Biden on the economy: Come at me, Bro!
Rather than cower in the corner and semi-endorse GOP talking points by trying to appeal to chicken livered centrists and other moderate dipshits, Biden is ready to fight.
In the afternoon, Biden will deliver an address on his economic plan which he has dubbed “Bidenomics.” The strategy involves growing the economy from the middle out and bottom up, instead of top-down.
The White House said Bidenomics will focus on “growing the middle class and empowering workers, investing in America and lowering costs.”
The Biden administration oversaw major job growth since the president took office, with over 13 million jobs created since the start of his term.
The president will also have a campaign reception in Chicago. Biden is seeking a second term in office and is one of three Democrats who have formally announced their intention to run in 2024, including attorney Robert F. Kennedy Jr. and writer Marianne Williamson.
It is going to take a lot of work to undo the damage to the Democratic Party caused by Bill Clinton’s embrace of Republican economic policies, but this is at least a start:
Trickle-down economics, which was at the heart of President Ronald Reagan’s policies and continues to be the guiding light of Republican lawmakers, typically revolves around tax cuts for the wealthy and large companies. Supporters say the benefits flow down to middle-class and working Americans, boosting economic growth more broadly. But many experts dispute this effectiveness of this practice at lifting all boats.
Biden argues that supply-side, trickle-down economics has cost jobs and hollowed out the middle class. He has long focused on that group of Americans, serving as chair of the Middle Class Task Force when he was vice president in the Obama administration.
Don’t know who you’re quoting, but what a load of both-sides bullshit. The two claims are treated as equally supported by data when they’re not. There is no such thing as trickle-down benefits. No data to support it anywhere. That’s why they never offer any. But the media keeps reporting what “Republicans believe” when what they believe is false.
Newspapers died because they deserved to.
I heartily urge all Democrats to tout the Biden economy. What’s not to like? Highest inflation in 40 years, mortgage rates rising at their fastest rates in 50 years, gas prices double what they when he entered office, food prices through the roof, stagnant stock market and 401Ks, and an incoming recession!
Basically nobody has done more than Biden to economically f*ck the middle class since Jimmy Carter.
Record low unemployment, record high job creation, 10 million small business applications filed, COVID under control, Dow Jones actually up from 24k to 34k in the five-year period… dreadful, I know.
According to the mainstream media, it all spells bad news for Biden.
Lol. Gas prices. You are very smart. Have a great day.
The crazy thing is that “Vote for Sleepy Joe’s” knee-jerk retort typically works!
The media along with the usual dipshit centrists reflexively give Republicans an edge on “the economy” based on fuck all other than lazy habit.
The economy is good by historical standards.
Prices aren’t supposed to stay the same. Modest inflation is the sign of an expanding economy. Prices staying the same is a sign the economy is headed for decline. And if prices start going down we are in even more trouble.
The Fed has targeted 2% as a healthy inflation rate. Some economists think that is too low. We are at 4.05% right now which is consistent with an economic expansion and is less than 1% above the historical average.
From Yahoo Finance: “US Inflation Rate is at 4.05%, compared to 4.93% last month and 8.58% last year. This is higher than the long term average of 3.28%.”
More good economy news.
Real hourly earnings – accounting for inflation – increased 1.3% over the last year, according to BLS:
“From May 2022 to May 2023, real average hourly earnings increased 1.3 percent, seasonally adjusted. The change in real average hourly earnings combined with a decrease of 0.9 percent in the average workweek resulted in a 0.3-percent increase in real average weekly earnings over this period. ”
At the same time hourly pay is increasing, employers are pulling back from the post pandemic hiring boom and reducing hours, for a net weekly earnings increase of 0.3%. Still a good economy.
I suspect Republicans will try to run on “buh..dah… Ec0n0MEE!!” again. Just a pavlovian conditioned response at this point.