{"id":1999435,"date":"2023-08-13T16:32:58","date_gmt":"2023-08-13T20:32:58","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-continues-to-push-his-bidenomics-agenda-voters-arent-buying-it-2\/"},"modified":"2023-08-13T16:34:44","modified_gmt":"2023-08-13T20:34:44","slug":"biden-continues-to-push-his-bidenomics-agenda-voters-arent-buying-it-2","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-continues-to-push-his-bidenomics-agenda-voters-arent-buying-it-2\/","title":{"rendered":"Biden persists with &#8216;Bidenomics&#8217; agenda, 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\">18<\/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-2%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=1999435&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 &#8220;Bidenomics&#8221; Economic\u2063 Strategy Faces Skepticism<\/h2>\n<p>President Joe\u200b Biden is confident in the \u200csuccess of his &#8220;Bidenomics&#8221; economic strategy and the benefits it would offer middle-class Americans, yet the majority of voters are\u2064 still unfamiliar with or skeptical of his economic vision.<\/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 frequently \u2064underscored by President Biden.<\/p>\n<p>Annual inflation slowed to 3.2 percent in July from\u2063 a peak of 9.1 percent a year ago.<\/p>\n<blockquote>\n<h3>Related \u2062Stories<\/h3>\n<ul>\n<li>\n      <a href=\"http:\/\/www.theepochtimes.com\/opinion\/bidenomics-has-been-a-disaster-5459730\">\u2018Bidenomics\u2019 \u2062Has Been a Disaster<\/a><br \/>\n      <br \/>\n      <span>8\/11\/2023<\/span>\n    <\/li>\n<li>\n      <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\u200c New Mexico Factory\u2062 to Sell Voters on \u200b&#8217;Bidenomics&#8217;<\/a><br \/>\n      <br \/>\n      <span>8\/9\/2023<\/span>\n    <\/li>\n<\/ul>\n<\/blockquote>\n<p>&#8220;Today\u2019s numbers show our\u200c economy remains strong. Annual inflation has fallen by around\u200b two-thirds since last summer,\u200d and real wages are up for working folks\u200b this year,&#8221; the president wrote on Aug. 10 \u200bon social media following the release of July\u200c inflation data.<\/p>\n<p>&#8220;We&#8217;ve \u2064done this while maintaining near-record low unemployment and strong economic growth. That&#8217;s Bidenomics,&#8221; he added.<\/p>\n<p>However, Americans don&#8217;t\u200c feel much better when they go grocery shopping or to \u200dthe gas station to fill up their tanks. That&#8217;s because of the cumulative price increases they&#8217;ve experienced since President 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 17 percent\u2014about\u200b 20 percent for food, more than 53 percent for gasoline, and 16 percent for housing\u2014during President Biden\u2019s \u200b2 1\/2 years in the White House.<\/p>\n<p>Yet the president, who is seeking reelection in 2024, avoids taking responsibility for high inflation. He has consistently communicated to the American people that the primary\u200c reasons for the elevated prices are Russia&#8217;s invasion \u2064of Ukraine and the pandemic, which has disrupted supply chains.<\/p>\n<p>As\u2064 rising\u2063 prices continue to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/all-eyes-are-on-thursdays-inflation-data-dump-after-aggressive-federal-reserve-moves\/\" title=\"All Eyes Are On Thursday\u2019s Inflation Data Dump After Aggressive Federal Reserve Moves\">strain household budgets<\/a>, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nasa-worker-sentenced-to-18-months-in-prison-after-lying-to-govt-for-pandemic-benefits\/\" title=\"NASA worker sentenced to 18 months in prison after lying to govt. for pandemic benefits\">credit card debt<\/a> has hit $1 \u200btrillion for the first time, according to the\u200b Federal Reserve Bank \u2063of New York. Total household debt reached $17.06 trillion in\u200c the second quarter of 2023, rising by \u2064$2.5 trillion since President Biden took office.<\/p>\n<h2>Bankruptcies Rise<\/h2>\n<p>Businesses are also experiencing financial strain. The president accuses them of price gouging and profiteering, yet many businesses, \u2063large and small, are grappling with rising operational and borrowing costs. \u200bFurthermore, there has been a noticeable uptick in the number of bankruptcies this year.<\/p>\n<p>In the first six months of 2023, \u2063there were 340 corporate bankruptcies, the\u200d highest \u200blevel in \u206213 years, according to S&#038;P Global Market Intelligence.<\/p>\n<p>Small business owners, in\u200b particular, aren&#8217;t benefiting from Bidenomics, argues Roman Milyushkevich, the CEO and co-founder of scrape-it, a Houston-based software development\u2062 company.