Joe Biden defends handling of US economy as voters slam record: ‘Bidenomics is working!’ | Personal Finance | Finance newsbhunt


President Joe Biden has claimed “Bidenomics is working” as Republican lawmakers and the American public question his record on the economy.

“Bidenomics” is the term used to describe the current White House’s economic agenda which the President has claimed is about “growing the economy from the middle out”.

Among the legislation that is viewed as part of the “Bidenomics” agenda are the American Rescue Plan, the bipartisan infrastructure law, the Chips and Science Act, and the Inflation Reduction Act.

As it stands, it appears the US has narrowly avoided a recession and inflation eased to 3.2 percent last month following the Federal Reserve’s wave of interest rate hikes.

However, Republican legislators are hammering Biden for his handling of the economy with voters apparently less than enthusiastic about the state of the country, according to polls.

In an op-ed for The Washington Post, the 46th President of the United States defended his economic record in the face of scrutiny.

He shared: “Our plan—Bidenomics—is working. Because of the major laws and executive orders I’ve signed, my executive orders on racial equity and more—we’re advancing equity in everything we do making unprecedented investments in all of America, including for Black Americans.”

Specifically, President Biden touted his record for improving the finances and living standards of minority voters.

Joe Biden added: “More Black small businesses are starting up than we’ve seen in over 25 years More Black families have health insurance. We cut Black child poverty in half in my first year in office.

“We are delivering clean water and high-speed internet to homes across America. We’re taking on Big Pharma to reduce prescription drug costs, such as making the cost of insulin for seniors $35 a month.

“We’re taking the most significant action on climate ever, which is reducing pollution and creating jobs for Black Americans in the clean energy future.”

Ahead of the 2024 Election, the Democrats are promoting “Bidenomics” as a success to secure the President’s image as someone who is good at handling the economy.

However, recent polls have suggested that a plurality of voters are not in agreement with this position.

In an Associated Press-NORC Center for Public Affairs Research survey, 36 percent of Americans polled approve of Biden’s handling of the economy.

In comparison, only 42 percent supported his current performance as the country’s President.

Furthermore, the same poll reports that just over a third of survey respondents described the US economy as being somewhat or very good.

The same August poll found that only 34 percent of those surveyed would describe the economy as somewhat or very good.


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