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    Trump’s Legal Jeopardy Hasn’t Hurt His G.O.P. Support, Times/Siena Poll Finds

    Donald J. Trump continues to march to the 2024 Republican presidential nomination with a commanding lead over his primary rivals, even as a strong majority of voters nationwide believe he has committed serious federal crimes, including a growing faction of Republicans, according to a new poll from The New York Times and Siena College.The results show the remarkable degree to which Republican voters are willing to look past Mr. Trump’s legal jeopardy — the former president has been indicted four times in 2023 and faces 91 felony counts — and line up behind his potential return to power.Overall, 58 percent of voters nationwide believe Mr. Trump committed serious federal crimes, according to the survey, including 66 percent of independent voters.Yet Mr. Trump continues to clobber his closest Republican competitors in the primary by more than 50 percentage points, pulling in the support of 64 percent of Republican primary voters nationwide. Nikki Haley, the former United Nations ambassador, is now in a distant second place, with 11 percent, followed by Gov. Ron DeSantis of Florida, who has fallen to third, with 9 percent.The poll was conducted before a court ruling on Tuesday injected more legal uncertainty into the 2024 presidential race. The Colorado Supreme Court ruled that Mr. Trump is disqualified from holding office again because he engaged in insurrection leading up to the Jan. 6 storming of the Capitol, a decision the former president plans to appeal to the U.S. Supreme Court. More

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    Biden’s Rating Dips on Gaza, and Marvel Drops Actor

    The New York Times Audio app is home to journalism and storytelling, and provides news, depth and serendipity. If you haven’t already, download it here — available to Times news subscribers on iOS — and sign up for our weekly newsletter.The Headlines brings you the biggest stories of the day from the Times journalists who are covering them, all in about five minutes.President Biden during a broadcast from the Oval Office after visiting Israel in October, following the breakout of the war against Hamas.Tom Brenner for The New York TimesOn Today’s Episode:Poll Finds Wide Disapproval of Biden on Gaza, by Jonathan Weisman, Ruth Igielnik and Alyce McFaddenCompanies divert ships from Red Sea route, by Andrés R. MartínezAbbott Signs Law Allowing Texas to Arrest Migrants, Setting Up Federal Showdown, by J. David GoodmanMarvel Will Part Ways With Jonathan Majors After Guilty Verdict, by Jonah Bromwich, Erin Nolan and Nicole SperlingAfter Weeks of Warnings, Iceland Volcano Erupts in Plumes of Fire, by Egill Bjarnason and Claire MosesJessica Metzger and More

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    How Much Is Biden’s Support of Israel Hurting Him With Young Voters?

