The White House on Monday will launch an effort to convince voters that his economic plan dubbed “Bidenomics” is working to boost the lives of middle-class voters.
As part of that strategy, President Biden and Vice President Kamala Harris will announce more than $40 billion in funding for high-speed internet projects across the country.
“The president came into office with a long-held and fundamentally different economic vision — and he was determined to turn the page on the failed trickle-down policies of the past,” senior Biden advisers Anita Dunn and Mike Donilon wrote in a memo released Monday. “Two years later, there is clear and compelling evidence that Bidenomics is both a winning economic strategy that is delivering results, and an approach that is strongly supported by the vast majority of the American people.
The average mortgage interest rate is hovering around 6.9% — the highest in a decade and a challenge for many homebuyers. Recent data shows inflation is easing, though the annual rate is still higher than when Mr. Biden took office. The memo released by the White House argues that the U.S. economic recovery is proceeding faster than the economic growth of other countries whose economies have actually shrunk, including the United Kingdom and Germany.
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