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“Bidenomics” isn’t winning over American voters’ hearts
According to a recent Wall Street Journal survey, “Bidenomics” isn’t winning over American voters’ hearts.
About 60% of respondents have indicated that they disagree with the President’s economic policies, despite recent months showing lower inflation and a stable job market.
Despite the recent decrease in inflation and the stability in the job market in recent months, “Bidenomics” is not garnering favor among American voters.
On August 24, The Wall Street Journal polled 1,500 voters, finding that 59% of respondents disapproved and 37% approved of President Biden’s economic policies.
While 63% of respondents disapproved of Biden’s record on inflation and cost increases, 57% disapproved of the way he handled China policy.
This survey comes just over 14 months before the 2024 presidential election and at a time when much of Wall Street is shifting its perspective on the economy, with it looking better than expected for 2023, marked by reduced inflation.
Unemployment is currently stable at less than 4%, a level not seen in four decades, and recent quarter growth has surpassed analysts’ predictions.
Under the slogan “Bidenomics in Action,” President Biden revealed plans to fight inflation in July, but his administration has already benefited from support from the Federal Reserve, which has increased interest rates by about 5.5% during the previous 18 months to do s
On Labor Day, the President also highlighted the fact that America added 190,000 more jobs in August as proof of our successful economic history.
Addressing a crowd, he stated, “As we approach Labor Day, we need to take a step back and remember that America is in the midst of one of the strongest job-creating periods in our history – a time when our country is producing more jobs than ever before.”
Biden continued with a touch of sarcasm, saying, “And it wasn’t too long ago when America was losing jobs. In fact, in the entire history of my predecessors, only two presidents, when they took office, left with fewer jobs than when they started.” Referring to his predecessor, Donald Trump.
In addition to showing their disapproval of Biden’s economic policies, 73% of those surveyed by the Journal expressed the belief that an 80-year-old is too old to run for a second term, while only 47% said the same about Trump, who is three years younger than Biden.