September 17, 2019

Whose Economy Is It Anyways?

“President Trump is running for re-election on the strength of the economy, and why not? The unemployment rate is lower than it’s been in five decades. The stock market is booming. Overall economic growth has been steady.

There’s just one problem: Voters are not particularly enthused about it. Recent polls suggest a substantial majority of Americans feel the economy is working only for “those in power.”

A big reason for this disconnect is that many Americans feel insecure. They may be doing well at the moment, but they fear that, however high they are on the economic ladder, a single bad step or bad event could cause them to slip. A booming economy hasn’t quieted these concerns, because insecurity remains a huge and growing problem in ways that voters and candidates instinctively get but the sunny job numbers largely hide.

Insecurity is the broad challenge that all 2020 presidential candidates must address — and it helps explain why Democrats are tripping over one another to present bold plans for universal health care, public retirement supplements, guaranteed jobs and a much higher minimum wage.”

Read more

JJ Editor's Picks

"‘Great-power competition” is increasingly a central concern in Washington foreign-policy circles. The 2017 U.S. National Security Strategy warns that “China and Russia challenge American power, influence, and interests, attempting to erode..."

"Just to be sure I heard it correctly, I replayed former vice president Joe Biden’s eye-popping gaffe from Thursday night’s debate instructing poor parents to put the record player on to help their children learn. “#Record player” was trending on..."

"For many people, getting away from it all means decamping to a cabin in the woods or a house by the beach. Soon there may be another option: lifting off to a hotel serenely orbiting high above the planet. Though space hotels have long belonged..."

"I didn’t lead a life of any particular hardship growing up, but as a kid in New York in the 1980s, I did have to do without certain things that many of today’s middle-class parents deem essential — a yard, for example — and my dad tells me..."

"Not too long ago, the “gig economy” looked as if it just might be the future of work in America.The rapid rise of digital platforms that let people earn money by driving passengers, delivering groceries, walking dogs or running errands for..."

""The Goldfinch" has a painting at its center, but despite a classy palette of ingredients conjures a lifeless, disjointed picture. Adapted from a Pulitzer Prize-winning novel, the movie represents a transparent bid to bring the book's prestige..."

"To make sense of what's going on as Israelis head to the polls Tuesday, one would need to be part mathematician and part psychologist. Determining who will sit with who in a prospective coalition is like choosing sides at a schoolyard pick-up..."

"It’s humiliating to consider the things we know instead of the things we should know. I can’t tell you exactly how the Michigan Republicans are trying to illegally gerrymander their state, but I know why Lana Del Rey is angry on Twitter. So it..."