Headline Roundup • August 17th, 2023
What is 'Bidenomics'? White House Pushes President's Economic Strategy
Economy And Jobs,Joe Biden,Biden Administration,White House,Recession,Inflation,Federal Reserve,2024 Presidential Election
Summary from the AllSides News Team
The Biden Administration is pushing the term “Bidenomics” to describe the president’s approach to economic recovery. Is Bidenomics resonating with Americans?
What is Bidenomics? Speaking with MSNBC (Left bias) in June, White House Senior Advisor Anita Dunn described Bidenomics by stating, “If Reaganomics was based on the idea that if you cut taxes for the wealthiest corporations, the wealthiest people in the society, and that at some point the remnants of those will trickle down to the middle class and the working class — ‘Bidenomics’ is the exact opposite… Bidenomics says that the way to grow the economy in this country is you grow the middle class.” Sen. John Barrasso (R-WY) took a different approach, describing it as “inflationary Washington spending, costly regulations and regressive taxes.”
Result and Reception: A Bloomberg (Lean Left bias) analysis described the result of Bidenomics as a “construction boom, potentially with a side of inflation,” noting clean energy and semiconductor subsidies as contributing to factory construction doubling in the past year. Washington Examiner (Lean Right bias) cited a poll concluding only 36% of Americans approve of Biden’s handling of the economy to determine Biden is having “difficulty persuading voters” on the merits of Bidenomics.
How the Media is Covering It: Coverage across the spectrum is highlighting the administration's struggle to sell Bidenomics to voters. Left-rated outlets have highlighted the gamble Biden is taking by tying his name to the stability of the economy. Right-rated outlets are frequently using the term when reporting on negative economic news.
Featured Coverage of this Story
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Congressional Democrats are looking to use this summer's five-week recess to cultivate support for President Joe Biden ahead of next year's election by pitching "Bidenomics" to constituents across the country.
But the party faces an uphill battle in promoting this message to a public that is still anxious over the state of America's post-COVID economy and has not yet fully bought into the success story Democrats are selling.
Just 37 percent of respondents to a CNBC All-America Economic Survey released last month approved of Biden's handling of the economy. Yet,...
President Joe Biden is having difficulty persuading voters that he is handling the economy well.
In the past weeks, Biden and his team have pushed "Bidenomics," a catchphrase to represent his economic priorities and a callback to President Ronald Reagan's "Reaganomics." However, rather than championing a trickle-down system, Biden is adamant about a ground-up approach. For him, this means building the economy back "from the bottom up and the middle out."
However, according to a new Associated Press-NORC poll, this isn't sinking in with the public. Only 36% of adults...
A preoccupation within President Joe Biden’s administration is why the president can’t get any love for a relatively strong economy. In hopes of changing things, Biden opted to embrace “Bidenomics” as a shorthand for his economic efforts. The phrase had been popping up for months, usually with negative connotations. Now Biden is staking his claim for a second term on it.
1. How does Biden define Bidenomics?
He applies it to elements of his domestic agenda that he says are designed to help regular people directly instead of “trickling down”...
