{"id":1998923,"date":"2023-08-12T16:22:04","date_gmt":"2023-08-12T20:22:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-continues-to-push-his-bidenomics-agenda-voters-arent-buying-it\/"},"modified":"2023-08-12T16:24:29","modified_gmt":"2023-08-12T20:24:29","slug":"biden-continues-to-push-his-bidenomics-agenda-voters-arent-buying-it","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-continues-to-push-his-bidenomics-agenda-voters-arent-buying-it\/","title":{"rendered":"Biden persists with Bidenomics, but voters remain unconvinced."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-continues-to-push-his-bidenomics-agenda-voters-arent-buying-it%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1998923&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>President Biden&#8217;s Economic Strategy Faces\u2062 Skepticism<\/h2>\n<p>President Joe Biden \u2062is confident in the success of his economic strategy, Bidenomics, and the benefits it would offer middle-class Americans, yet the majority of voters are still unfamiliar\u2063 with or skeptical of his economic \u2062vision.<\/p>\n<p>While unemployment hovers around <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/in-2021-americas-population-grew-at-slowest-rate-since-founding-of-the-nation\/\" title=\"In 2021, America\u2019s Population Grew At Slowest Rate Since Founding Of The Nation\">historically low levels<\/a>, there has been a significant drop in inflation compared to last year, a point Mr. Biden frequently underscores.<\/p>\n<p>Annual inflation slowed to 3.2 percent \u200bin July from a peak of\u200b 9.1 percent \u2064a\u2062 year ago.<\/p>\n<blockquote>\n<h3>Related Stories<\/h3>\n<ul>\n<li><a href=\"http:\/\/www.theepochtimes.com\/opinion\/bidenomics-has-been-a-disaster-5459730\">\u2018Bidenomics\u2019 Has Been a Disaster<\/a> &#8211; 8\/11\/2023<\/li>\n<li><a href=\"http:\/\/www.theepochtimes.com\/us\/biden-lauds-boom-of-manufacturing-at-new-mexico-factory-to-sell-voters-on-bidenomics-5454869\">Biden Lauds &#8216;Boom of Manufacturing&#8217; at New Mexico Factory to Sell Voters on &#8216;Bidenomics&#8217;<\/a> &#8211; 8\/9\/2023<\/li>\n<\/ul>\n<\/blockquote>\n<p>&#8220;Today\u2019s numbers show our economy remains strong. Annual \u2062inflation has fallen by around two-thirds since last summer, and real wages are \u2064up \u2064for working folks this year,&#8221; the president \u2063wrote on Aug. 10 on social media\u2064 following the release of July inflation data.<\/p>\n<p>&#8220;We&#8217;ve\u2062 done this while\u2062 maintaining near-record low unemployment and \u2062strong economic growth. That&#8217;s Bidenomics,&#8221; he added.<\/p>\n<p>However, Americans do not feel much better when grocery shopping or to the gas station\u200d to fill \u2064up their tanks. That&#8217;s because of the cumulative price increases they&#8217;ve experienced since Mr. Biden took office.<\/p>\n<div class=\"shortcode\">\n<div class=\"lazyload-wrapper\">\n<div class=\"lazyload-placeholder\"><\/div>\n<\/p><\/div>\n<\/div>\n<p>Overall, prices have surged by almost \u200d17 percent\u2014about 20 percent for\u2064 food, more than 53\u200c percent for gasoline, and 16 percent for housing\u2014during Mr. Biden\u2019s 2.5-year presidency.<\/p>\n<p>Yet the president, who is running \u2063for re-election \u2064in 2024,\u200b avoids taking responsibility for high inflation. He has consistently communicated to the American people that the primary reasons for the elevated prices are Russia&#8217;s invasion of Ukraine and \u2062the pandemic, which has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gas-prices-break-record-but-diesel-prices-will-greatly-affect-all-americans-and-the-world\/\" title=\"Gas Prices Break Record, but Diesel Prices Will Greatly Affect All Americans \u2013 And the World\">disrupted supply chains<\/a>.<\/p>\n<p>As rising prices \u2062continue to\u200b strain\u2062 household budgets, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hunter-bidens-art-buyers-revealed-and-theres-1-name-that-should-raise-eyebrows\/\" title=\"Hunter Biden's art buyers exposed, with one name causing suspicion.\">credit \u2064card debt<\/a> has hit $1 trillion for the first time, according to the Federal Reserve Bank of\u2062 New York. Total household debt reached $17.06 trillion in the second quarter\u200b of 2023, rising by $2.5 trillion since Mr. Biden assumed office.<\/p>\n<h2>Bankruptcies Rise<\/h2>\n<p>Businesses are also experiencing financial \u2064strain. The president accuses them of\u200c price gouging and profiteering, yet many\u200c businesses, large and small, are grappling \u2063with rising operational and borrowing costs. Furthermore, there has \u2062been a noticeable uptick in the \u2063number\u200d of\u2062 bankruptcies this year.<\/p>\n<p>In the first \u200csix \u200dmonths of 2023, there \u2062were 340 corporate bankruptcies, the highest level in 13 years, according\u200d to S&#038;P Global Market Intelligence.