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Americans cannot afford the Biden economy, says Larry Kudlow

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The question of whether Americans are better off than they were four years ago is a key factor in determining how they view the current government. This question was famously posed by Ronald Reagan during his presidency. The upcoming debate between Trump and Biden on June 27 will likely focus on this issue.

When looking at the data, it is clear that during Trump’s term, Americans felt more financially stable compared to Biden’s term. Real wages increased significantly under Trump, while they decreased under Biden. Inflation also rose at a much faster rate under Biden, leading to higher costs for everyday essentials such as groceries, gasoline, and housing.

Household wealth, which includes assets like cash, home value, and stocks, saw a noticeable increase during Trump’s presidency, but remained stagnant under Biden. Trump’s tax cuts also had a positive impact on the economy, leading to increased prosperity and optimism among Americans.

As the election approaches, the state of the economy and personal income will play a critical role in determining the outcome. Political scientists have identified real income as a key indicator for predicting presidential election races. People tend to make up their minds between early summer and Labor Day, so the current advantage seems to be in favor of Trump.

Overall, the data shows that Americans were better off during Trump’s term in office compared to Biden’s presidency. This economic prosperity, coupled with Trump’s tax cuts and growth initiatives, could potentially sway voters in his favor in the upcoming election. It will be interesting to see how these economic factors play out in the campaign leading up to the election.

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