The United States is currently grappling with substantial economic challenges, particularly regarding affordability, which have intensified under recent administrations. Reports indicate that many Americans are struggling to meet basic living expenses, exacerbated by rising costs in housing, healthcare, and education. This affordability crisis disproportionately impacts low- and middle-income families, raising concerns about broader social equity and the well-being of vulnerable populations.

In 2023, President Joe Biden promoted his economic policies, termed "Bidenomics," claiming they had successfully guided the economy towards recovery from the pandemic. During a rally at the Philly Shipyard, he highlighted the creation of 13 million jobs and improvements in wage growth. However, public sentiment did not align with his optimistic portrayal, as many Americans expressed concern over the rising cost of living. Inflation surged following the pandemic, driven by increased demand and extensive stimulus measures, with the cost of goods rising approximately 17% since Biden took office.

Polls indicated that inflation and economic issues were top concerns for voters, and Biden's approval ratings regarding these matters were low. While he acknowledged some economic improvements, his messaging often downplayed the severity of the cost-of-living crisis. Critics noted that his assertion of the U.S. having the lowest inflation rate among major economies was met with skepticism from a public facing daily financial pressures.

Former President Donald Trump capitalized on Biden's perceived shortcomings, making affordability a central theme of his 2024 presidential campaign. He promised to reduce prices and restore economic stability, positioning himself as a viable alternative. However, Trump's economic policies, including high tariffs on imports, have also contributed to inflation, leading to a decline in public approval of his economic management.

In California, Governor Gavin Newsom faces scrutiny over the state's economic conditions as he positions himself for a potential presidential campaign. California has the highest gas prices, taxes, and electricity rates in the continental U.S., alongside substantial debt nearing $270 billion. The state's reliance on a small percentage of households for income tax revenue raises concerns about the exodus of affluent residents. Additionally, California has the largest number of homeless individuals and high poverty rates, with half of its population enrolled in Medi-Cal health insurance.

Despite its natural wealth, California's governance has faced criticism, particularly regarding its infrastructure and crime rates. As Newsom prepares for his presidential bid, the economic challenges facing California may complicate his campaign narrative. The political landscape in California is dominated by the Democratic Party, raising questions about the implications of one-party rule on governance and policy effectiveness.

As the political landscape evolves, the economic concerns of voters remain a critical factor in shaping future elections, with both parties needing to address pressing issues of inflation and affordability to resonate with the electorate.