Business
2024 Presidential Election and Economic Landscape
Explore the potential impact of the 2024 Presidential Election on the economic landscape. Gain insights into the policies and decisions that could shape the future of the economy in this pivotal time.
The consumer sentiment regarding the economy is expected to play a significant role in shaping the outcome of the 2024 presidential election. President Biden continues to grapple with addressing inflation, a major challenge that spiked during his initial years in office but has shown signs of cooling recently. Conversely, former President Donald J. Trump’s claims of economic achievements are overshadowed by the widespread job losses and disruptions in the supply chain caused by the pandemic.
Fact Check on Economic Claims
Both candidates offered misleading information about inflation:
- Claim by Mr. Trump: “They had inflation of — the real number, if you really get into the real number, it’s probably 40 percent or 50 percent when you add things up, when you don’t just put in the numbers that they want to hear.”
- Claim by Mr. Trump: “I think it could be as high as 50 percent if you add everything in when you start adding energy prices in, when you start adding interest rates.”
This is misleading. Karoline Leavitt, a spokeswoman for the Trump campaign, highlighted a 41 percent increase in energy prices since January 2021, with specific energy costs like gasoline rising over 50 percent during that period.