The honeymoon is officially over for Biden and his economic policies, which are being referred to as “Bidenomics.” Hiring has slowed down, interest rates are high, and the stock market is stagnant. The middle class is struggling to build wealth and stay afloat financially. It’s no surprise that “Bidenomics” is failing, as it was a terrible messaging campaign from the start. Who came up with this idea? Did Biden himself think it was a good one? Regardless, it’s clear that the American people are not impressed.
Some staffer actually thought, "Hey, let's just name all these price increases and high-interest rates after the president." Brilliant job.
— Bonchie (@bonchieredstate) September 5, 2023
Even Biden doesn’t seem to understand what “Bidenomics” is. In a speech earlier this year, he admitted, “I don’t know what the hell that is.” And in a focus group with Pennsylvania swing voters, one participant described it as a “jumbled mess.” It’s no wonder that it’s hard to explain when even the namesake of the term doesn’t know what it means.
Anyone with a brain could have predicted the failure of “Bidenomics.” The economy was already struggling when it was introduced, so it was a baffling move to embrace it. The American people want affordable food, property ownership, and the ability to achieve the American dream. They don’t care about inflated jobs reports fueled by government spending. The reality is that retirements are down, prices are up, and wages are not keeping up. “Bidenomics” has done nothing positive for the economy and there doesn’t seem to be an end in sight.
How long will it take for interest rates to come down? Five years? A decade? And don’t expect prices to come down anytime soon either. The best we can hope for is a slowing in their growth. This is the reality of “Bidenomics,” and it’s not a pretty picture. It’s time for a change before it’s too late.