Ex-clinton Comptroneller says “voters were right” about the bad economy Biden, the Government’s numbers were “wrong”
Financial Advisor Eugene Ludwig said voters are right and Democrats were not wrong on the state of the economy that led to the election in the article on Tuesday.
“Prior to the presidential election, many Democrats are confused by seemingly unrelated relationships between” economic reality “, which is reflected in different government statistics and public perceptions about the economy on the ground,” Ludwig Ua wrote Politically The piece entitled, “The voters were right about the economy. The data was wrong.”
“Many in Washington pierced themselves for the failure of the public to register how strong the economy was really. They accused Echo Chambers right-wing echo to compile voters to trust completely nonsense about the fall of America,” he said.
“What they rarely considered was whether anything else could be responsible for the interruption of the relationship – whether, for example, state statistics were basically wrong.”
Politico claims that a slower salary growth can be a ‘good thing for workers’
Ludwig was previously a former US supervisor to the currency under President Bill Clinton, partly an independent bureau in the Treasury Department.
Eugene Ludwig criticized the Democrats who have been in the great economy during the Administration of Biden despite the voter of pessimism. (Reuters/Elizabeth France)
After moving to the private sector, he became “increasingly skeptical that government measurements correctly record a reality that defines unemployment, the growth of salaries and the power of the economy as a whole.”
Through research in his organization, the Ludwig Institute for joint economic prosperity, he discovered “20 or more years, including months before the election, The perception of voters more reflected reality than the present statistics. “
“Democrats, as a whole, seemed much more inclined to believe what economic indicators reported. The Republicans, in contrast, seemed more inclined to believe what they see their two eyes,” Ludwig remarked.
Although Ludwig called the agencies employees who called these statistics “talented and well -meaning,” he said that the filters they used were “flawed” and the resulting budgets were “misleading”.
In one example he said unemployment reports Often, people “reluctantly insufficiently employ” as employed and neglect Americans “discouraged” enough to stop looking for a job.
“[T]He prevails the statistics do not take into account the weakness of the income of any individual, “he added.” So you could be homeless on the streets, making occasional income and functionally unable to maintain family food, and the government will continue to count you as “employed.”
Ludwig wrote that the perception of voters about economics is usually more precise than state statistics. (I-stock)
Ludwig also aimed at the allegations of Democrats who are The inflation cooled From their record high and these wages have increased faster.
He wrote that this is usually based on the numbers of consumer price index (CPI), which monitors the prices of 80,000 goods and services throughout the economy. However, he warned that most modest Americans spend more on basic benefits such as foods and rent, not on CPI goods, painting with a large different picture.
“If prices for eggs, insurance premiums and lease of study apartments grow on faster clip from those luxury goods and other homes, CPI underestimates the influence of inflation on most Americans. This, of course, has just happened,” Ludwig said.
Republicans and Democrats had to look more accurately at the economy and government statistics.
“[I]F prevailing indicators are still wrong, the facts are not applied, “he concluded.” We have this in the realization that we pass Miraga who strayed with democrats in 2024. Now the question is whether we will correct the course. “
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On Wednesday, the day after his work, another Politically The article reported on the comments of the former Bureau of Labor statistics, who worried that Doge would disrupt the accuracy of the information itself that Ludwig said he was already incorrect.
The controversial title of politics has previously described former Vice President Kamal Harris, who ran on the “Economy of the Dream”. (Getty Images)
The main media also tried to defend the economy of the former President of Bidan in the weeks and months that led to the election.
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In October, Correspondent Victoria Guida wrote that “[former Vice President Kamala] Harris drives an economics in the dream to the polls. Maybe it’s too late for voters to notice. “
“A positive economic picture is an extraordinary victory for both bidet and for bidet [Federal Reserve Chair Jerome] Powell, even while consumers are still feeling higher prices, “Guida wrote.
