How Democrats were tricked into believing the market was powerful, according to a study released on Tuesday by Polititico. In that study, past U. S. Comptroller of the Currency Eugene Ludwig explained that “voters were best about the business” and it was the “data” that “was wrong”.
Some Democrats were perplexed by the apparent disconnect between the “economic reality” as depicted in several government statistics and the general public’s perceptions of the market on the ground prior to the presidential election, according to Ludwig.
” Some in Washington … charged that right-wing sound chambers were conning citizens into believing completely absurd stories about America’s decline”, Ludwig continued.
But as it turns out, it was Politico itself ( and dozens of other propaganda outlets ) that was” conning” the American people into believing the economy was prosperous.
Take the example of this Politico post from October of 2024:” Harris is riding a dream business into the vote. It might be too soon for citizens to take notice.
The numbers showed a” solid economic picture” and a “remarkable victory” for the Biden-Harris administration, according to the article, which cited statistics like the unemployment rate, the stock market, and gross domestic product ( GDP ).
Less than a fortnight later, Politico released still another acclaimed economics review.
” ‘ Remarkably strong’: Economy shows strong growth in final statement before election”.
The article stated that Vice President Kamala Harris ‘ surprising resilience in the final months of the presidential campaign was a positive result, adding that voters were” still incensed over still-elevated price levels since Biden and Harris entered office.”
Times earlier Politico salivated at” Biden’s ‘ holy blood ‘ business”.
” The strong job marketplace, coupled with the close of price spikes, bars Republican ‘ campaign information that the market is weakening”, the report stated.
A separate Politico report said,” Trump world is seeing signs of trust” with the business, framing the content around how” US growth crushes expectations, boosting Biden’s economic pitch”.
Democrats thought they had a powerful financial information because they were going into drive promoting the tragic economy, as a propaganda press did, and Politico did as they did. Americans were yelling for assistance as Democrats screamed into their sound room.
Ludwig said that the “government figures were necessarily weak” and “misrepresentations” of the business.
” What if, in fact, lighter assessments of the market were more honestly attached to reality”? Ludwig posited. Democrats” seemed much more motivated” to accept what the government has to say about the economy, while Republicans” seen more inclined” to accept what they were seeing with their own eyes, he added.
According to Ludwig, the “filters used to determine the headline data are flawed” and “paint a far brighter picture of truth than bears out on the earth.”
Ludwig cited the U-3 poverty rate as being deceptive, explaining how that figure does not account for the number of Americans who have stopped looking for jobs because they are so discouraged by the job sector. He points out that the unemployment rate does not account for “anyone’s sacrifice of income.”
According to Ludwig, “nearly one of every four workers is essentially unemployed in America nowadays— almost something to celebrate” if the government filtered the statistics to include those who can’t get anything but part-time work or just make” a poverty wage.”
( Notably, Politico did its best to celebrate the numbers, calling Biden’s labor market in June” too hot to handle” and lauding its” surprising resilience” that helps “bolster President Joe Biden’s economic messaging”. )
Then, Ludwig delved into weekly earnings, stating that the median weekly earnings would decline from about$ 62, 000 to about$ 52, 000 if the government were to include unemployed and part-time workers.
” Think of that: American workers on the median are making 16 percent less than the prevailing statistics would indicate”, Ludwig wrote.
Ludwig also discussed how the GDP and inflation statistics were inflated and how they painted a better picture than the facts suggested.
” ]Statistical discrepancies ] all shroud the reality faced by middle- and lower-income households”, Ludwig wrote. The lower 60 % of Americans with incomes did not receive enough positive change over the past four years.
The Biden-Harris administration continued to sell the false impression that the economy was expanding by touting erroneous and false statistics. That’s expected, of course. However, a functioning press would have questioned the figures and information rather than rehashed them on demand. Politico instead refuted the data and suggested that the government may have deliberately misled the public.
So sure, maybe some Democrats were” tricked”. However, it wasn’t just due to false government statistics; it was also the result of propagandists like Politico pushing a false narrative across the finish line.
The Federalist’s election correspondent, Brianna Lyman. With a degree in international political economy, Brianna received her degree from Fordham University. Her work has been featured on Newsmax, Fox News, Fox Business and RealClearPolitics. Follow Brianna on X: @briannalyman2
