Kamala Harris Admits Economy Isn’t Working – During a visit to Philadelphia on Tuesday, Vice President Kamala Harris appeared to slam her own administration’s failure to improve the economy.
In a speech announcing an increase in minimum wage for construction workers on federally funded projects, Harris explained: “For far too long our economy has not been working for working people.Trickle down economics benefitted big corporations and the wealthiest Americans but not workers.”
Harris’s ability to capture voters’ imagination is debatable, and she has been noted for her tendency to reiterate points and offer self-evident explanations when addressing the public. Nor is she particularly popular with the public, having consistently polled under 50% since 2021.
Big Trouble Ahead for Kamala Harris and Joe Biden?
Addressing the claim Harris admitted that the economy isn’t working for most Americans, GOP strategist Joseph Pinion told Fox News on Wednesday
“Everyone once in a while they happen to blurt out the truth, and the truth is quite clear. Americans are effectively doing more work for less pay when you factor in inflation.
“Average savings are up but if you look at median savings, they’re the lowest in three years.
“People have been hollowed out by this Bidenomics, we’ve got big trouble ahead,” he continued.
His comments come after fresh data from the Federal Reserve Bank of New York revealed that Americans have racked up a record $1 trillion of credit card debt.
Thursday’s Consumer Price Index report showed that inflation climbed over the last year and is now over double what it was when Biden took office in January 2021.
Inflation has averaged 6.1% during his Presidency— over double the level under any of the last four US presidents. Real wages are also down by 3% under his leadership and prices soared by 16.9%.
Is Bidenomics Working?
Not everyone agrees that Bidenomics is risking a major backlash.
Former US secretary of labor Robert Reich claims that the White House’s push for a combination of public investments in infrastructure and strategic policies like antitrust enforcement, pro-labor initiatives, and limits on Chinese imports.
President Joe Biden’s focus on altering the economy’s structure to benefit the bottom 90% is contrasted with previous economic doctrines that mainly favored the wealthy.
New Republic staff writer Timothy Noah also defended Bidenomics in a recent op-ed, suggesting many cases against ut were influenced by “misinformation”. He argues that personal savings have mostly risen, real wages are not necessarily declining due to inflation, and economic confidence has improved.
He also points to the fact that US unemployment is at historic lows, GDP is rising, and inflation is decreasing. Ultimately, the article concludes that Biden has managed the economy well so far and that his policies have resulted in positive economic indicators.
Georgia Gilholy is a journalist based in the United Kingdom who has been published in Newsweek, The Times of Israel, and the Spectator. Gilholy writes about international politics, culture, and education.
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