Dear John,
Three weeks ago, we learned that the U.S. economy grew at an annualized two percent rate in the first quarter of this year, well above economists’ expectations.
Then last week, we learned that inflation dropped for the 12th month in a row to three percent, down from a peak of nine percent.
This is really good news for the economy, but if you didn’t hear much about it, you’re not alone.
The mainstream media has always had an enormous bias towards bad news and negativity. As a result, many Americans continue to think the economy is awful — and that's a huge problem if you don't want to see Donald Trump back in the White House.
With the 2024 election season fast approaching, we need to set the record straight. Thankfully, there's no one better at explaining complex economic ideas and shaping public opinion than the team here at Inequality Media Civic Action. But we rely on donations to power everything we do.
We’re launching a new content campaign, including a series of videos, on President Biden’s successes on the economy, as well as Donald Trump’s failures. Will you make a donation to Inequality Media Civic Action and help fund our public education efforts and ensure the American people know the truth about the economy?
History shows that presidents tend to lose reelection bids when about 70 percent of Americans think the country is on the wrong track. In an NBC News survey conducted a few weeks ago, the percentage of Americans saying the country is on the “wrong track” was 74 percent.
In fact, according to the Gallup economic confidence index, Americans haven’t felt this bad about the economy since the global financial crisis in 2008 and 2009. We need to change those numbers, and fast.
Thankfully, there’s plenty of good news on the economy to share. In the four years of Donald Trump’s administration, total spending on manufacturing facilities grew by five percent. During the first two years of Biden’s administration, manufacturing investment more than doubled, and about 800,000 manufacturing jobs were created. These remarkable results are the outcome of Biden policies, including the Inflation Reduction Act and its green technology provisions, the infrastructure bill, and the CHIPS Act.
And wages? For a while, real (adjusted for inflation) wages really were falling, and many economists were worried about rapidly rising unit labor costs. But now that inflation is subsiding, unit labor costs are moving in the opposite direction, and real wages are picking up again.
None of this would have been accomplished if Joe Biden had followed Republicans’ advice on the economy, and voters need to know that.
The talented team of digital producers, artists, and writers here at Inequality Media Civic Action are incredibly effective at reaching audiences via social media and persuading undecided voters. For instance, one of our recent videos on the economy received triple the average watch time of most videos on Facebook. And we get it done without spending tens of millions on ads.
That’s why we’re asking you to make a donation to help ramp up our messaging operation.
Please make a donation to Inequality Media Civic Action and help us get the truth out and explain how the Biden administration’s economic agenda is succeeding.
Thanks for joining with us in the fight for democracy,
Robert Reich
Inequality Media Civic Action
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