The question of whether Americans are better off now than they were four years ago has become a topic of debate as the next presidential election approaches. While some have used Ronald Reagan’s famous question to argue for Donald Trump’s return to power, a literal interpretation of the question actually favors President Biden. Four years ago, the country was grappling with high numbers of Covid-19 deaths, soaring unemployment rates, and a violent crime wave. Today, the US has experienced a significant decrease in unemployment, low inflation, and a decline in violent crime rates.
Some attribute the nostalgia for Trump to the belief that the problems of his last year in office were mainly due to the Covid pandemic. However, this explanation overlooks the delayed effects of the pandemic on Biden’s administration, such as the inflation surge in 2021-22. Despite the rise in prices, incomes have also increased, and most Americans are better off now than they were before the pandemic. Surveys in swing states show that while people may feel that the economy is doing poorly, they believe they are doing well personally, with a majority reporting that their financial situation has improved in the last five years.
Negative perceptions of the economy may be influenced by the frustrating effects of inflation, where wage gains are eroded by rising prices. However, when asked about their personal well-being, respondents are generally positive, although partisanship can affect responses. Trump-stalgia continues to be a strong force, as many Americans seem to have a romanticized view of the former president’s time in office, overlooking the challenges faced during his tenure. Biden has led the country to a place of low unemployment, low inflation, and falling crime rates, but many are unaware of these positive developments.
Overall, most Americans are better off now than they were four years ago, with low unemployment, increased incomes, and decreased violent crime rates. However, some remain skeptical or uninformed about these improvements, which may be influenced by partisan beliefs or a skewed perception of the past. Despite the positive economic indicators, the narrative of being worse off than before persists, highlighting the complexity of how individuals perceive their own well-being and the state of the economy.
