CNN: Americans Need to Realize the Economy Is ‘Too Good’ Right Now

Is it a fear that you will have to empty your vehicle of gas? Is your heart sinking when you visit the grocery store? Well, according to CNN’s propaganda on Friday’s editions of Right Now Inside Politics, the problem was you just don’t understand that the economy is just “too good” right now. And as a result, President Biden’s poll numbers are in the toilet.

This round of shaming the economy is what? There were 390,000. News jobs created in May.

“And again, John, we heard the President say essentially the economy in In this historical context, the economy remains strong. We’ve heard over and over, I know you do all the time, the fundamentals of the economy are still there and they are still strong,” Right Now host Kate Bolduan.

With that narrative front and center, she then lamented to CNN White House correspondent John Harwood that the American people weren’t rewarding Biden with positive poll numbers:

However, the message isn’t getting across because people don’t believe it. Take a look at poll numbers. The President’s economic management has been historically poor. Do you sense that the White House knows this? Do they want to counter that?

Harwood, who carries himself as though he’s a member of the White House communications team, placed the blame for Biden’s poor numbers on the war in Ukraine. “They had some hope earlier this year of getting out of it, and then you’ve got the war in Ukraine,”He huffed.

Blaming the war was him once again hinting at the long-debunked “Putin’s inflation” argument from the White House. Meanwhile, he tried to paint a positive economic prediction President Biden would be happy with (Click “expand”):

Public sentiment is strongly influenced by gas prices. This, Matt said, is also a reflection of the strength of the economy’s job growth. The question here is whether the inflation level has reached a point where it can be considered too high. The White House will only move forward if inflation levels can be lowered and a peak is reached.

There are some indications that inflation pressures have slowed down. People aren’t content right now. But if they decline and continue to fall throughout the year it will make the Biden White House a better place than where we are right now.

In the next hour’s Inside Politics, host John King was speaking to Kai Ryssdal, the host of Public Radio’s Marketplace, who sincerely thought the economy was “a little too good” right now. “You don’t want to see 390,000 new jobs. Wage pressure increases, which drives inflation. [Fed chairman Jay]Powell and Federal Reserve want to know what Powell is trying to accomplish. cool this economy a just a little tiny bit.”

“So, sometimes good news can be too good, I guess is what you’re saying,” Before claiming that Biden was putting, King snorted. “American families, number one, and his own politics as we get closer to Election Day” second.

Drawing attention to the University of Michigan’s consumer sentiment index, King simply didn’t like how Americans weren’t giving Biden credit. “Consumer sentiment, even though the economy is adding robust jobs. As you mentioned, it is likely that you will be getting a raise if your job has a salary. If you want to switch, you can,” he tried to explain.

King went on to describe Americans as “in a funk” and that “gas prices, food prices” were the “2×4” “hitting them in the head.”

Ryssdal found the silver lining in that, despite inflation Americans still had to spend their money.

But when you look at consumers feeling bad, you have too – the flip side of that is the consumers are still spending. Wages are indeed slowing. However, the overall picture is still good. Consumers are spending because wages, hours worked and the possibility of getting a job are all just slightly ahead of inflation.

Of course, people are “spending” money. Every thing costs more.

This spin for President Biden’s struggling economy was made possible because of lucrative sponsorships from T-Mobile and 23andMe. The links below provide their contact information.

You can find the transcript below. To read it, please click on “expand”.

CNN’s Right Now
June 3, 2022
Eastern, 11:11:46

(…)

KATE BOLDUAN The economic fundamentals are strong and are not being challenged, as we’ve been hearing repeatedly, and I am sure you hear this all the time.

However, the message isn’t getting across because people don’t believe it. Take a look at poll numbers. The President’s economic management has been historically poor. Do you sense that the White House knows this? Do they want to counter that?

JOHN HARWOOD : They are very aware. For a very long time, the President was stuck at low 40s. There was some hope that they would get out of this earlier in the year, but then there’s war in Ukraine.

Public sentiment is strongly influenced by gas prices. This, Matt said, is also a reflection of the strength of the economy’s job growth. The question here is whether the inflation level has reached a point where it can be considered too high. The White House will only move forward if inflation levels can be lowered and a peak is reached.

There are some indications that inflation pressures have slowed down. People are unhappy right now. But if they decline and continue to fall throughout the year it will make the Biden White House a much better place than where we are right now.

(…)

Inside Politics
Eastern, 12:34:52

KAI RYSSDAL – If Jay Powell is trying to manage the economy, then this may be a bit too optimistic for you. It’s not what you want to see. This increases wage pressure which drives inflation. Powell, the Federal Reserve, are directly aiming at that goal, which is to cool the economy just a bit.

JOHN KING: So, sometimes good news can be too good, I guess is what you’re saying.

RYSSDAL: Right.

KING: You talk about Jerome Powell, the Fed. As we approach Election Day, the President hopes that the Fed can assist him in bending the inflation curve for American families number one and also his politics.

If you look at University of Michigan’s consumer sentiment index, it is almost as if there are no numbers. Simply look to the right of your screen. Despite the fact that there are more jobs than ever, consumer sentiment is still high. You probably get a raise if you already have a job. You can switch if you wish.

Americans seem to be in an economic funk. According to consumers, this is the four-by-4 of inflation. Right? They are being hit by high gas and high food prices.

RYSSDAL: Right. It’s absolutely right. This is why the consumer sentiment is so interesting. We feel bad about our economy for some reason. It’s $6.39 for a gallon of gas at the station right next to my home. It’s California. But on average it’s $4.70. That’s simply impossible.

But when you look at consumers feeling bad, you have too – the flip side of that is the consumers are still spending. Wages are indeed slowing. However, the overall picture is still good. Consumers are spending because wages, hours worked and the possibility of getting a job are all just slightly ahead of inflation.

As we know consumer spending or government spending for consumers is 70% of the economy. That’s the driving force behind the economic growth that Fed officials and others have seen for this quarter, and the future.

(…)