    Donald Trump leads him among those 18 to 29, a new poll shows.Palestine supporters in Washington on Sunday.Tasos Katopodis/Getty ImagesAs recently as this summer, a poll with Donald J. Trump leading among young voters would have been eye-popping.Now, it’s increasingly familiar — and our new New York Times/Siena College national survey released Tuesday morning is no exception.For the first time, Mr. Trump leads President Biden among young voters in a Times/Siena national survey, 49 percent to 43 percent. It’s enough to give him a narrow 46-44 lead among registered voters overall.Usually, it’s not worth dwelling too much on a subsample from a single poll, but this basic story about young voters is present in nearly every major survey at this point. Our own battleground state surveys in the fall showed something similar, with Mr. Biden ahead by a single point among those 18 to 29. Either figure is a big shift from Mr. Biden’s 21-point lead in our final poll before the midterms or his 10-point lead in our last national poll in July.And there’s a plausible explanation for the shift in recent months: Israel.As my colleagues Jonathan Weisman, Ruth Igielnik and Alyce McFadden report, young voters in the survey took an extraordinarily negative view of Israel’s recent conduct: They overwhelming say Israel isn’t doing enough to prevent civilian casualties in Gaza, believe Israel isn’t interested in peace, and think Israel should stop its military campaign, even if it means Hamas isn’t eliminated.You might think that the young voters with these progressive or even left-wing views would be among the most likely to stick with Mr. Biden. At least for now, that’s not the case. The young Biden ’20 voters with anti-Israel views are the likeliest to report switching to Mr. Trump.Overall, Mr. Trump is winning 21 percent of young Biden ’20 voters who sympathize more with Palestinians than Israel, while winning 12 percent of other young Biden ’20 voters. In an even more striking sign of defections among his own supporters, Mr. Biden holds just a 64-24 lead among the young Biden ’20 voters who say Israel is intentionally killing civilians, compared with an 84-8 lead among the Biden ’20 voters who don’t think Israel is intentionally killing civilians.It’s possible that the kinds of young voters opposed to Israel already opposed Mr. Biden back before the war. That can’t be ruled out. But it’s still evidence that opposition to the war itself is probably contributing to Mr. Biden’s unusual weakness among young voters.Here are a few other findings from the poll:Biden ahead among likely voters?Even though he trails among registered voters, Mr. Biden actually leads Mr. Trump in our first measure of the 2024 likely electorate, 47 percent to 45 percent.If you’re a close reader of this newsletter, this might not come completely out of nowhere. Our polls have consistently shown Mr. Biden doing better among highly regular and engaged voters — especially those who voted in the last midterm election. In those polls, the most heavily Republican voters have been those who voted in 2020, but not 2022. It helps explain why Democrats keep doing so well in low-turnout special elections even though they struggle in polls of registered voters or adults.But in this particular poll, the split isn’t just between midterm and non-midterm voters. It’s between people who voted in the 2020 general election and those who didn’t. Mr. Biden leads by six points among voters who participated in the 2020 election, while Mr. Trump holds an overwhelming 22-point lead among those who did not vote in 2020. In our estimation, needless to say, 2020 nonvoters are less likely to vote in 2024, and that’s why we show Mr. Biden ahead among likely voters.It’s an intriguing pattern, but there’s good reason for caution here.For one: Our previous polling hasn’t shown anything this extreme, including our battleground polling conducted eight weeks ago. That doesn’t mean it’s wrong, but our sample of 2020 nonvoters includes only 296 respondents — a sample that’s too small for any serious conclusions.For another: The people who voted in 2020 reported backing Mr. Biden over Mr. Trump by 10 points in the 2020 election, 51 percent to 41 percent. In reality, Mr. Biden won by 4.5 points.Now, there’s a good reason respondents might have been less likely to report backing Mr. Trump in our poll: We concluded the substantive portion of the survey with a series of questions about Mr. Trump’s coming legal battles, including whether he committed crimes, whether he’ll be convicted, whether he should go to jail and so on. Then, at the very end of the survey, we asked them how they voted in 2020.It’s possible these questions about Mr. Trump’s legal problems made his supporters less likely to admit supporting him in the 2020 election. Indeed, registered Republicans with a record of voting in 2020 were three times as likely as Democrats to refuse to tell us whom they supported in the last presidential election. But it’s also possible that our sample really does just contain too many Biden ’20 voters with respect to nonvoters, yielding a lopsided shift in his direction among likely voters.The underlying data still looks mostly normal.Every time I see what looks like a crazy result — such as Mr. Trump leading among young voters or a nearly 30-point gap between 2020 voters and nonvoters — I think that I’m going to peer deeper into the data and see the signs that something is off.I haven’t seen it yet.In fact, this survey has a more Democratic sample of young people by party registration than in the past, but a much more Trump-friendly result.A similar story holds for the 2020 nonvoters. They may back Mr. Trump by a wide margin, but 27 percent are registered as Democrats compared with 17 percent as Republicans. Mr. Trump nonetheless leads among them because Mr. Biden has only a 49-34 lead among registered Democrats who didn’t turn out in the 2020 election. He has an 83-8 lead among registered Democrats who did vote.A mere 49-34 lead for Mr. Biden among Democratic nonvoters sounds pretty far-fetched, but it’s at least easy to imagine why these kinds of Democrats might be less likely to support Mr. Biden. If you’re a Democrat who didn’t vote in 2020, you probably aren’t as vigorously and passionately opposed to Mr. Trump as those who did show up. Nonvoters also tend to be young, nonwhite, less educated and have low incomes — all groups Mr. Biden has struggled with. They also tend to be less partisan and less ideological, and therefore may be less loyal to the party.But for now, it’s just one relatively small data point. And curiously, it’s a data point we might never get a chance to validate. Nonvoters don’t vote, after all. In all likelihood, people with a robust track record of voting will play an outsize role in the election, and at least in this poll, that’s good news for Mr. Biden. More

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    Poll Finds Wide Disapproval of Biden on Gaza, and Little Room to Shift Gears

