The Joe Biden administration is set to introduce a new campaign message promoting Joe Biden’s economic strategy and achievements.
The message, known in shorthand as Bidenomics, calls for the boosting of the middle class through government investments, rather than tax cuts for the wealthy.
As Biden advisors Anita Dunn and Mike Donilon wrote in a memo this week, Biden is “turning the page on the era of trickle-down economics.”
Joe Biden Is Promoting the Numbers
Biden had an important speech in Chicago on Wednesday, where he touted flattering economic numbers in an effort to persuade a skeptical public that a recession will be avoided. Here are some of the main points Biden will be making now and as he continues to promote Bidenomics.
One, the labor market is strong. During the pandemic, “the CBO projected that unemployment would not drop below 4 percent until 2026,” but unemployment dropped below 4 percent in 2021 – Biden’s first year in office.
Two, better wages and benefits. “The prospect of good jobs is pulling people off the sidelines and into the workforce: the share of working-age Americans in the workforce is now higher than at any time in more than 15 years, and higher than any day under President [Donald] Trump,” according to the Dunn/Donilon memo.
Three, the middle class is on the rise. The memo acknowledges that “our work isn’t done” regarding inflation – but that “Americans have higher net worths and higher real disposable incomes today than they did before the pandemic.”
Public Still Skeptical of Joe Biden and His Economic Track Record
Many economists do agree that the economy is improving under the Joe Biden White House, but that hasn’t necessarily convinced the American public. Actually, a majority of Americans are convinced the economy is still in a bad precedent – and that Biden is to blame.
“Asked about the disconnect between increasingly positive economic data and Americans’ perceptions of the economy, Biden’s chief economic adviser Lael Brainard pointed to the ‘record economic uncertainty’ that Americans have faced over the last two years,” CNN reported.
The promotion of Bidenomics will be all about convincing Americans that the economy is improving. “Bidenomics is rooted in the simple idea that we need to grow the economy from the middle out and the bottom up – not the top down,” the Dunn/Donilon memo reads.
Curiously, Dunn and Donilon are not economists, but political messaging experts – which says something about the nature of Bidenomics. “Aides are hopeful a more concerted effort to convince Americans of the economy’s strength – and Biden’s own role in managing it – will improve his political standing,” CNN reported.
The Biden administration has been gearing up to promote their economic achievements for months but has held off for fear that the economy’s upswing was only temporary. That the administration is deciding now to move forward with their Bidenomics message suggests they believe the economic upswing is on a sustainable trajectory.
Economics Crucial to Reelection Hopes
Perhaps no other factor has been so determinative in whether an incumbent president gets reelected as the economy. Each president that has been ousted – Ford, Carter, Bush 41, Trump – can point to the economic downturn as a culprit. If the American public perceives that we are still amidst an economic downturn, that could play poorly for Biden as he seeks reelection in 2024. The White House’s job now is to convince the public that everything is just fine.
Harrison Kass is the Senior Editor and opinion writer at 19FortyFive. An attorney, pilot, guitarist, and minor pro hockey player, Harrison joined the US Air Force as a Pilot Trainee but was medically discharged. Harrison holds a BA from Lake Forest College, a JD from the University of Oregon, and an MA from New York University. Harrison listens to Dokken.
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