Bidenomics

[binsfeldcyhawk2]

Politically....labeling this and owning the economy is risky in my opinion. If things go south in the next 16 months every R attack ad will be using this label. Smart or stupid?

Politically stupid IMO


Move over, Reaganomics. President Joe Biden is attempting to usher in the era of “Bidenomics”

This economic theory – which rejects the idea of “trickle-down” policies in favor of focusing on the middle class – will be a centerpiece of Biden’s 2024 reelection campaign. The president will highlight the achievements he’s attributing to Bidenomics in a major speech in Chicago on Wednesday.

Trickle-down economics, which was at the heart of President Ronald Reagan’s policies and continues to be the guiding light of Republican lawmakers, typically revolves around tax cuts for the wealthy and large companies. Supporters say the benefits flow down to middle-class and working Americans, boosting economic growth more broadly. But many experts dispute this effectiveness of this practice at lifting all boats.

https://www.cnn.com/2023/06/28/politics/bidenonmics-explained/index.html

 

[Huey Grey]

Highest growth, lowest inflation compared to the rest of the main countries in the world. It's smart as shit taking credit for this.

 

[VodkaSam]

Politically....labeling this and owning the economy is risky in my opinion. If things go south in the next 16 months every R attack add will be using this label. Smart or stupid?

Politically stupid IMO

https://www.cnn.com/2023/06/28/politics/bidenonmics-explained/index.html

If they economy goes south in next 16 months or if it doesn’t, the R attack will still be there regardless of name. Might as well take credit if it goes the right way.

 

[binsfeldcyhawk2]

If they economy goes south in next 16 months or if it doesn’t, the R attack will still be there regardless of name. Might as well take credit if it goes the right way.

Fair enough.

IMO a President gets too much credit and too much blame for the economy. A lot of things out of their control....

IMO it's a risk...can't really deflect blame when you're basically owning it with something like this.

Economy remains strong it'll end up being a great move...no guarantee of that.

 

[binsfeldcyhawk2]

Highest growth, lowest inflation compared to the rest of the main countries in the world. It's smart as shit taking credit for this.

Now....what will it look like in November of 2024. Maybe wait till we're actually in 2024 to roll this out....

 

[binsfeldcyhawk2]

Highest growth, lowest inflation compared to the rest of the main countries in the world. It's smart as shit taking credit for this.

Oh...you should vote. Want to be on record calling this correctly For posterity

 

[Hawkeyenuts66]

Highest growth, lowest inflation compared to the rest of the main countries in the world. It's smart as shit taking credit for this.

Biden's economy is like a failed diet, 2021 you gain 10lbs, 2022 you gain 7.5lbs and 2023 you gain 5lbs and the left wants to claim you're losing weight.

 

[OrlandNole]

Now....what will it look like in November of 2024. Maybe wait till we're actually in 2024 to roll this out....

The Biden campaign is going all in on the economy. If the economy is soaring come election time, it will be viewed as a smart move, if the economy is stumbling along, it will be viewed as stupid.

It's a gamble.

 

[binsfeldcyhawk2]

The Biden campaign is going all in on the economy. If the economy is soaring come election time, it will be viewed as a smart move, if the economy is stumbling along, it will be viewed as stupid.

It's a gamble.

Agree...why roll the dice this early? A smarter move would have been to wait IMO.

 

[Hawk_4shur]

Fair enough.

IMO a President gets too much credit and too much blame for the economy. A lot of things out of their control....

IMO it's a risk...can't really deflect blame when you're basically owning it with something like this.

Economy remains strong it'll end up being a great move...no guarantee of that.

I agree, except I would say "most" things are out of the control of the POTUS.

POTUS, and Congress, control income taxes and business regulations. They don't control interest rates or the money supply, which IMO have a much bigger impact.

The economy is a stampeding herd of a million buffalo. You don't get to wave a magic wand and change it.

Folks care about having a job, being able to buy stuff with low interest rates and the stock market. Not much the POTUS can do about those.

 

[gamedayron01]

OP is the text book definition of stupid.

 

[OrlandNole]

Agree...why roll the dice this early? A smarter move would have been to wait IMO.

Good question. Maybe they think this gives them enough time to bury it if things start to go south?

 

[Hawk_82]

Trickle down economics do not work, so I do support getting rid of this concept. However, I don't trust Biden to implement this plan. He might decide to make all trans and black middle class, everyone else cannot be.

Regardless, I voted no, because I think the economy is going to take a big hit toward the end of 2023, so I don't it is wise to base your run on the economy when it (possibly) just tanked under biden.

 

[hawkeye54545]

I think in politics regardless of party you take credit for everything and never accept blame.

 

[thewop]

If they economy goes south in next 16 months or if it doesn’t, the R attack will still be there regardless of name. Might as well take credit if it goes the right way.

Yep, there was a clear downturn after Biden took office, and Rs will exploit that regardless. There are a few signs that things are settling back down so hes got the right idea. Politicians have less to do with the economy than they get credit for (positive and negative), but in this case an upturn might be his only "accomplishment" to hang his hat on come 2024.

If the economy turns down, he'll only have "I'm not an evil republican" (Or better, I'm not Trump) again, which could still work.

