“When I participated in the presidential race, I came to office determined to change the economic direction of this country,” said the president of the United States, Joe Biden, during a public act that is part of his campaign to be re-elected as national president in 2024.
During said event (which took place in Chicago), Biden tried, according to The New York Times portal, to take some credit for the economic policies of the United States, which, in his opinion, have meant a break with respect to to Republican policies, which “have failed America’s middle class for decades.”
Biden explained how Republican economic policies “had failed America” since about 1980, during the tenure of then-President Ronald Reagan. Specifically, she referred to the “low tax burden” imposed on the upper class.
This economic policy, in Biden’s opinion, “failed America, skyrocketed the deficit, increased inequality, and weakened our infrastructure. It took away the dignity, pride and hope of every one of our communities.”
Likewise, Biden took the opportunity to take credit for his manufacturing revitalization policy, by involving the government in investments in key industries.
On the other hand, he insisted that public spending on programs such as student loan forgiveness will allow people to access a more comfortable middle-class life.
Despite this, the assessment of Biden’s economic management continues to decline.
According to a poll conducted by the Associated Press Center for Public Affairs Research, only 33% of American adults approved of Biden’s economic management.
Similarly, only 24% of American adults say the national economy is in good shape.
On the other hand, the debt of the Americans reached record levels, according to data from the Federal Reserve, an institution that indicated that the national debt is located at approximately $17 trillion dollars.
And, of course, one of the most difficult economic data for the Biden administration to deal with is inflation, which in June of last year hit its highest level in 40 years. However, it has gradually receded in recent months.
These data contrast with other economic indicators recorded during the Biden administration, such as an extremely low unemployment rate (3.7%).
Keep reading:
– Robert F. Kennedy Jr.: The Democrat praised by Donald Trump who could make it difficult for Joe Biden to win the primaries
– The popularity of President Joe Biden reached its highest point since August 2022, according to a Gallup poll
– Joe Biden expresses love for his son Hunter Biden after being indicted on federal charges