(WIFR) – After millions of Americans voted on November 5, thousands shared their opinions on what the biggest issues in the country are. Many say it’s the economy.
According to the government, the U.S. economy is steadily growing, seeing a 2.8% growth in July, August and September thanks to consumer spending. But many people think the economy isn’t in the best state.
In 1992, James Carville famously said, “It’s the economy, stupid.” And for many Americans today, that’s exactly what the issue is. CBS News reports two-thirds of exit poll respondents describe the economy as bad or not good. These same people also report believing they are worse off now than they were 4 years ago.
Rockford University professor Bob Evans shares that while the economy is on a healthy path, many people continue to suffer lingering pandemic-era inflation.
“What if things aren‘t going well for me and those media people and those darn democrats keep telling me the economy is in good shape,” Evans says. “At a certain point, I‘m going to say, ’Nuts to you. It’s bad for me.’”
MainStreet Financial Group‘s owner Jennifer Zalapi says during this current presidential term, a big fear amongst citizens was retention. She explains while retention is present, it hasn‘t been as drastic as people feared.
Zalapi says that American salaries aren’t keeping pace with inflation, but when you look at the backbone of the economy, things are looking good. In fact, since August, there has been a .2% drop in unemployment across the country.
“With the economy itself and all the things that play into it, the Fed changing the interest rates that affect loans and that type of thing, as well as the direction that the market takes, is the bigger picture,” Zalapi says. “More and more people are getting aware of that and paying more attention rather than just to their expenses.”
Economic health is fragile, according to Evans. He says if we want to maintain it, we have to strive for long-term growth.
“That’s going to keep us at work. That’s going to keep people getting paid and maybe getting raises,” Evans says. “The main most important thing is to keep the economy healthy.”
President-elect Donald Trump says his plan for revitalizing the economy involves imposing tariffs on imports to the U.S. Some going as high as 60% on goods from China.
According to The Atlantic, the U.S. saw the best economy in the 60 years after World War II. This came after the rough patch that the country faced following the 1929 stock market crash.
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