    Voters broadly disapprove of the way President Biden is handling the bloody strife between Israelis and Palestinians, a New York Times/Siena College poll has found, with younger Americans far more critical than older voters of both Israel’s conduct and of the administration’s response to the war in Gaza.Voters are also sending decidedly mixed signals about the direction U.S. policy-making should take as the war in Gaza grinds into its third month, with Israelis still reeling from the Oct. 7 terrorist attack, thousands of Palestinian deaths in Gaza and the Biden administration trying to pressure Israel to scale back its military campaign. Nearly as many Americans want Israel to continue its military campaign as want it to stop now to avoid further civilian casualties.That split appears to leave the president with few politically palatable options.The findings of the Times/Siena poll hold portents not only for Mr. Biden as he enters the 2024 re-election year but also for long-term relations between the Jewish state and its most powerful benefactor, the United States.The fractured views on the conflict among traditionally Democratic voter groups show the continued difficulty Mr. Biden faces of holding together the coalition he built in 2020 — a challenge that is likely to persist even as economic indicators grow more positive and legal troubles swirl around his expected opponent, former President Donald J. Trump.Overall, registered voters say they favor Mr. Trump over Mr. Biden in next year’s presidential election by two percentage points, 46 percent to 44 percent. The president’s job approval rating has slid to 37 percent, down two points from July.But there is considerable uncertainty over whether disaffected voters will even vote. While it is still early, the race is flipped among the likely electorate, with Mr. Biden leading by two percentage points.Economic concerns remain paramount, with 34 percent of registered voters listing economic- or inflation-related concerns as the top issue facing the country. That’s down from 45 percent in October 2022, but still high. More

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    There Wasn’t Much to Love About 2023

