THE PRESS CAN STILL AMPLIFY, OR MUTE, STORIES AND MOODS: A Booming Economy: Who Cares?
I believe President Trump’s approval rating on his “handling of the economy” now stands consistently below 40%. This is rather weird, given that the U.S. economy is as strong as it has ever been. I suppose when most people say “the economy,” what they mean is gas prices.
But the most recent numbers released by the Census Bureau indicate that in 2025, the U.S. poverty rate was the lowest it has ever been, while median household income was the highest it has ever been, at $87,460. The stock markets hit record highs, too.
One would think that Americans would be happy about such a strong economy, but my guess is that most aren’t even aware of it. Either that, or the current anxiety about gas prices has overshadowed everything else.
I’m reminded of a passage from Mark Penn’s book on how the media treated the economy in 1992:
I have found over the years that there is often a huge disconnect between belief about the economy and the true economic state of affairs. Until the statistics are actually published, people tend to assess the economy through the eyes of the national media. In 1992, when Bill Clinton won the presidency based on worries about the economy, the statistics that came out after the election showed that the period leading up to November had actually been a period of record growth. . . . In his 1996 State of the Union speech, President Clinton said we had the best economy in thirty years — a statement that sent a flurry of reporters to check actual statistics rather than popular political movements and sweeping, politically motivated statements. The more people looked at the facts, the more they agreed, and six months later, there was near-unanimity that the economy was in good shape. Had the economy changed? No, what had changed was knowledge about the true facts of the economy.
Hmm. Regardless of the data, we get bad economic “news” when there’s a Republican in the White House., and good economic “news” when a Democrat is running for reelection.
Trump isn’t on the ballot, though.