Imagine you’re on a plane, cruising at 30,000 feet, and the pilot announces that the aircraft is about to make a soft landing. You brace yourself for the descent, expecting that gentle touch of the wheels on the tarmac, the moment when you can finally exhale, knowing you’ve arrived safely. But what if that moment never comes? What if the plane hovers just above the runway, never quite touching down? That’s the metaphorical state of America’s economy today—a soft landing that never quite materializes, leaving passengers in a perpetual state of anticipation and unease.
The Soft Landing
When the President took office, the promise was akin to a skilled pilot assuring passengers of a smooth landing after a turbulent flight. The economic indicators—low unemployment, rising wages, robust consumer spending—suggested that the plane was indeed descending. But despite these promising numbers, the President isn’t getting the credit for piloting the nation toward economic stability.
The Disconnect: Hovering Above Reality
The plane is hovering, and the passengers are restless. According to the Harvard Gazette, the U.S. economy is doing well by almost all objective measures. Yet, a CNN poll reveals that 58% of Americans believe the President’s policies have worsened economic conditions. It’s as if the passengers can see the runway but don’t believe the pilot can land the plane.
The Weight of Inflation and Housing
Inflation and housing affordability are like unexpected gusts of wind, pushing the plane off its descent path. Inflation peaked at 9.1% in June 2022 before dropping to 3.2% in July 2023. Housing affordability is at its lowest point in decades. These factors contribute to the feeling that the plane is stuck in a holding pattern, circling above the runway but never landing. Political polarization adds another layer of turbulence. CNN’s poll shows a stark divide: only 2% of Republicans and 48% of Democrats believe the economy has improved under the current administration. It’s as if half the passengers trust the pilot, while the other half are ready to initiate a mid-air mutiny.
The Unending Flight
So here we are, in a plane that promises a soft landing but hovers indefinitely. The economy is strong, but the mood is sour. The indicators suggest we should have landed by now, but public sentiment keeps us airborne, in a state of collective anxiety.
- ABC News. (n.d.). Voters not giving Biden credit for improving economy, experts say. Retrieved from https://abcnews.go.com/Politics/voters-giving-biden-credit-improving-economy-experts/story?id=100769271
- Vox. (n.d.). Why the public doesn’t credit Biden for the economy. Retrieved from https://www.vox.com/23815490/joe-biden-economy-bidenomics-jobs-inflation-2024-election
- Pazzanese, C. (2023). The economy keeps getting better. Our moods? Not so much. Harvard Gazette. Retrieved from https://news.harvard.edu/gazette/story/2023/07/the-economy-keeps-getting-better-our-moods-not-so-much/
- Morrow, A. (2023). Why Biden’s strong economy feels so bad to most Americans. CNN Business. Retrieved from https://www.cnn.com/2023/09/07/business/us-economy-biden-approval/index.html