    Bret Stephens: Hi, Gail. This is our last conversation for the year, so let me first wish you and Dan a Merry Christmas.Gail: Thanks, Bret. And the best of course to you and Corinna and your kids.Bret: As much as I’ve loved our exchanges, I can’t say I’ve loved the year. From Donald Trump’s political resurrection, to Congress failing to come together to help Ukraine, to America’s premier university presidents being unable to say that calling for the genocide of Jews violates campus policies, to this latest ludicrous impeachment inquiry, to the clown show that made Kevin McCarthy speaker of the House and then the clown show that brought him down, to Vivek Ramaswamy merely opening his mouth, it feels like the year in which America slipped into terminal decline.Gail Collins: Hey, let’s go for something a little less drastic. I admit any year in which all the most positive stories seemed to involve Taylor Swift wasn’t exactly great for politics. But looking back I see some bright spots.Bret: I’m all ears.Gail: Even though people can’t wrap their heads around it, the economy’s really improved. Lots of jobs available. The unemployment rate is, gee, nearly the lowest since I was in grad school. Biden’s battle against global warming has been showing signs of progress. Electric car sales, for example, are up. Solar is energy booming.Bret: Much of it lining the pockets of Elon Musk, 2023’s third-biggest blowhard.Gail: Representative George Santos is gone — so deeply gone he’s joined Rudy Giuliani in the world of cameo video sales. And while it’s hard for America to find issues on which a strong majority can get together, I’ll bet one is the conviction that Vivek Ramaswamy is the most irritating presidential candidate in recent world history.Bret: Your point about the remarkable resilience of the American economy is a good one, and maybe it will even help Joe Biden politically as inflation finally cools off and interest rates start to fall. He’ll need that, since right now more than 60 percent of Americans disapprove of his handling of the economy.Biden might just get another political assist if the Supreme Court, in its supreme unwisdom, fails to overturn a lower court decision to sharply restrict the distribution of abortion pills, which will almost surely energize a lot of independent voters to stick with him. There’s a bitter sort of irony in thinking that the only thing that might save abortion rights in America for the long term is their restriction in the short term.Gail: The struggle over abortion rights is one of the most fascinating political stories of our era. It seems to be getting a very strong, very positive response from a wide swath of the public. Not just limited to liberals or Democrats.Bret: Even conservatives like me shudder to think of what happens in this country if we turn the clock back 60 years on reproductive rights.Gail: The most recent controversies are going to bring even more voters into the abortion-rights camp. We had the story of the Texas Supreme Court blocking an abortion for a young woman who wanted to have a baby, then learned the fetus she was carrying would almost certainly not survive — and that following through with the delivery might make it impossible for her to have children in the future. Hard to get a more sympathetic saga.Bret: Remarkable how people who claim to believe in the sanctity of life are willing to wreck lives to get what they want.Gail: And the abortion pills work so early in a pregnancy … opposition is pretty much limited to people with a religious conviction against ending pregnancy at all.I’m very sure a majority of the Supreme Court justices don’t want to have to deal with this issue. They’re conservative, but not totally crazy.Bret: Very sure? I can see John Roberts, the chief justice, and Neil Gorsuch, the most libertarian of the justices, joining the three liberals in overturning the appeals court. But it’s going to be uncomfortably close.Gail: Fingers crossed.Bret: Returning to my preferred tale of woe, Gail, homelessness in America just rose to its highest recorded rate. Levels of illegal immigration continued to rise this year to stratospheric levels, despite Biden’s repeated promises to get the border under control. Both problems contribute to a palpable sense that things are not under control. And I don’t quite understand why Democrats don’t want to move more aggressively on these fronts, since they are big liabilities for the party.You’re in charge of the Dems: What’s up with that?Gail: Hmmph. I clearly remember recently that when something strange was going on in the House, I mentioned that you were in charge of Republicans and you protested. So don’t stick all the Democrats on me.Bret: Turnabout is fair play!Gail: OK, we’re talking about two issues here. I blame much of the housing crisis on suburban zoning laws that make it hard to build a lot of affordable homes for working families. Not that it’s all that easy to get large apartment complexes for the non-rich built in cities, either.To really tackle housing on a national scale, we’d need new programs coming from Congress, where the Republican House majority is hard pressed to work efficiently enough to brew coffee.Bret: The question isn’t whether House Republicans can brew coffee, Gail. It’s about what the president knew about Hunter’s coffee brewing — and when he knew it.Gail: Oh please, let’s skip the nonissue of Hunter Biden today.Bret: About the coffee: I was kidding. About housing: I don’t pretend to be an expert, but my impression is that the homelessness crisis has a lot to do with the opioid, meth and mental-health crises. I’m all for easing zoning laws, but I doubt we’ll make much headway until we find a way to address our catastrophic drug and mental-health problems, which often reinforce each other. Reversing misbegotten efforts to decriminalize hard drugs in places like Oregon, as well as a terrible Ninth Circuit ruling that made it difficult for cities to enforce ordinances against public camping, would do some good.Gail: Too bad we’re not doing the negotiations. I can envision possible trade-offs.The border is definitely a huge problem, but the Republicans are just using it as an excuse not to do anything the Biden administration proposes on any issue. While there have been some modest administration reforms, really getting the border situation under control requires bipartisan agreement that these House Republicans will never, ever allow.Bret: I’ve always been in favor of comprehensive and liberal immigration reform, but we didn’t have this scale of crisis when any of Biden’s recent predecessors were in office. The problem started when the administration came to office determined to be the un-Trump — and doing so at precisely the moment when much of Latin America was falling apart. Biden then spent two years in denial about the crisis until Democratic mayors in cities like New York and the governor of Massachusetts started crying foul. And the solution, I’m afraid, is to effectively militarize the border until would-be migrants get the message that the only way into the United States is through legal channels.Gail: Have a feeling we’ll be arguing about this throughout 2024. Meantime, give me some thoughts on Republican presidential politics. (Not that you’re in charge of the Republicans or anything.)Bret: If only!Gail: Next time we converse, the Iowa Republican caucus will be right around the corner, followed by the New Hampshire primary.The only candidate who seems to have a sliver of a chance of embarrassing Trump is Nikki Haley. She’s been picking up steam in New Hampshire and some people think she might actually be able to win there if Chris Christie dropped out of the race. Think you could talk him into it?Bret: Well, hope springs eternal — or at least until Super Tuesday. If Christie dropped out of the race tomorrow and threw his political weight behind Haley, she might have a chance of edging out Ron DeSantis for second place in Iowa, behind Trump, which would at least give her a symbolic victory. Ditto for New Hampshire, where the combined Haley-Christie vote, according to polls, stands at about 32 percent compared with Trump’s 44 — almost a contest! But the biggest problem Haley faces is that while she would probably trounce Biden in a general election, it now looks like Trump will win, too, which defeats the argument among Republicans that the 45th president is unelectable as the 47th.Gail: Awful but electable, the Donald Trump story.Bret: In short, the only thing that can turn things around for Republicans is Biden stepping down. Which, as you’ve correctly been telling me these past months, ain’t likely to happen. How very, very depressing.Gail: Yeah, we’ve been wishing for ages that Biden would make the smart, generous move and announce he’s not running for re-election. Now, with the primaries right around the corner, it’s almost too late for him to change his mind anyway. Sigh.Bret: Gnash teeth. Beat breast. Wail.Gail: Well, the one thing I think we can count on is a non-boring new year. It’s true the Republican presidential primaries could be really dreary, but I refuse to believe that a man who’s under indictment for a jillion different offenses is just going to coast to victory.And we’ll have lots of House and Senate races to argue about. For instance, did you see that in Arizona — no, I’m gonna stop and hold that thought for the new year. This one’s been hard enough.Bret, one of my favorite things is waiting, every week, for you to end the conversation with some great piece of prose or poetry. Let’s have one more for the holidays.Bret: Well, the most delightful piece of prose that I’ve read in The Times in the last few days is Jonathan Kandell’s obituary for Sanche Charles Armand Gabriel de Gramont, better known in this country as the journalist Ted Morgan (an anagram for “de Gramont”). The son of a French aristocrat, Morgan chose to become an American, led a life of adventure as a soldier and journalist, and even won a Pulitzer Prize for local reporting when he covered the death of the opera baritone Leonard Warren, who died at the Met in 1960 while singing Verdi’s aria “Urna fatale del mio destino” — “the fatal urn of my destiny.”“There was an awesome moment as the singer fell,” Morgan reported. “The rest of the cast remained paralyzed. Finally someone in the capacity audience called out, ‘For God’s sake, bring down the curtain!’”And that’s my wish, Gail, for 2023.The Times is committed to publishing a diversity of letters to the editor. We’d like to hear what you think about this or any of our articles. Here are some tips. And here’s our email: letters@nytimes.com.Follow the New York Times Opinion section on Facebook, Instagram, TikTok, X and Threads. More

