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Morning Joe

>> the $3.11 may still seem high to people, but on an inflation-adjusted basis, it is at or below the average, really, since opec started doing its thing. food prices, which will also surprise people, were up 2.8% last year. even less than the overall inflation rate. >> as we move, steve, to your next chart, about this economy defying expectations, you talk to people who may even not be big fans of joe biden as we closed the year. the dow was up 37,000 from wall street's view, and for regular folks working, unemployment is down. what else are you looking at there? >> yeah, this was an economy and a stock market that surprised really all the experts. i don't think many predicted this. you'll see this the beginning of the year, economists were looking at a sliver of growth for the economy. some were predicting recession but not a lot of growth. what happened, and this includes the fourth quarter, which we'll get the actual number but we

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Morning Joe

have good estimates, 3% growth. a very solid, very, very solid performance to the economy. then look at unemployment. people thought, economists thought it'd edge up close to 5% as the federal reserve raised rates and forced the economy to slow down. in fact, it's just under 4%. it is still more or less where it has been for several years. if you look, tied to that is jobs growth, of course. consensus for the reasons i said, expecting a slower economy, thought we'd actually lose a few jobs per month. in fact, we gained almost 250,000 jobs a month through november. we'll get one more number on friday of this week. lastly, the s&p, willie, as you mentioned, nobody can predict the s&p. let's be honest about that for starters. we were looking at 5%, the strategists. instead, they got 25%. >> wow. >> for joe biden's re-election, let's just look ahead to what people think about 2024.

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Morning Joe

some numbers even lower, but in that range. lowest of any president since somewhere before carter, i don't know where. even people like carter and reagan, who we'll talk about in more detail in a second, were sitting at 54%. obama at 43%. trump at 45%. a very strange situation for the president given the numbers i just showed you. obviously, there's a war going on in gaza. you know, jimmy carter faced a hostage crisis already under way at this point in his re-election. he still sat at 54%. let's look at the economic statistics. why might biden's arrival rating be so low? not because of the economic performance. at 3.1%, it's a little higher than some of these presidents but kind of in line. look at jimmy carter, 13.3% inflation and 54% approval rating. if you look at unemployment, the 3.7% for biden that i mentioned, again, this is lower, trump was at 3.6%, but this is lower

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Way Too Early With Jonathan Lemire

well, if we look at our two most closely watched measures of consumer sentiment, consumer confidence, they both rose big time in december. one was up 10%, the other a whopping 14%. now, that's one month. that's not yet a trend. it certainly is suggestive that the measures this president is taking to help provide support release to families like the one he grew up in are working and people are starting to feel it. >> i forgot to mention he was a guest this morning, too. but here's our actual guest, jared wingrove. he's not wrong. the biden administration has been on a victory lap, saying economic analysts were wrong. but voters aren't feeling it. poll after poll, voters are anxious, and they're not giving biden credit for the economy. two-parter to you. does the white house feel they can turn that sentiment around,

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Morning Joe

Morning Joe
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Morning Joe

president again next november. >> even if it means electing a democrat? >> it is disappointing. i'm upset with the options. at the end of the day, i trust one person with our government and democracy than i do the other. i've never voted for a democrat in my life, but in this next election, i'd put policy aside and choose democracy. >> former trump white house aides speaking out on the dangers of a potential second trump term. the supreme court is poised to rule on one of the most consequential cases in american history. two states now have ruled former president trump is not eligible to hold the office of presidency. the colorado case has already been appealed. if the supreme court agrees to hear the case, "the new york times" writes, justices will act in the shadow of two competing political realizes. "the times" reports, they will be reluctant to wrest from

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Morning Joe

be doing more of to not only get the message out that democracy is on the line, but also of the accomplishments that they can draw from? >> i think the president has to educate more. in some ways, to turn the oval office into a classroom. the most effective president maybe in modern times was ronald reagan. going back to fdr, the fireside chats, what he did with those, mika, is he took a reluctant country that was, in many ways, quite isolationist, and he gradually moved it in a direction where american entry into world war ii became politically possible. obviously, it happened. even before our entry into the war with things like lend/lease, we were helping the allies in europe. but he educated. he explained. he did it regularly. i think the white house has to do more about that. one of the harsh lessons i've learned in recent years is we can't assume anything. we can't assume that people know

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Morning Joe

been steadfast on, making sure we give that relief to american context of the election, just to the perspective of job performance from the president, how do you explain the groups that have supported joe biden for so long, democrats for so long, now kind of looking around, actually, not just with young voters, too, not that they're looking at donald trump but they're looking at other choices, how do you explain them straying from the this president and the democratic party? >> again, i'm going to be super mindful of 2024 as we're into an election year. look, we understand what the american people went through these past three years. we came out of a pandemic, right, a pandemic we haven't seen in 100 years. when the president walked in, the economy was upside down. so we get it. we get that it is going to take a little bit of time for folks

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Morning Joe

that reaching more americans? well, if we look at our two most closely watched measures of consumer sentiment, consumer confidence, they both rose big time in december. one was up 10%, the other a whopping 14%. now, that's one month, that's not yet a trend, but it is certainly suggestive that the measures that this president is taking to help provide support relief to families like the one he grew up in are working and that people are starting to feel it. >> joining us now, white house press secretary, karine jean-pierre. great to have you on. >> happy new year, mika. thank you for having me. >> jumping off this interview with jared and the overall strategy on the economy, i'm just curious, is there more good news to come on the economy? i just think there are some who say it is perilous to label an economy, like bidenomics with the president's name, because this is something that could be

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Morning Joe

if you take this all together, they're basically looking for an economy that is still not in recession, not growing as fast as it was, unemployment ticks up a bit, job growth a bit slower, and the stock market, who knows, but they're predicting a small increase. as biden goes into his re-election, the consensus among economists is that we have achieved something that looks like a soft landing, a little slower growth, a little less job growth as a result for now, but not a big recession. a bit of a tailwind for joe biden as he goes into his re-election. >> which leads us to your third chart, steve, which is the "and yet." despite all the good economic news you presented, president biden remains historically unpopular. >> i think "and yet" is a great way to introduce any conversation about the president's approval rating relative to his economy. these are all the presidents since jimmy carter. you can see joe biden up here at 39%. we all know that.

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