“Days before election, economic data reveals gradual improvement, gloomy outlook,”
The article of exploration is entitled “Days before election, economic data reveals gradual improvement, gloomy outlook,” by Jonnelle Marte. With the closeness to the election, economic data reveals that the United States economy continues to improve from the recession caused by the Covid-19 pandemic, progressing slowly. The infections are on the rise, and economists say that voters may be influenced by the gloomy look to decide whether to back Donald Trump of Joe Biden. The economic data revealed an increase in incomes, consumers spent more, and the output increased. The economy is also far from where it was before the pandemic. The discourse was the center of Biden and Trump’s pitches to the voter. The incomes for consumers are slowly recovering, and low spending was channeled to goods such as shoes, cars, and clothing. Voters weigh their decisions on a range of issues. Biden promises to lift the federal minimum wage and invest heavily in infrastructure and green energy. Trump has indicated support for more federal stimulus (Marte, 2020).
The article reveals the dilemma in the state of the economy in the face of politics. There is an improvement in the economy despite the effects of the pandemic. The progress is slow. This utterance can be attributed to the pandemic’s ripple effects, which has crippled the complete opening of the economy. Fear can also be the cause because people are trying to be as careful as possible. The gloomy outlook relates to the slow economy than expected. The article depicts efforts towards economic recovery because the increase in the number of the case should have led to dwindling economy. The upward trend of the economy is a desirable indicator because other regions across the world are experiencing economic downturns because of the effects of covid-19. Businesses have closed down, and consumer purchasing power declined greatly. The gradual improvement of the United States economy is encouraging and hopeful to all the people despite the economic limitations.
The position from the article is that the gradual improvement is in terms of data but does not reflect the conditions of living of American. An improvement should be manifested in the quality of life being experienced by the people in America. The economic tides are the attribution for defiance on the rules put in place to combat Covid-19 because people have to work to feed themselves. Biden and Trump’s pledges aim to convince the public of the serene future ahead if they vote for them. The truth is that reality functions different, and economic tides would dictate the investment framework to embody. For example, when the pandemic persists, delivering on the infrastructural projects would be challenging because of the huge investment required.
The topic triggers in me hope despite doubts about the current economic state. The author’s perspective is also encouraging because elections are associated with tumultuous events, and revealing an improvement is an encouraging aspect. The author has embraced a positive tone on the economy despite the harsh economic conditions occasioned by the pandemic, which is an encouragement for Americans to hold on a little longer.
The topic impacts the whole society because it revolves around the economy’s progress and the pledges from presidential candidates that would transform public finance in America. Lifting the minimum wage would transform low-income earners’ lives because they would have a higher disposable income than before. The government will have to be equipped with sufficient resources to meet the same demands because Americans would want the government to be exemplary for the private sector to follow the same route. It also involves adjusting the government budget.
The short-term effect of the topic explored in the article is that it would dictate who will be president because Americans have different views regarding the two presidential candidates’ articulations. Also, the improvement explained in the article means that it can be sustained through consistent efforts and the idea of increased infection can influence stock markets positively or negatively based on how players interpret the data. Long term effects include strategic planning for the future of infectious diseases. It would involve investment in preventive frameworks to prevent such dwindling effects on the economy.
Reference
Marte, J. (2020, October 31). Days before the election, economic data reveals a gradual improvement, gloomy outlook. U.S. https://www.reuters.com/article/us-usa-election-economy/days-before-election-economic-data-reveals-gradual-improvement-gloomy-outlook-idUSKBN27F2PX