides Shape Economic Perception
One’s view of the economy can often be predicted by their political allegiance. A recent Brookings Institution study revealed that economic sentiment swings based on which party holds the presidency. Republicans generally perceive the economy more favorably when their party is in power, while Democrats feel the same when theirs holds office. This effect was particularly evident as sentiment shifted dramatically with each administration’s change.
The US Economy by the Numbers
Underneath these mixed sentiments lies an economy that, by most metrics, is performing well. Unemployment is low, and companies continue to seek more workers than the labor force can supply. Although job growth has slowed, the economy still adds an average of 170,000 jobs per month—a similar pace to the pre-pandemic Trump years.
The GDP, the broadest measure of economic health, remains on an upward trajectory, positioning the U.S. economy as the strongest among G7 nations. Wages, too, have risen modestly, with disposable income increasing steadily for over two years—a record streak.
Consumers are showing resilience, with spending growth rising at a rate not seen since early 2023. These actions contrast with public sentiment, suggesting that while Americans may express frustration, they’re also participating robustly in the economy.
A Call to Action
Elections and economic debates can leave us feeling frustrated or inspired. I suppose it depends on what team you’re cheering for? Yet, as I see it, they serve as a reminder: Get up, make a move, and take control of your life. Otherwise, you risk being led along by others’ decisions, passively accepting what comes instead of choosing your own path. I wish us all peace, progress, unity, and strength in this journey forward.
By the way, my new book is here!
