Story of the Week •
December 28th, 2023
What Does 2024 Have in Store?
Jeffrey Greenberg/Universal Images Group via Getty Images / Getty Images
2023 was a busy year, marked by technological advancement, global conflict, economic uncertainty, and political polarization. All this lays the groundwork for what is sure to be a hectic and challenging 2024.
As the new year approaches, voices across the spectrum are predicting what 2024 has in store for the economy, the world, and the political system.
In 2023, prices continued to rise, banks failed, and interest rates climbed. Despite these struggles, the economy did not slip into recession. Will 2024 be better, worse, or more of the same?
Newsweek (Center bias) covered a report from the Congressional Budget Office predicting that millions of Americans will lose their jobs in 2024 as the GDP contracts. According to Newsweek, the CBO expects "weaker consumer spending into next year, as well as a contraction in nonresidential investment, which will cause deceleration in the economy, with real GDP growth slowing down from 2.5 percent this year to 1.5 percent in 2024."
A writer in Vox (Left bias) tossed out a "wild idea" that the economy could do well in 2024, writing, "Inflation is on track to continue to cool. That doesn’t mean prices will go back to where they were in 2019, though they may decline in some areas. If the labor market stays robust, wages should keep rising, too, and at a pace faster than inflation."
In 2023, wars raged, old conflicts were rekindled, and tensions and temperatures rose. What can Americans expect outside their borders and above their heads in the new year?
Looking at the geopolitical state of the world heading into 2024, a writer in the Washington Times (Lean Right Bias) determined America's top priority should be to "restore deterrence," arguing for "not just maintaining our military and economic powers but increasing them to the point where our adversaries cannot hope to match them. Our adversaries must also be convinced that — if they push us — we will use our capabilities to inflict terrible pain."
An article in Axios (Lean Left bias) indicated that global temperatures in 2024 could support claims that "global warming is accelerating." Quoting climate scientists and forecasters predicting a record-breaking year of heat, the article determines, "2024 may be even hotter than the 'gobsmackingly' hot 2023, which featured extreme — and often deadly — weather and climate events around the globe."
In 2024, Americans will select the next President of the United States. After the highly contentious and polarizing 2020 election, voices across the spectrum are already predicting a taxing year for the American political system.
In Fox News Opinion (Right bias), a writer from the Heritage Foundation (Lean Right bias) asked if elections would be "secure and honest" in 2024. Noting election reform initiatives across the country, the writer determined that "opponents of common-sense election integrity reforms will continue to file lawsuits attacking positive changes, and we will, undoubtedly, get court decisions on their viability throughout the year, right up until the election."
A writer in CNN Opinion (Left bias) said the world "stands near a precipice" to be determined by the outcome of the 2024 election, arguing, "the election will determine whether Trump’s chaotic presidency with its authoritarian traits was only a fluke of US history, or whether it is the Joe Biden presidency that amounts to no more than a four-year pause in America’s descent into authoritarian isolationism."
2024 will undoubtedly feature no shortage of newsworthy moments, partisan divides, and instances of media bias. Through it all, AllSides will work to make sure you get the full picture.
More from AllSides
- Opinion from the Center: "That principle – that voters should decide elections rather than judges – is unassailable."
- 2024 Voter Guides: Here's where the presidential candidates stand on immigration, abortion, and healthcare.
More from the Right
2023 Was a Wash. 2024 Could Be Historic
Wall Street Journal (opinion)
"Let’s gaze into the 2024 crystal ball. The Ukraine war remains stalemated, though F-16s shift the balance some. Europe increases its defense budgets and Ukraine aid. Congress approves Ukraine and Israel aid and passes border legislation. Border crossings are lower at year’s end. The Israel-Hamas war continues well into 2024, with the Israel Defense Forces occupying much of Gaza and no Palestinian government there."
More from the Center
With hopes of victory fading, Ukraine’s war against Russia could get even harder in 2024
CNBC
"Away from the battlefield, military experts said that the trajectory the Russia-Ukraine war takes in 2024 will mostly be dictated thousands of miles away in the U.S., Ukraine’s largest military supporter, and whether aid declines in the run-up — and following — the U.S. presidential election."
More from the Left
Housing, inflation, interest rates and more: What to expect in the 2024 economy
NBC News
"A slowdown — but no recession. That's the broad consensus for the economy among experts as we head into 2024. After a post-pandemic period that saw growth surpass most forecasts — but also spurred breakneck inflation — Americans should now expect a period of reduced business activity."
