Abraham Lincoln once said, “Public opinion is everything,” acknowledging that what people think or feel is more important than actual facts. Applied to today’s politics, it is difficult to know what the economy will look like in 2024.

But the public will have its opinion – and as Bill Clinton famously said, “It’s the economy, stupid!”

Economic forecasters see the nation in a generally positive environment. Inflation is decreasing, wages are up, and we no longer fret over the price of a dozen eggs. Yet surveys indicate Utahns, like most Americans, are still struggling to “get by” on what they earn.

The answer is simple: Utah families have their own expectations. Prosperity used to be having a full dinner plate; today, it’s having a full garage! 

As an example, a friend of mine is one of the majority of Americans who worry about their bills. He lives in Davis County, is married with three children – a normal Utah family. He and his wife earn about $4,000 monthly after deducting taxes and church donations.

He recently tracked all of his monthly expenditures. Readers are invited to compare his monthly spending with their own.

His house payment is a relatively modest $900 per month. He pays about $420 is combined waste removal, gas, and electricity service. He estimates $600 monthly for gasoline for their two cars. Other costs include $40 for streaming services, $200 for children’s braces, $95 for auto insurance, $180 for children’s recreational team fees and activities, and $50 for life insurance. Additionally, he put $250 monthly to pay off existing credit card bills.

He uses his credit card to purchase daily items. In the month he tracked his spending, he bought $412 for groceries and other items (Barnes and Noble, Dollar Tree, Hobby Lobby, Amazon, etc.). None of the items were particularly expensive, the most $61 at a shoe store. However, he and his family averaged more than $20 per day at restaurants (mostly fast-food), accounting for a total of $655. The dining-out expense only included three evening (date nights) where he and his wife spent anywhere from $62 to $83.

He doesn’t think his spending is lavish or dramatically different from similar families with teenagers in Davis County. Yet his total expenses ($3,852) are near his total income. He figures things will ease when the teens leave the house. But in the meantime, he and his family are pressured at the thought of a major unexpected expense.

It’s all in one’s perspective. If you live in Somalia, you think Mr. Davis County is wealthy. Some would say he could trim his restaurant bill, but realistically even a 25% reduction wouldn’t relieve his anxiety of a major medical expense or a costly roof repair. Others will suggest he searches for a part-time second job. 

He and his wife will probably vote. How they feel about their financial situation will probably decide who resides in the White House in 2025.

Bryan Gray, a longtime Davis County resident, is a former school teacher and has been a columnist for more than 26 years in newspapers along the Wasatch Front.