(RightWing.org) – Many presidents coin or adopt terms when they’re in office. Former President Barack Obama, for example, had Obamacare, while former Commander-in-Chief Donald Trump has MAGA. Now, President Joe Biden has “Bidenomics,” but is it really all it’s cracked up to be? According to a recent survey, many Americans say no.
What Is Bidenomics?
Simply put, Bidenomics — likely a play on Reaganomics from the 1980s — refers to Biden’s economy. Depending on who you ask, it has different connotations. While the president didn’t coin the term himself, he and his Democratic supporters have begun to adopt it. They believe it’s a reflection of the good things his administration has achieved while he’s been in office. However, others — namely Conservatives, including Senator James Lankford (R-OK) — have deemed it a negative barb in his direction.
Bidenomics means more Americans using retirement savings to pay for their bills.
Bidenomics: taxing Americans to pay for Biden’s green new deal.
— Sen. James Lankford (@SenatorLankford) July 5, 2023
Survey Says …
A recent AP-NORC Center poll surveyed 1,220 adults, with a margin of +/- 3.9%, asking questions about the state of the economy and whether Biden is doing a good job. Only 24% of those polled said the country is headed in the right direction. While it’s 10% greater than this time last year, it is still very low. When asked about whether they “approve or disapprove of the way Joe Biden is handling” the economy, 34% said they think the president is handling it well. Sixty-four percent (64%) disapproved, while 2% refused to answer.
When asked to describe the state of the US economy today, only 30% said it was either very, somewhat, or leaned toward good. The other 69% said it was very, somewhat, or leaned toward poor. Additionally, Biden’s favorability rate currently sits at 44%.
Another poll from the Pew Research Center, which surveyed 5,115 Americans, noted that “the Republican Party holds a 12-point advantage on economic policy.”
The Issues at Hand
Inflation is still the number-one issue among Americans. High prices continue to assault wallets at the gas pump, the grocery store, and even for everyday ordinary items. While inflation has rebounded significantly from the pandemic, reaching its high of 9.06% in June 2022, as of the end of May, it still sat at a whopping 4.05%.
In addition to economic troubles, the Biden Administration is still struggling in the areas of immigration at the Southern Border and overall crime.
These factors are likely to play a heavy hand in the 2024 presidential election, which is looking more and more like a rematch of 2020.
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