Voters Perception of Economic Conditions Matters

Voters See a Bad Economy, Even if They’re Doing OK
https://www.nytimes.com/2022/07/15/business/economy/inflation-economy-polling.html 

"Economists have long studied the role of consumer sentiment, which can be driven by media narratives and indicators unrepresentative of the broader economy, like certain grocery prices or shortages of particular goods. At least in theory, economic pessimism can become self-fulfilling, as consumers pull back their spending, leading to layoffs and, ultimately, to a recession".

People Have Money but Feel Glum—What Does That Mean for the Economy?
https://www.wsj.com/articles/people-have-money-but-feel-glumwhat-does-that-mean-for-economy-11657808195
 
CPI Doesn’t Capture the True Cost of Living in Trump Country
https://www.wsj.com/articles/cpi-doesnt-capture-true-cost-of-living-trump-country-healthcare-housing-rental-inflation-prices-11657898754

Expenses have risen much faster for low- and middle-income families in the counties he carried.

My take - Tampa Bay Economy - Summer 2022

https://www.ut.edu/uploadedFiles/Academics/Business/Economics/TBE%20Summer%202022.pdf