<\/p>\n<p>Small business owners, in particular, are \u2064not benefiting from Bidenomics, argues Roman Milyushkevich, CEO and co-founder of scrape-it, a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-continues-to-push-his-bidenomics-agenda-voters-arent-buying-it\/\" title=\"Biden persists with Bidenomics, but voters remain unconvinced.\">software development company based<\/a> in Houston, \u200dTexas.<\/p>\n<p>&#8220;Even though Bidenomics credits itself\u2062 with boosting infrastructure building and manufacturing policies, the \u2063effect on\u2062 small businesses has been minimal. Software companies \u200blike ours \u2064have been\u2063 affected by inflation, \u200crising \u2064interest rates, and crippling uncertainty,&#8221; he told The Epoch Times.<\/p>\n<p>This has resulted\u200c in layoffs and made \u200cit difficult to find qualified workers at competitive wages, he added.<\/p>\n<p>Peter Michaels, the CEO of Yeespy, a startup that provides parental monitoring\u2063 solutions, has mixed thoughts about Bidenomics.<\/p>\n<p>&#8220;Some elements of \u200dBiden&#8217;s economic approach have benefited me individually, including the extension of child tax credits and access to less expensive healthcare,&#8221; Mr. Michaels told The Epoch Times. &#8220;My \u2063main concerns with Bidenomics, though, center on some \u200blengthy-term consequences.&#8221;<\/p>\n<p>He\u200c believes \u2064that &#8220;the \u200cvast sum \u2062of money that the government spends&#8221; and &#8220;plans to raise taxes on high-earnings\u200c individuals&#8221; to fund these spendings \u2064will eventually hinder entrepreneurship in the country.<\/p>\n<h2>Widespread Pessimism<\/h2>\n<p>Mr. Biden took a victory \u2064lap after the release of July\u2019s \u200bemployment figures, hailing the latest unemployment rate as evidence that his economic policies are working.<\/p>\n<p>&#8220;Unemployment near a record \u200clow and the share of working-age Americans who \u2062have jobs at a 20-year high: that\u2019s Bidenomics,&#8221; the \u2062president said in a statement on August\u200b 4.<\/p>\n<p>Despite a string of encouraging economic headlines in recent months, poll numbers continue\u200b to \u200creveal widespread pessimism about the U.S. economy.<\/p>\n<p>A\u2062 recent CNN\u2062 poll showed \u2064that Biden&#8217;s overall approval\u200b rating remains at \u200b41 percent, the same as it has been since\u2063 the spring. However, when it comes\u2063 to \u2062his handling of the economy, his approval dips to 37 percent and\u2064 it\u2063 drops even further to 30 percent when\u2062 it comes to his handling of inflation.<\/p>\n<p>Many other surveys have also \u2063found voters giving Biden bad grades on the economy.<\/p>\n<p>According to a recent Rasmussen poll, most voters believe that the economy has worsened under Bidenomics. The survey showed that only 29 percent of voters\u2063 feel that\u2064 the U.S. economy \u2063has improved in the past year, while\u2064 56 percent believe that it has\u200b deteriorated, and 13 percent believe \u200cit has \u2062remained \u200dstable.<\/p>\n<p>Furthermore, 93 \u200bpercent\u200b say economic issues\u200b will be &#8220;important&#8221; in the 2024 presidential election, with 71 percent believing that they&#8217;ll be &#8220;very important.&#8221;<\/p>\n<p>Whether public opinion \u200cwill change fast enough\u2063 to help Mr. Biden in the upcoming election is an open question.<\/p>\n<p>&#8220;As a small\u200d business owner and \u200dmother, I have seen\u2063 pros and cons to Biden&#8217;s economic plans,&#8221; Diana Cox from Alabama told The Epoch \u2062Times. She\u200d is a home and gardening expert who runs the website TheGardeningTalk.com.<\/p>\n<p>&#8220;The child tax credit and \u2062American Rescue Plan provided a lifeline during the pandemic. However, the\u2062 resulting inflation and labor shortages have introduced new\u2064 obstacles we are working hard to navigate,&#8221; she added.<\/p>\n<p>Biden&#8217;s climate policies, \u2064which are part of his \u2063Bidenomics vision, \u2062also\u200b receive low approval ratings.<\/p>\n<p>According \u200bto a recent poll by the Washington Post and the University of Maryland, the majority of Americans\u200b are skeptical of Biden&#8217;s climate \u200bpolicies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden is optimistic about the triumph of his economic plan, Bidenomics, and its advantages for the middle class. However, most voters remain unaware or doubtful of his economic vision. Despite low unemployment rates, inflation has notably decreased compared to last year.<\/p>\n","protected":false},"author":531,"featured_media":1998924,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-1998923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1998923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/531"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1998923"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1998923\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1998924"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1998923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1998923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1998923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}