Joe Biden is, at the moment, losing his reelection campaign. And he is doing so while presiding over the strongest economy the United States has ever experienced.
The jobless rate is below 4 percent, as it has been for nearly two and a half years. Wage growth is moderating, but it is higher than it was at any point during the Obama administration; overall, Biden has overseen stronger pay increases than any president since Richard Nixon. Inflation has cooled off considerably, meaning that consumers’ purchasing power is strong.
Yet Biden’s approval rating is below 40 percent. His disapproval rating is 56 percent. Donald Trump is beating him handily in most key swing states. And there’s a chance that Trump might edge out Biden in the popular vote, particularly if he continues to expand his popularity with Black and Latino voters in blue and purple states.
