Polling shows that Bidenomics is hurting Joe Biden’s re-election chances. A Bloomberg/Morning Consult poll found that 65% of Americans disapprove of Biden’s economic policies. This likely contributes to Trump leading Biden in key swing states that he won in 2016 and lost in 2020 by a 47% to 43% margin.
These include Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, and Wisconsin.
History Versus Bidenomics
This should be seen in the Biden White House as an alarm for the president’s re-election. The last three presidents who have gone up for re-election with a lagging economy have lost. Jimmy Carter went down in flames following Ronald Reagan’s debate comment, “Are you better off today than you were four years ago,” in 1980. Bill Clinton knocked out George H.W. Bush with the slogan, “It’s the economy, stupid.” And Biden came into office focusing on how Trump had lost more jobs during the pandemic than his predecessors.
Democrats are realizing that Bidenomics is not a winning message. The president has worked to claim that the he has tamed inflation and created 13 million jobs; however, prices for basic necessities remain much higher than when Donald Trump was president.
Fifty-one percent said that the economy was better when Trump was president. Only 26% said that Bidenomics was good for the economy, and 49% said they disapproved of Bidenomics.
“At this point, Bidenomics doesn’t really have strong answers to people’s biggest worries,” Will Marshall, president of the Progressive Policy Institute, a centrist Democratic think tank, said. “There ought to be a lot of thinking in the White House now about changes in the way they present their case for the economic good that this administration has done.”
Bidenomics Hurts Biden With Minorities
Low-income minorities have been hit hard by Biden’s inflationary policies.
Rep. Steven Horsford, who chairs the Congressional Black Caucus, said last month that Biden’s Bidenomics message was not winning. He claimed that it focused on Biden’s electoral ambitions instead of his administration’s economic accomplishments.
in an interview this week that he’s warned the White House that the Bidenomics brand is built on shaky ground. He believes it advances a message that wrongly centers the conversation on the president and his electoral ambitions rather than the voters who stand to gain from the administration’s economic accomplishments.
“With all due respect to the president, to the White House, this is not so much about them as it is the people who are benefiting by the policies that they came out and demanded,” Horsford told Politico. “We have to do a better job framing this not so much for one person — for the office of the presidency — but for the people.”
Poor People Hurt by Bidenomics
Mercatus Institute economist Veronique De Rugy notes that poor people have been hit hard by Biden’s economic policies.
“Year-over-year inflation rose to 3.7% in August, nudging back up after peaking at 9.1% not long ago. The ‘core’ inflation rate (excluding food and energy) is down slightly to 4.3%. Although these numbers are an improvement after we experienced their highest levels since 1982, they remain disturbingly high,” De Rugy wrote last month. “This is bad news for Americans who have seen their standard of living fall since early 2021. Inflation means real average hourly earnings are down: Americans can afford less with their hard-earned dollars. More than three-quarters of people’s income is devoted to living expenses such as housing, transportation and food — all of which have become more expensive. Food prices, for instance, rose by 19.3%. Shelter rose by 16.5% since 2021. Gasoline prices are up, too.”
Inflation is a tax on every American’s standard of living. It’s also a regressive tax. Low-income workers tend to experience higher-than-average levels of household inflation. Making matters worse, high interest rates resulting from the Fed’s fight against inflation also hit them the hardest.
Biden Campaign Not Acknowledging Failure
The Biden campaign remains in denial.
“Like they did in 2022, Americans will face a choice between MAGA Republicans whose agenda serves the rich and powerful, and Joe Biden, whose agenda serves the middle class,” Biden campaign spokesperson Kevin Munoz, told Politico.
John Rossomando is a defense and counterterrorism analyst and served as Senior Analyst for Counterterrorism at The Investigative Project on Terrorism for eight years. His work has been featured in numerous publications such as The American Thinker, The National Interest, National Review Online, Daily Wire, Red Alert Politics, CNSNews.com, The Daily Caller, Human Events, Newsmax, The American Spectator, TownHall.com, and Crisis Magazine. He also served as senior managing editor of The Bulletin, a 100,000-circulation daily newspaper in Philadelphia, and received the Pennsylvania Associated Press Managing Editors first-place award for his reporting.