President Biden has defined “Bidenomics” as encompassing almost everything good in the U.S. economy — falling unemployment, robust wage growth, new small business creation. Here are five key parts of Bidenomics:
Since taking office, the president has pushed through dozens of changes and personnel appointments that have upended everything from how workers unionize to how large corporations merge. Biden and his aides have sought to revive domestic manufacturing through a clean energy boom, while also trying — with mixed success — to expand the federal safety net.Biden’s advisers say the president wants an attempt to move beyond the “trickle-down economics” that defined the last four decades in Washington.
The underlying idea is that new government investment “crowds in” additional investments from private companies, a break from past belief that constraining the public sector would free the private sector to grow more. The result is a federal government that intervenes directly much more than it’s done in decades — to boost unions, block corporate monopolies, and spur economic and industrial growth, among other goals.
“The idea of trickle-down [economics] is if the public sector stops investing — if it just disinvests in our public infrastructure — the private sector will come in and make up the difference,” Jared Bernstein, the chair of the White House Council of Economic Advisers,Republicans see “Bidenomics” not as a coherent doctrine, but a collection of sometimes contradictory policies designed to please various interest groups in the Democratic coalition.
“Bidenomics is much less a coherent approach to economic policy and much more a grab bag of subsidies designed to advance key interests of the Democratic Party coalition,” said Michael Strain, an economist at the American Enterprise Institute, a center-right think tank. Here are five key parts of Bidenomics — and how they’ve fared over the president’s first two years in office.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2024 Preview: Bidenomics Versus the Trump Freak ShowIn the end, the difference between Joe Biden and Donald Trump “isn’t a wonky argument about policy, but an existential one about America,” sbg1 writes.
Read more »
Biden defends 'Bidenomics' after inflation ticks up in JulyPresident Joe Biden is adamant 'Bidenomics' is working despite annualized inflation ticking up to 3.2%, the first increase in a year.
Read more »
Biden claims credit for clean energy ‘boom’ in bid to reset climate messaging, tout achievementsBiden took credit for a clean energy and manufacturing “boom” from his tax-and-climate spending law and the bipartisan CHIPS and Science Act for semiconductors during a speech in New Mexico at the future site of a wind tower facility.
Read more »
Democrat MS Candidate Accepted Cash from CCP-Linked Tycoon with Ties to BidensA Democrat Mississippi gubernatorial candidate accepted campaign funds from a CCP-linked businessman with ties to Hunter and President Joe Biden, according to campaign finance filings.
Read more »
Opinion: Moving beyond thoughts and prayers to solutions on gunsGun safety ballot measure could lead to reduced bloodshed throughout California.
Read more »
Binance VIP Voices Ep. 1 With Raoul Pal: Crypto Institutional Adoption in 2023 & Beyond | Binance LiveJoin us for a thought-provoking discussion with Raoul Pal in our first episode of ‘Binance VIP Voices.’ In this AMA we will discuss the future of crypto institutional adoption in 2023 and beyond. As the market continues to evolve and capture mainstream attention, the spotlight shifts towards institutional players and their role in shaping the industry's trajectory. We'll analyze the progress made so far, the challenges faced, and the factors propelling institutional interest in crypto. We aim to provide you with a comprehensive understanding of how institutional players are increasingly exploring diverse approaches to navigate this dynamic market successfully. As we explore the nuances and complexities of these institutional approaches, we aim to provide valuable insights that can help listeners understand how institutions are shaping the future of crypto and what potential opportunities lie ahead. Join us on August 17, 17:00 UTC.
Read more »