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    The Secret to Trump’s Success Isn’t Authoritarianism

    If the presidential election were held today, Donald Trump could very well win it. Polling from several organizations shows him gaining ground on Joe Biden, winning five of six swing states and drawing the support of about 20 percent of Black and roughly 40 percent of Hispanic voters in those states.For some liberal observers, Mr. Trump’s resilience confirms that many Americans aren’t wedded to democracy and are tempted by extreme ideologies. Hillary Clinton has described Mr. Trump as a “threat” to democracy, and Mr. Biden has called him “one of the most racist presidents we’ve had in modern history.”In a different spirit, some on the right also take Mr. Trump’s success as a sign that Americans are open to more radical forms of politics. After Mr. Trump’s win in 2016, the Russian philosopher Aleksandr Dugin crowed that the American people had “started the revolution” against political liberalism itself. Richard Spencer declared himself and his fellow white nationalists “the new Trumpian vanguard.”But both sides consistently misread Mr. Trump’s success. He isn’t edging ahead of Mr. Biden in swing states because Americans are eager to submit to authoritarianism, and he isn’t attracting the backing of significant numbers of Black and Hispanic voters because they support white supremacy. His success is not a sign that America is prepared to embrace the ideas of the extreme right. Mr. Trump enjoys enduring support because he is perceived by many voters — often with good reason — as a pragmatic if unpredictable kind of moderate.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More

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    Chris Christie Rebukes Rivals Not Named Trump in First TV Ad

