Over at National Review, Noah Rothman takes on the question of why so many people don't believe the Biden economy is actually pretty good. His answer is simple: It's because the Biden economy isn't pretty good, and the only ones who don't get that are sheltered elites who obsess over BLS statistics. Ordinary people, for whom Biden's economy "has become a suffocating burden," aren't being bamboozled by the media. "They have every reason to believe the economy is in rough shape."
Maybe. But first let me share the results of a recent poll with you. It asked people what they thought of the economy:
Roughly similar percentages of Democrats and Republicans agree that their personal financial situation is good. However, only 5% of Republicans say the national economy is good.
It's common for people to be more optimistic about their personal situation (crime, schools, finances) than about the national situation. It's also common for polls like this to produce partisan results. But 5%! That's ridiculous.
In other words, when you see polls showing that "Americans" are losing confidence in the economy—and this is indeed the direction of recent polling—it's driven almost entirely by Republicans. And I think even Rothman would probably agree that 5% is too absurd a number to reflect actual reality. It's almost pure partisanship, not a genuine view of how good the economy is.
It's not Americans who think the economy is bad. It's Republicans. And it's not because their personal financial situation is bad. It's because they dislike Joe Biden. They are indeed being bamboozled by the (right-wing) media.
POSTSCRIPT: I should toss out one other thing. Even non-Republicans underrate the economy, and this is for a pretty simple reason. BLS obsessives like me know that inflation is down a lot and that, in any case, wages mostly kept up with inflation back when it was higher. But everyone else—which is just about everyone—merely has a vague idea of what the economy is like, and that idea doesn't turn on a dime. It takes at least a year, and maybe more, before views of big national trends change, and that much time hasn't passed yet. In the meantime, inflation is still around, house prices are high, gas prices are high, and cars are more expensive thanks to the Fed's high interest rates. So plenty of people are still wary of where things are going.
Still, even with that said, weak views of the economy are mostly just the product of Republicans who refuse to admit that anything under Joe Biden could be any good.