I have stumbled across a document, Report on the Economic Well-Being of US Households, which was put out by the US Federal Reserve earlier this month. A couple of things seem worth noting.
First, it reports that 60% of adults report that they are either “living comfortably” or “doing okay,” compared to 65 percent in 2014 and 62 percent in 2013. As most of us are probably aware, there is a lot of evidence for the fact that election results (especially at the Presidential level) correlate strongly with how the economy is doing. Or, more accurately, which how voters feel that the economy, specifically their personal economic circumstances, is going.
When the economy is bad, there is a lot of "turn the rascals out" voting. When the economy is good, there is a strong tendency to not rock the boat. Only when the economy is just so-so do other factors appear to become significant. The implications for this year's elections, if the state of affairs reported by the Fed continues into November, are obvious.
Second, and something which really startled me, was that 10% of those making over $100,000 per year said that they were either “struggling to get by” or are “just getting by." Read that again. These aren't people down around the poverty line (however you choose to define that). These are people in the top 20% of incomes in this country. But they think that they are struggling?!?!? Sometimes I am just amazed at the world-views, the insularity of the world views, of some of those around me. (And I wonder how they think the rest of the country is doing -- assuming that they consider that at all.)