What comes into your mind when you here the new term describing our economy under the leadership of President Biden – Bidenomics?
A new poll shows the majority of the American people sum up the state of the economy in one or two words: “Struggling” and “Uncertain.”
There is a CBS News/YouGov poll taken June 26 – June 28 that surveyed more than 2,000 U.S. adults. Sixty-one percent of Americans said the word “struggling” described the economy, 56% said “uncertain,” 36% said “unfair,” 27% said “punishing.” Meanwhile, just 15% said it could be described as “rebounding,” and 11% said it could be described as “expanding.”
Since President Biden took office, the United States has experienced its highest inflation in decades. The Consumer Price Index (CPI) rose 8.6% in May 2022, the highest rate since 1981. This has led to higher prices for everything from food to gas to housing.
In addition, President Biden has proposed a number of tax increases, including raising the corporate tax rate from 21% to 28% and increasing the top marginal income tax rate from 37% to 39.6%. These tax increases would disproportionately impact businesses and high-income earners.
It is no wonder that when people hear “Bidenomics,” they think of higher inflation and tax increases. These are the two most tangible consequences of the President’s economic policies.
The poll also revealed that 70% of U.S. adults say that their salary is not keeping up with inflation. And 65% said they would rate the U.S. economy as very bad. Fifty-eight percent say that it’s getting worse.
And people like Nancy Pelosi have said in recent weeks that the American people simply don’t know how much Biden has done for them as president.
“It has to be messaged,” Pelosi said of Biden’s alleged accomplishments. “He just has to get out there,” she added. ” It’s a busy job being president, I can say that as being speaker. You’re doing your work, but he’s just going to have to make sure the American people know at that kitchen table what this means to them.”
🚨 NEW CBS POLL – BIDENOMICS IS A FLOP
Democrats excel at vapid slogans. Their latest cringe-worthy gem, #Bidenomics, is bombing.
1. 60% haven't even heard of it.
2. Of those who have heard of Bidenomics, 50% associate it with inflation and tax increases.
3. Biden's… pic.twitter.com/x4lHrEIgq2
— Peter Daou (@peterdaou) July 30, 2023