President Joe Biden claimed on Fox News that his economic policies were bringing about a beneficial change for the country.
In a recent Twitter video, President Biden voiced his opposition to “trickle-down economics,” according to a transcript made available by the White House.
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“The entire towns and communities, from where I lived all the way out there and through the Midwest, were shut down, hollowed out. I mean literally hollowed out,” he said.
Fox News displayed visuals during Biden’s address that showed huge rises in consumer prices, inflation rates, and credit card debt under his presidency. The information supplied shows that between January 2021 and May 2023, consumer prices increased by 15%, the May inflation rate was 4%, and consumer credit card debt increased by 28%.
“Bidenomics. We’re turning this around,” according to a graphic, the average hourly wage fell 3.1% between January 2021 and May 2023, according to Biden.
“We’re supporting targeted investments. We’re strengthening America’s economic security, our national security, our energy security, and our climate security,” moments earlier, Fox News had published graphics showing that between January 2021 and May 2023, existing home sales had decreased by 34% and new home sales had decreased by 15%.
Biden has been referred to as “delusional” by others, and another poster said, “I feel embarrassed for America.”
Biden has been referred to as “delusional” by others, and another poster said, “I feel embarrassed for America.” in response to the lecture, Noah Rothman wrote in National Review.
“Indeed, if they can’t leverage Biden’s indictment of his own economic policies for all the political value they’re worth, they’re in the wrong business,” he wrote.
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According to an editorial in the New York Post, Bidenomics has failed.
“Steep inflation, declining real incomes, a falling stock market and deepening inequality. Not usually cause for a presidential victory lap. Still, the president frames Bidenomics as chiefly pursuing policies that are ‘pro-worker’ and ‘pro-investment.’ Instead, his policies resuscitate long-rejected big government failures,” it wrote.
“All in all, Bidenomics relies on vast subsidies and regulations to shield favored industries from competition, at the expense of consumers and taxpayers. It’s a spoils system for big labor and politically connected industries,” it wrote.
“Given the soaring federal debt, steep inflation and falling incomes, its no wonder that the president would rather criticize ‘trickle-down’ straw men than defend his economic record,” the editorial said.
Only 34% of Americans are happy with President Biden’s handling of the economy, according to a survey by The Associated Press-NORC Center for Public Affairs Research. This information contradicts Biden’s assertion that he has accomplished wonderful things. The margin of error for the poll, which polled 1,220 adults between June 22 and June 26, is 3.9 percentage points.