    Mr. Christie, attacking higher-polling opponents Ron DeSantis and Nikki Haley, accused them of spending too much time attacking each other.Former Gov. Chris Christie of New Jersey turned his fire on Friday from former President Donald J. Trump, his usual subject of attack, to his higher-polling Republican rivals for the nomination.Mr. Christie’s campaign released its first television advertisement of the campaign cycle, which blasted Gov. Ron DeSantis of Florida and Nikki Haley, the former governor of South Carolina, for targeting each other instead of the former president, whom they all trail by a wide margin.“Chris Christie is the only one who can beat Trump because he’s the only one trying to beat Trump,” the narrator in Mr. Christie’s 30-second spot says.The six-figure ad buy, first reported by Axios, is airing in New Hampshire on local broadcasts and on national outlets including CNN, CNBC and MSNBC’s “Morning Joe.”It comes as Mr. Christie tries to boost himself before the Jan. 23 primary in New Hampshire, where he is in third place behind Mr. Trump and Ms. Haley. He has bet that a strong showing in the Granite State, forgoing Iowa’s first-in-the-nation caucuses, will keep his campaign afloat in future contests.The ad cited polls that showed Ms. Haley and Mr. DeSantis behind Mr. Trump by double digits.“Nikki Haley, down by 26 in her home state to Trump, attacks DeSantis,” a voice-over says, citing an ad from the super PAC supporting Ms. Haley that called him “too lame to lead, too weak to win.” The ad then pivots to Mr. DeSantis: “DeSantis, down 32 to Trump in Iowa, attacks Nikki Haley,” the narrator says, airing a clip from Mr. DeSantis’s super PAC that said “you can’t trust Tricky Nikki.”“There’s only one candidate trying to stop Trump,” the ad says, before airing footage of Mr. Christie bashing Mr. Trump on the debate stage.The Times reported last month that Ms. Haley’s super PAC had spent $3.5 million on ads attacking Mr. DeSantis but none specifically attacking Mr. Trump. (On Friday, Ms. Haley called on the former president to participate in the Iowa debate, saying, “It’s getting harder for Donald Trump to hide.”)While Mr. DeSantis has attacked Mr. Trump’s record more in recent weeks, his super PAC, Never Back Down, spent 10 times more on efforts to criticize Ms. Haley than Mr. Trump.Mr. Christie trails Mr. Trump by more than 50 points in national polls, with his support hovering in the low single digits.He has spent the fewest days campaigning of the remaining Republican Party candidates, an analysis from The New York Times showed. The campaigns and super PACs supporting Mr. DeSantis, Ms. Haley and Mr. Trump have far outspent him. More

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    Vibes, the Economy and the Election