<\/p>\n<p>&#8220;Even though \u2062Bidenomics credits\u200b itself with boosting infrastructure building and manufacturing policies, the effect on small businesses has been minimal,&#8221; he told The Epoch Times. &#8220;Software\u200d companies like ours have been affected by inflation, rising interest rates, and \u200bcrippling uncertainty.&#8221;<\/p>\n<p>That&#8217;s resulted in layoffs and\u2064 made it difficult to find qualified \u200dworkers at \u2062competitive wages, he added.<\/p>\n<p>Peter Michaels, the CEO\u200d of Yeespy, a\u200c startup that provides parental monitoring solutions, has mixed thoughts about Bidenomics.<\/p>\n<p>&#8220;Some elements of Biden&#8217;s economic \u200bapproach have benefited \u2062me individually, including the extension of child tax credits and access \u200dto less expensive healthcare,&#8221; Mr. Michaels told The \u200bEpoch Times. &#8220;My main concerns with Bidenomics, though, center on some lengthy-term consequences.&#8221;<\/p>\n<p>He believes\u200d that &#8220;the vast sum of money that the government spends&#8221; and &#8220;plans\u200b to raise \u2062taxes on high-earnings individuals&#8221; to fund that spending will eventually hinder entrepreneurship in the\u200d country.<\/p>\n<h2>Widespread Pessimism<\/h2>\n<p>President Biden \u200dtook a victory lap after \u2063the release of July\u2019s employment figures, hailing the latest unemployment rate as evidence that his economic policies are working.<\/p>\n<p>&#8220;Unemployment near a record low and the share of working-age Americans who have jobs\u2064 at a 20-year high: that\u2019s Bidenomics,&#8221; the president said in a statement on Aug. 4.<\/p>\n<p>Despite a string of encouraging economic headlines in recent months, poll numbers\u2064 continue to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-continues-to-push-his-bidenomics-agenda-voters-arent-buying-it-2\/\" title=\"Biden persists with 'Bidenomics' agenda, but voters remain unconvinced.\">reveal\u200b widespread pessimism<\/a> about the U.S. economy.<\/p>\n<p>A recent\u2062 CNN poll showed that the president&#8217;s overall approval rating remains\u200b at\u200d 41 percent, the same as it has been since the spring. However, when it comes to his handling of the economy, his\u2063 approval dips to 37 percent and it drops even further to 30 percent, when it comes\u200b to his handling of inflation.<\/p>\n<p>Many other surveys have also found \u200cvoters giving Biden bad grades\u200c 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\u200b 29 percent of voters feel that the U.S. economy has improved \u200cin \u2063the past\u2063 year, while\u2063 56 percent believe that it has deteriorated, and 13 percent believe it has remained stable.<\/p>\n<p>Furthermore, 93 percent say economic issues will be\u200d &#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 will change fast \u200denough to help President Biden in the upcoming election is an open question.<\/p>\n<p>&#8220;As a small business owner \u2064and mother, I have\u2064 seen pros and cons to Biden&#8217;s \u200beconomic plans,&#8221; Diana\u2063 Cox, a home and gardening expert from Alabama who runs the website TheGardeningTalk.com, told The Epoch Times.<\/p>\n<p>&#8220;The child tax credit and American Rescue Plan provided a \u2064lifeline during\u2064 the pandemic,&#8221; \u200bshe added. &#8220;However, the resulting inflation and \u200clabor shortages have introduced new obstacles we are working hard to navigate.&#8221;<\/p>\n<p>Biden&#8217;s climate policies,\u200c which are part of his Bidenomics vision, also <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.\">receive low approval ratings<\/a>.<\/p>\n<p>According to a \u2062recent poll by The Washington Post and the University of Maryland, the \u200cmajority<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden is optimistic about the triumph of his &#8220;Bidenomics&#8221; plan, promising advantages for the middle class. However, most voters remain unaware or doubtful of his economic vision. Unemployment remains low, and inflation has significantly decreased compared to last year.<\/p>\n","protected":false},"author":531,"featured_media":1999436,"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-1999435","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\/1999435","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=1999435"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1999435\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1999436"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1999435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1999435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1999435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}