The president of United States, Joe Bidenput this Wednesday the economy at the center of his electoral campaign for 2024 with a speech in which he outlined his vision for improve the lives of the working class with support for unions and taxes on the richan idea baptized as “bidenomics“.
This attempt to provide Biden with a fresh message ahead of the 2024 election marks the biggest effort to date by the White House to convince the public that the president’s economic policies have helped the country recover from the pandemic and continue to grow. .
The task is not easy, since a only a third of Americans think they are doing a good job with the economy and its approval ratings are at 43%according to gallup.
Biden chose the old New York Post Office as the setting for his big speech. Chicago: A high-ceilinged space with marble walls, decorated with huge American flags and large blue signs with the word “Bidenomics” decorating the stage.
In front of an audience of 200 people, the president took the podium to define this new idea called “Bidenomics.”
(Also: The new norm with which European governments seek to spy on journalists)
What is “Bidenomics”?
“Bidenomics” is about the future, it is another way of saying that we are going to restore the American dream,” said the president, who said that economists are the ones who invented that term.
Under the “Bidenomics” proposal, the White House has included a host of ideas, from infrastructure investments until tax incentives to resuscitate the US manufacturing sector by going through more populist policiessuch as ending the hidden commissions charged by airlines, banks and other sectors.
(You may be interested in: The secrets of Putin’s crisis: how weakened was he after the Wagner rebellion?)
According to the White House, “Bidenomics” represents a fundamental break with the economic theory of “Reaganomics”the neoliberal economic vision promoted by former President Ronald Reagan (1981-1989) to promote free markets and reduce taxes.
Although this neoliberal vision is associated with Reagan, Biden directly linked it to former President Donald Trump (2017-2021), whom he did not call by name and referred to only as his “ancestor.”
indirectly, Biden criticized Trump, with whom he could face again in the 2024 elections, for the policies he implemented to benefit the richest in the US., while appealing to the disenchantment of the working class with globalization.
“This is the moment. American families are finally going to get relief,” Biden said.
(Keep reading: ‘He’s losing the war at home, he’s an outcast’: Biden on Vladimir Putin)
The president promised to carry out some of the biggest social reforms that he championed during his campaign for the 2020 elections and that were stalled because the Democrats do not have enough votes to pass them in Congress.
(You may be interested in: Naël M, the young man who was shot by the police and whose death shocked France)
Biden, in fact, used his speech to make it clear that he intends to continue fighting for higher taxes for the rich and a great reform that allows children between the ages of three and five to access free education, in addition to lowering the high costs that Americans pay for college.
With the arrival of Biden to the White House in January 2021, the US economy recovered after the drop in GDP during the pandemic and unemployment rates fell to 3.7% last May.
However, the economy has shown its worst facet with inflation, who went up to all-time highs in 40 years, reaching 9.1% in June 2022, although it has been falling back and stood at 4% in May.
EFE
#Bidenomics #Joe #Bidens #economic #proposal #electoral #campaign