    Recent positive news may put two theories on economic disenchantment to the test.The New York Stock Exchange on Thursday. Stocks have boomed in recent days.Angela Weiss/Agence France-Presse — Getty ImagesA Federal Reserve announcement about the future of the funds rate is not the sort of news that would typically factor into analysis of public opinion and the economy. Usually, analysts look at numbers like gross domestic product and unemployment, not something as arcane as a federal funds rate.But this isn’t a normal economy, and public opinion about the economy hasn’t been normal, either.For two years, the public has said the economy is doing poorly, even though it appears healthy by many traditional measures. This has prompted a fierce debate over whether the public’s views are mostly driven by concrete economic factors like high prices or something noneconomic — like a bad “vibe” brought on by social media memes or Fox News.The Fed’s projection Wednesday that it will cut rates three times over the next year probably won’t generate TikTok memes, but it’s exactly the kind of event that may ultimately resolve this debate one way or another — with important and potentially decisive consequences for the 2024 presidential election.To cut right to the heart of the problem underlying this debate: High prices do not seem to fully explain why voters are this upset about the economy.Yes, voters are upset about high prices, and prices are indeed high. This easily and even completely explains why voters think this economy is mediocre: In the era of consumer sentiment data, inflation has never risen so high without pushing consumer sentiment below average and usually well below average. This part is not complicated.But it’s harder to argue that voters should believe the economy is outright terrible, even after accounting for inflation. Back in early 2022, I estimated that consumer confidence was running at least 10 to 15 percentage points worse than one would expect historically, after accounting for prices and real disposable income.I could run through the numbers, but just consider this instead: The low point for consumer sentiment in 2022 wasn’t just low; it was a record low for the index dating all the way to 1952. That’s right: Consumer sentiment in 2022 was worse than it was in the 1970s, when higher inflation was sustained for much longer, and worse than it was in the depths of the Great Recession.Now, other gauges of consumer confidence don’t show things quite so bad, but even the rosier measures show Americans about as down on the economy as they were 15 years ago, when mass layoffs drove a doubling of the unemployment rate to 10 percent and when household net worth fell $11.5 trillion. You don’t need fancy math to see there’s something left to be explained.The two sides of this debate disagree about why, exactly, the public is so sour on the economy.The Fed chairman, Jerome Powell, on Wednesday.Brendan Smialowski/Agence France-Presse — Getty ImagesThe case for vibesOne side argues that public opinion about the economy is now being driven by noneconomic factors, and in particular vibes, or a prevailing mood that colors our perception of reality. In this view, the vibe today is so biting and dour that public opinion is no longer responsive to material economic reality: The “vibe” is bad, so voters can’t see that the economy is good.Strictly speaking, there’s no reason vibes can’t be grounded in tangible economic conditions — like stimulus checks going away — but in practice this winds up being an argument for how noneconomic factors prevent voters from appreciating the economy. Those factors could include conservative media, cynical social media, the mental health crisis, a pandemic hangover, President Biden or really anything else that might dampen the economic spirit of Americans.There might well be something to the vibes argument. There might even be a lot to it. But there’s just not much evidence to support it. This side fundamentally rests its case on a diagnosis of exclusion: If we don’t buy the economic argument, then it must be noneconomic — and if it’s noneconomic, it can really be anything. The power of vibes here is naturally indeterminate, and allowing limitless explanatory power to a theory without evidence should give any serious thinker some pause.If this side of the debate is right, the consequences for Mr. Biden are pretty bleak. In this view, the economy ought to be helping him, but instead it will presumably be a major drag. An 81-year-old white male moderate may be the worst possible Democrat to turn around the vibe on TikTok.The case for the economy explaining allThe other side of the debate argues that the explanation is fundamentally economic, but that the factors dragging down consumers aren’t neatly captured by the usual economic statistics.There are two kinds of adverse economic factors that this side of the debate has in mind. One is economic dysfunction — some basic things have become harder. It’s harder to hire. It’s harder to get a loan. It’s more expensive to buy things. At times it was impossible to buy things because of supply chain shortages. It’s harder to buy a home. It’s harder to sell a home. If you wanted to engage in these kinds of economic activities, you should have done them before the fall of 2021.It’s easy to see how these challenges could affect economic perceptions, and these problems can be missed by economic statistics. The usual data measures the extent of economic activity, not its ease. That people still have the resources to spend, hire and buy doesn’t change that voters may rationally conclude the economy is bad if it makes it harder for them to undertake economic activity.The other kind of adverse economic factor is the pessimism about future growth. A statistic like unemployment says a lot about the economy today, but little about the economy tomorrow. Expectations of future growth are an important component of consumer confidence indexes, and for good reason: The desire to turn money into more money is foundational to American capitalist culture. Here again, there have been reasons to anticipate limited economic growth or even a recession. Investors have expected it, as evidenced by the yield curve. There was even a reasonable assumption that the Fed would be so focused on slowing inflation by keeping interest rates high that a recession would be all but inevitable.In contrast to the “vibes” theory, there’s a lot of evidence for these various phenomena. They also fit into the framework of consumer confidence as a function of concrete economic conditions.But whether these nontraditional economic problems add up to explain what’s going on is much harder to say. They might explain a lot and might even explain all of it, but it’s impossible to prove empirically without any precedent for today’s economy in the era of modern consumer confidence data. There has simply never been a time when unemployment has stayed so low and prices have gone up so much, let alone with all of these additional twists like supply chain shortages and expectations of recession.What can be said is that the theory of concrete economic problems will be put to the test as soon as economic reality improves, and that time might finally be at hand.Many states now have gas prices below $3 a gallon.Adam Davis/EPA, via ShutterstockThe economy appears to be improvingAfter a few months of stubborn inflation, rising gas prices and interest rates, and a falling stock market, the last month or so has brought excellent economic news. The stock market has gone up nearly 15 percent since New York Times/Siena College polls were in the field in late October. The inflation trajectory looks good. Mortgage rates are falling. Gas prices are down. Once-skeptical economists have declared that a “soft landing” seems at hand. And now the Fed is forecasting rate cuts, which augurs growth, confidence in lower inflation and eventually a return to a more normal economy.Put it together, and the big economic barriers could be poised to fade. If they do and the material economic side of the debate is correct, consumer confidence might quickly begin to recover. And Mr. Biden’s re-election chances would begin to improve, at least to the extent that the economy and not another issue, like his age, is responsible for Donald J. Trump’s lead in the polls.While it’s too early to say, there are certainly signs that consumer confidence could rise. For one, it has already been doing so. Overall, consumer confidence is up nearly 20 points since inflation peaked in the summer of 2022. That rate of improvement is in line with prior, vigorous periods of economic expansion, like during the 1990s. The monthly pattern in consumer confidence even seems to align with the news: Last month’s strong economic data corresponded with a rebound in consumer confidence that erased the declines of the past four months, when the economic news was worse than over the summer.That’s what we would expect if real economic factors were driving consumer confidence, though it’s not enough to disprove the vibe theory. To send the vibe argument away, we would need to start to see the gap closing between expected and actual consumer confidence. If fears of a recession fade and a more normal economic environment returns, there might still be enough time for that gap to close before Mr. Biden stands for re-election. More