In addition to their concerns about the future of democracy, American voters are focused on several contentious issues, including immigration, abortion, and the economy. President Joe Biden has maintained Donald Trump's pandemic-era border policies while promising a pathway to legalization for migrants. In contrast, Trump advocates for "sealing the border" and implementing what he claims would be "the largest deportation operation" in history. The U.S. Supreme Court's 2022 decision to overturn the landmark 1973 Roe v. Wade ruling, which guaranteed the right to abortion, has mobilized many voters. Democrats have pledged to restore this constitutional right if they can secure enough votes.
To broaden her appeal, Kamala Harris has shifted her stance on some of the more progressive policies she supported during the 2020 presidential campaign, such as a strict ban on fracking, a single-payer healthcare system, and the decriminalization of illegal immigrants.
While these issues are significant, numerous surveys indicate that American voters consider the economy to be the most pressing concern for the 2024 election. In mid-2022, inflation in the U.S. surged to 9.1 percent, the highest rate in 40 years. During this time, inflation was also rising globally, exacerbated by ongoing supply chain disruptions into 2023 and a housing affordability crisis affecting many Americans.
The U.S. comprises less than five percent of the world’s population yet contributes about a quarter of global GDP. It stands as the world’s largest national economy by market exchange rates, serves as the primary destination for foreign direct investment (FDI), and holds a significant share of global stock market capitalization. Therefore, developments in the U.S. economy have profound implications for the rest of the world.
A Pew Research survey conducted in mid-2023 revealed that inflation is the top concern for Republicans, with 77 percent citing it as a major issue. The Brookings Institution notes that despite low unemployment, steady economic growth, and a return to normal inflation levels, many Americans remain dissatisfied with the economy. This discontent will likely influence their voting decisions.
As the parties strategize for the upcoming election, it is essential to examine the economic plans of both Republicans and Democrats to understand the potential global impact of their policies.
