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Rising Income Inequality Under Biden Linked to Middle-Class Support for Trump

share-iconTuesday, December 31 comment-icon3 weeks ago 7 views
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Rising Income Inequality Under Biden Linked to Middle-Class Support for Trump

Credited from: LEMONDE

  • Positive economic indicators: Under President Biden, the U.S. saw a significant drop in the unemployment rate from 6.4% to 4.1% by October 2024.
  • Substantial GDP growth: GDP growth rates included 5.8% in 2021 and 2.8% in the third quarter of 2024.
  • Declining inflation: Inflation decreased from a peak of 9.1% in June 2022 to 2.4% in September 2024.
  • Perception of immigration issues: Many Americans expressed dissatisfaction with immigration policies during Biden's administration, possibly affecting voting behavior.
  • Inflation perceptions vary: Perceived inflation was 6% by early 2024, impacting low-income earners significantly.

For more details, read the original article here.

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Income inequality Trump Biden Economic performance Middle class
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