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Star Parker

Founder & President, Center for Urban Renewal and Education

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‘Bidenomics’ shouldn’t get any credit for good economic news

Aug 11, 2023

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Core inflation is cooling. Job growth is up, business investment is rising. There’s good economic news out there but the question is: Who gets the credit? President Biden is pointing to “Bidenomics” — his strategy of growing the economy “from the middle out and bottom up,” a departure from President Reagan’s “trickle-down” economics.

Republicans like Straight Arrow News contributor Star Parker think that Biden is taking credit for positive economic news when the actions of House Republicans and former President Trump really set things in motion.

Biden spent and spent and spent, like a drunken sailor, during the first two years of his presidency. He wanted to even spend more, and like his predecessors before him — Clinton and Obama — Biden will champion the success of “Bidenomics.” He keeps calling it “Bidenomics.”

And yet it’s not “Bidenomics. It’s with Republicans in charge of the House, things have begun to slow down and get in order, according to the Constitution — just like how it was the actions of President Trump and the Republican Congress that set things forth to lower the deficit is on the shoulder of Republicans to do everything they can to lower inflation and to bolster the economy. 

The red states are working, and that’s what’s making Biden look good right now. House Republicans are now fighting to reduce federal spending and extract a commitment from Biden to reduce spending by more than $2 trillion. But he’s out there lying and so the people get confused and think that no, Republicans are just trying to throw people over the cliff and Republicans are the bad guys. No, actually they’re watching out for your pocket.

Biden will surely take the credit or try to take the credit, nonetheless, but we can’t afford to let him have his way. We literally cannot afford what Biden has in store for our economy or for our lives.

President Biden has continued to brag that Bidenomics is working. This would almost be laughable if it wasn’t so sad. It’s sad because most hardworking Americans would not echo the sentiments of their own president. If you were to ask them if Bidenomics has been working these last two and a half years, if their lives are getting better, the answer would be no. We know this because every month numerous polling agencies ask thousands of Americans what they think, and the result, on average, only 38% of Americans approve of Biden when it comes to the economy. Even though Biden has had the audacity to blatantly lie again and again, the experience and the reality of everyday life for most Americans has pointed us to the truth. This is despite the fact that, for example, Biden has been saying that he lowered the deficit, even CNN debunked this claim. 

 

According to the nonpartisan Congressional Budget Office, the deficit would be lower than it is now, if Biden had just walked in office and just not done anything. Bidenomics caused a senior official from the Committee for a Responsible Budget to say that Biden’s claims are almost bizarro world. And yet, President Biden will not only keep pumping these alternative facts, but he also blamed Republicans for his failures. He keeps saying that policies from Republicans hurt the working class, that they’re hurting businesses. Biden even has been claiming that he’s fiscally responsible, and the Republicans are not. 

 

Mr. President, it’s conservatives who are dedicated to reducing federal spending and putting more tax dollars back in the pockets of hardworking Americans. History proves this to be true. However, history has also shown a knack for Democrats, for their presidents to try to take credit for free markets when they’re working, and the successes of Republicans, because free markets work. 

 

The most notable case of this demand of Democrats that they’re the ones that are doing all the good stuff was when the Contract with America election of 1994 occurred that led to Republicans gaining control of Congress. The politics and the policies that Republicans produced and pushed Clinton to sign ended up helping our economy boom and produce four years of budget surpluses of success that Clinton was all too excited to try to take credit for. 

 

Democrats took a beating during the Obama administration 2010 midterm elections, Republicans took the house, a grassroots effort by the Tea Party was underway, and the house led then by John Boehner forced a limit on spending over the next two years. Obama would go on to win reelection in 2012 because Americans felt good because they actually thought he had something to do with why they felt good. 

 

Biden spent and spent and spent, like a drunken sailor, during the first two years of his presidency. He wanted to even spend more. And like his predecessors before him, Clinton and Obama, Biden will champion the success of Bidenomics, he keeps calling it Bidenomics. And yet it’s not Bidenomics, it’s with Republicans in charge of the house, things have begin to slow down and get an order, according to the Constitution, just like how it was the actions of President Trump and the Republican Congress that set things forth to lower the deficit is on the shoulder of Republicans to do everything they can to lower inflation and to bolster the economy. 

 

The red states are working, and that’s what’s making Biden look good right now. House Republicans are now fighting to reduce federal spending and extract a commitment from Biden to reduce spending by more than $2 trillion. But he’s out there lying and so the people get confused and think that no, Republicans are just trying to throw people over the cliff and Republicans are the bad guys. No, actually they’re watching out for your pocket. Biden will surely take the credit or try to take the credit nonetheless, but we can’t afford to let him have his way. We literally cannot afford what Biden has in store for our economy or for our lives.

 

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