White House Touts 'Bidenomics' as Voters Trash Economy

CHICAGO, ILLINOIS - JUNE 28: U.S. President Joe Biden unveils his economic plan during an event in the lobby of the old post office building on June 28, 2023 in Chicago, Illinois. He is also scheduled to attend a fundraising event during the visit. (Photo by Scott Olson/Getty Images)
June 28, 2023

The White House on Wednesday touted "Bidenomics" as a winning issue for President Joe Biden, despite polls showing Americans are not satisfied with the economy.

"Today, the U.S. has had the highest economic growth among the world’s leading economies since the pandemic," Biden said during a speech in Chicago on his economic policies. "We’ve added over 13 million jobs, more jobs in two years than any president has added in a four-year term.​ And folks, that’s no accident. That’s Bidenomics in action."

Biden said "Bidenomics," which he hopes will resonate with voters ahead of his reelection bid next year, is about "building the economy from the middle out and bottom up."

The White House in a fact sheet Wednesday said "Bidenomics" is "already delivering for the American people."

Despite the administration's focus on Biden's supposed economic success, several recent polls show voters aren't on the same page.

The number of Americans who think they'll have a comfortable retirement hit its lowest point since 2012 last month. Also in May, Gallup reported that fewer Americans think it's a good time to buy a house than at any time since it began asking the question in 1978.

An April CNBC poll found that 70 percent of Americans "admit to being stressed about their personal finances these days." The majority of Americans blame inflation for their woes.

The economy is hitting businesses, too. A poll last month revealed that 6 out of 10 small business owners are worried that Biden's inflationary economy could force them to close their businesses.

The poll, commissioned by the Job Creators Network Foundation in April, found that 59 percent of business owners said they're "concerned" that economic conditions under the Biden administration could force them to close, and 70 percent said they expect the nation's small business climate to remain the same or worsen.

Most Americans began the year predicting 2023 would bring more economic difficulties. Eight in 10 respondents predicted taxes would increase along with the federal deficit.

Published under: Joe Biden