U.S. President Joe Biden defended his economic record in a fiery speech, saying āBidenomicsā had succeeded where the ātrickle-down approachā had failed. Bidenās tenure has been marked by a series of big-ticket investments in infrastructure ā green tech, transit, communications, and more. Whether coincidentally or not, the U.S. economy is outperforming other developed nationsā. Biden claims his old-school Keynesian approach, intended to stimulate the sluggish post-pandemic economy, is working: Officials estimate that the administrationās tax incentives have led to $500 billion in new private-sector spending on solar, batteries, and semiconductor production. A spokesperson for the president said āBidenomicsā is āword of the day, word of the week, word of the monthā at the White House. |