The Shrunken Safety Net Could Help Explain Bad Feelings About Economy
WASHINGTON ― There’s a raging political debate about why voters hate the economy despite low unemployment, rising wages, slowing inflation and strong consumer spending.Are people brainwashed by TikTok? Is it partisan misinformation, or maybe too much gloomy journalism? Did no one notice the plummeting cost of a dozen eggs? These are the questions vexing the White House as President Joe Biden’s poll numbers slump ahead of the 2024 election.There’s another possible reason for the bitter views of the economy, a policy explanation hiding in plain sight: Some people’s lives are harder now than they were three years ago because the government is doing less.Starting in 2020, the federal government vastly expanded social programs, paused student loan payments and put a moratorium on evictions. Bu...
