R) Former President Donald Trump attends the UFC 295 event at Madison Square Garden in New York City on Nov. 11, 2023. (Sarah Stier/Getty Images); (L) U.S. President Joe Biden delivers remarks at a news conference at the Filoli Estate in Woodside, Calif., on Nov. 15, 2023. (Kent Nishimura/Getty Images)
Published November 20, 2023
The president has made ‘Bidenomics’ a central message in his re-election campaign, despite mounting evidence that it has not resulted in relief for Americans.
President Joe Biden’s re-election campaign has tried to build enthusiasm across the country on his economic record and the success of “Bidenomics,” but voters on both sides of the aisle are confounded, saying they haven’t experienced any financial relief.
“I voted for Biden but I don’t know what he’s talking about when he says ‘Bidenomics,’ or whatever it is, is working,” Sabrina Jones of Denver, Colorado, told The Epoch Times. “Prices aren’t going down for me or anybody I know.”
Ms. Jones isn’t the only American with a pessimistic view of the economy.
A survey recently released by Bankrate shows that 50 percent of U.S. adults say their overall financial situation is worse than it was prior to November 2020, and 69 percent say their cost of living has increased in the past three years.
“I feel like things have gotten worse since Trump, and I don’t think they’re going to get better,” Ms. Jones said.
The reason many Americans have a dour outlook on the economy shouldn’t take anyone by surprise, senior economic analyst for Bankrate Mark Hamrick told The Epoch Times. “In a word: Inflation.”
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SOURCE: www.theepochtimes.com
RELATED: ‘Bidenomics’ should take a page from the ‘Clintonomics’ playbook
President Joe Biden speaks during a stop at a solar manufacturing company that’s part of his “Bidenomics” rollout on Thursday, July 6, 2023, in West Columbia, S.C. (AP Photo/Meg Kinnard)
Published November 17, 2023
With the 2024 presidential election less than a year away, supporters of President Biden are worried that his popularity rating is stuck around 40 percent with his handling of the economy the principal reason cited.
A recent Times/Siena College survey of voters is especially concerning: It showed Biden trailing Donald Trump in five of six key battleground states with support fraying from demographic groups — Blacks, Hispanics and younger voters — that backed him by wide margins in 2020.
A major challenge that Biden faces is that voters across all income levels felt his policies had hurt them personally, while they credited Trump’s policies for helping them.
At first blush, this may be hard to comprehend considering that growth of the economy and labor force has been stronger during Biden’s tenure than Trump’s. However, the main reason for voters’ dissatisfaction is they equate the performance of the economy with inflation, which has been higher over the past three years than at any time since the 1970s and early 1980s.
Thus, while inflation has fallen faster than expected this year, voters are cognizant that price levels today are considerably higher than before the pandemic struck — in the vicinity of 20-35 percent for items such as food, utilities, rent and motor vehicles. A recent poll by the Financial Times and University of Michigan’s Ross School of Business found that 82 percent of respondents said price increases are their biggest source of financial stress.
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SOURCE: www.thehill.com
RELATED: Bidenomics Has a Mortal Enemy, and It Isn’t Trump
Published November 16, 1981
On Oct. 26, the Department of Commerce announced that gross domestic product grew at an annual rate of 4.9 percent in the third quarter. This growth rate ran well above even optimistic forecasts, leading to what can only be called triumphalism from a White House dead set on making Bidenomics a key to its 2024 presidential campaign. President Biden issued a self-congratulatory statement, and the White House echoed it over and over — and Donald Trump’s relative popularity increased.
As the White House proclaimed U.S. prosperity, a New York Times/Siena College poll found that 59 percent of voters in six key swing states said they had more confidence in Mr. Trump’s ability to manage the economy than in Mr. Biden’s, regardless of whom they thought they’d vote for. Zero — yes, zero — respondents under 30 in three of the swing states said they considered the economy “excellent.”
Swing state voters prefer Trump’s management of the U.S. economy to Biden’s
Voter opinion from Nevada, Georgia, Arizona, Michigan, Pennsylvania and Wisconsin — all states won by Mr. Biden in 2020.
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SOURCE: www.nytimes.com
