Economic discontent and presidential solutions

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The article discusses the nature of economic discontent and the potential solutions offered by presidential candidates. The author argues that complaints about the state of the economy and high inflation are misdirected, as objective measures show a reasonably healthy economy and improving inflation. The main source of dissatisfaction is affordability, with prices on goods like housing and food still higher than pre-pandemic levels. The author criticizes the idea that any candidate can quickly solve the affordability problem and evaluates the policy proposals of Donald Trump and Joe Biden. Trump's policies, such as tax cuts, immigration reductions, and tariffs, are unlikely to address affordability and may raise prices. Biden's policies, including raising taxes on high earners and corporations, expanding protection for undocumented immigrants, and advocating for tariffs on certain products, may have a deflationary effect on prices. The author concludes that while Biden's policies may not necessarily mitigate frustration with affordability, Trump's policies are more likely to worsen the problem.