The News
U.S. President Joe Biden will make a major pitch Wednesday that his economic policies are working, promoting what the White House calls “Bidenomics” during an address in Chicago.
The rebrand sums up Biden’s recent legislative accomplishments and focuses on the idea that the government should invest in the economy “from the middle out and the bottom up, not the top down,” according to the White House.
We’ve curated insightful analysis on what Biden’s latest pitch means, and how it could impact the 2024 election.
The Insights
- In arguing for his strategy, Biden’s address will “draw a contrast with the small-government philosophy that Republican opponents have espoused for decades.” It’s also a sign that Biden will put the economy at the center of his reelection bid, though that could be a risk, given that many Americans aren’t too optimistic about the economy right now. — Bloomberg
- The White House once saw “Bidenomics” as an insult, and just a few weeks ago Biden himself said, “I don’t know what the hell that is." But now the administration is embracing the slogan, and hopes to get more credit for positive jobs and inflation numbers. — The Washington Post
- Biden’s legislative record, including wins on infrastructure, semiconductors, and renewable energy, could be overshadowed in the public eye by the inflation hike that defined Biden’s first year in office, the Wall Street Journal’s Chief Economics Commentator Greg Ip writes. That could make voters skeptical of Bidenomics: A May poll found that inflation is the main reason voters disapprove of Biden’s handling of the economy.
