The Democrats have found the central theme of their next electoral campaign in the economy. And they have done so using a term coined by the Republican opposition: Bidenomics. Although the conservatives devised it with the intention of denouncing to public opinion the high public spending and interventionism of the current government, the president has decided to counterattack using it both as a new slogan for his economic achievements and for his next objectives, in which the middle class will play an important role.
Job creation, investment in infrastructure, tax increases for the richest and increased support for the American product and businessman are some of the successes claimed by Biden and for which he calls for continuity. He started doing it during a recent speech in Chicago to officially present his Bidenomics and continued with a virtual meeting before the media, last Thursday, in which Anita Dunn, one of his main advisers, explained the objectives of the government’s economic policy.
election campaign
A whole declaration of intent of where the shots will go at this stage that the two main American parties are starting with a view to the primaries. There the respective representatives in the race for the White House will be decided, facing 2024. A campaign that Biden has easier for being the only candidate with possibilities of the three Democrats who, for the moment, are running for the presidency.
On the part of the Republican Party there are several aspirants to represent the party, although the final battle seems to finally be between former president Donald Trump and the current governor of Florida, Ron DeSantis. But whoever comes out of the primary representing conservatives will have to face Joe Biden for president, which has encouraged progressives to reuse the term. Bidenomics in his favor, starting his own campaign.
Goals
This is how the democrats have vindicated it through a announcement issued by the White House in which they talk about the president’s plan to “grow the economy from the middle out and from the bottom up, not from the top down.”
Intent on tackling the aftermath of previous challenges that brought the “immediate public health and economic crisis, a raging pandemic, high unemployment, tangled supply chains, and hundreds of thousands of small businesses at risk of closure,” Biden and Harris aim to put an end to some of the causes that gave rise to all this.
That is why they propose to end “those failed policies of tax reductions for rich and large corporations, the reduction of public investment in critical priorities such as infrastructure and education, and not safeguarding competition in the market,” the statement added.
three pillars
the new plan Bidenomics of the current administration, which includes approaches that have been in place for three years and others that the Democrats will have to continue to fulfill the electoral agenda, focuses on three key pillars: smart public investments in the United States, empowering and educating workers to grow the middle class and promote competition to reduce costs and help entrepreneurs and small businesses prosper.
But while Biden recalls that his project has created “more than 13 million jobsincluding almost 800,000 jobs in the manufacturing industrya, Unleashing a Clean Energy and Manufacturing Boom,” the country faces a possible recession. And although the high inflation that has hit the pockets of taxpayers has fallen for the last 11 months in a row, the Federal Reserve threatens more interest rate hikes to combat it, which will continue to affect the economy of the citizenry for years to come. a time.
Perhaps for this reason the president is aware that we must “finish the job and continue building an economy that finally works for working families, with better jobs, lower costs and more opportunities.” A phrase that serves Biden both to finish implementing the electoral agenda with which he came to the White House three years ago, and to start the electoral strategy that allows him not to have to abandon it in 2024, the date of the next elections.
