An Answer to Alan Blinder: People Vote Their Wallets

I am perplexed by his inability to understand why the public is unhappy with the economy

Letter to The WSJ.

"I am perplexed by Alan Blinder’s inability to understand why the public is unhappy with the economy (“The Economy is Great. Why Do Americans Blame Biden?” op-ed, Oct. 19), and not for the first time. The answer is easy: The average standard of living for earners is down since President Biden took office.

Between January 2021 and September 2023, average weekly earnings rose 11%, while the consumer-price index increased 18%. Both figures are from the U.S. Bureau of Labor Statistics.

Presidents always receive credit for good times and blame for bad times on their watch, whether it is wholly fair or not. My recommendation to Prof. Blinder is to watch people’s wallets and what they can buy with what’s in them. It’s as simple as that.

Em. Prof. Michael L. Walden

North Carolina State University

Raleigh, N.C."