 

[hawkjt]

Clearly the numbers indicate that Biden's economy is better than any in the G-7 in the post-pandemic period.
His approval rating on the economy is poor so obviously the facts are not breaking thru to independent voters.
They have got to chip away at this misconception.
Does not happen overnite.
Grab lightning in the bottle while numbers are good.
If we do suffer setbacks with a mild recession in 4th qtr 23 or 1st qtr 24 explain why then.
Research does indicate voters minds are made up 6 months ahead of the election...so times-a-wasting.

 

[DFSNOLE]

Clearly the numbers indicate that Biden's economy is better than any in the G-7 in the post-pandemic period.
His approval rating on the economy is poor so obviously the facts are not breaking thru to independent voters.
They have got to chip away at this misconception.
Does not happen overnite.
Grab lightning in the bottle while numbers are good.
If we do suffer setbacks with a mild recession in 4th qtr 23 or 1st qtr 24 explain why then.
Research does indicate voters minds are made up 6 months ahead of the election...so times-a-wasting.

While I agree with the sentiment, naming it now may not prove to be the best strategy. One thing is certain, the GOP is much better at messaging than the Dems.

 

[Finance85]

Highest growth, lowest inflation compared to the rest of the main countries in the world. It's smart as shit taking credit for this.

You're delusional.

 

[BioHawk]

Fair enough.

IMO a President gets too much credit and too much blame for the economy. A lot of things out of their control....

IMO it's a risk...can't really deflect blame when you're basically owning it with something like this.

Economy remains strong it'll end up being a great move...no guarantee of that.

I agree with this, for the most part. However, we are clearly seeing benefits from the economic packages the Biden administration got passed in his first two years. Those have set the stage to make this recovery possible. They have also done it without blowing a trillion dollar huge hole in the budget the way Republican economic packages always do. (Well, only Trumps blew the deficit up by a trillion dollars but every new one they pass makes a bigger budget shortfall).

So, no, the President doesn't get credit for daily monitoring and manipulation of the economy and there certainly are factors they can not control that have direct impacts on it, but their overall economic policies do have a large impact on the situation.

 

[BioHawk]

You're delusional.

What's he delusional about? That we have the highest growth and lowest inflation of all the G7 nations or that those mean our economy has been well managed?

 

[Huey Grey]

You're delusional.

You're just mad that Biden is a Dem. If a R was doing this you would be singing to the rafters about how great he is.

 

[torbee]

You're delusional.

Those are facts.

 

[Titanhawk2]

Bidenomics - when you have to invent what you think is going on

 

[Hoosierhawkeye]

Fair enough.

IMO a President gets too much credit and too much blame for the economy. A lot of things out of their control....

IMO it's a risk...can't really deflect blame when you're basically owning it with something like this.

Economy remains strong it'll end up being a great move...no guarantee of that.

I agree with you but I think the general impression is that president's actions have a great deal of control of the economy so you might as well lean into it when things are going good.

Because look you arn't even going to get elected much less re-elected if you tell people the truth that your actions have very little effect on the economy. It's weird because it's for the most part the truth but not very many people believe it.

 

[ironside1]

Agree...why roll the dice this early? A smarter move would have been to wait IMO.

It is his economy regardless. Doesn’t matter what he says. If it goes good this is a win. If it goes bad nothing changes.

 

[binsfeldcyhawk2]

It is his economy regardless. Doesn’t matter what he says. If it goes good this is a win. If it goes bad nothing changes.

Except the R's get a great catch phrase that the administration provided.

Just ironic that they pattern this after the much derided "Reaganomics".

Pretty weird honestly...

 

[MR BEEBS]

OP is the text book definition of stupid.

I’m sure Bins is a lot of things to a lot of people, but definitely not stupid. I don’t agree with him on everything, but he is generally levelheaded. I appreciate his commentary, including this discussion. Lots of opinions regarding this topic already. I agree with a few posters above… it’s a gamble. If Trump is ultimately the R nominee, it may not matter one bit.

 

[ironside1]

Except the R's get a great catch phrase that the administration provided.

Just ironic that they pattern this after the much derided "Reaganomics".

Pretty weird honestly...

Yeah, it isn’t anything new. I’m sure every president in their 4 or 8 years in office say something regarding how it is their economy.

 

[joelbc1]

Fair enough.

IMO a President gets too much credit and too much blame for the economy. A lot of things out of their control....

IMO it's a risk...can't really deflect blame when you're basically owning it with something like this.

Economy remains strong it'll end up being a great move...no guarantee of that.

So bins....IF the economy goes South soon, do you think the GOP would accept part of the blame? Repubbers stimulate the economy by allowing the rich to thrive Nd maybe pull the rest of us up....Biden’s idea is to pump up the middle class...as a rising tide lifts all boats.
President Clinton told us all 30 years ago the “trickle down does NOT work.” Bill seemingly was always right.

 

[binsfeldcyhawk2]

So bins....IF the economy goes South soon, do you think the GOP would accept part of the blame? Repubbers stimulate the economy by allowing the rich to thrive Nd maybe pull the rest of us up....Biden’s idea is to pump up the middle class...as a rising tide lifts all boats.
President Clinton told us all 30 years ago the “trickle down does NOT work.” Bill seemingly was always right.

Definitely not.

Just arguing coining "Bidenomics" will be a pretty stupid self own if the economy tanks.

Joe would get blamed regardless by R's....just think throwing this out there now provides more ammunition if things head south.

 

[NDallasRuss]

I don't think it matters at this point. Very few people are flipping their vote as long as it's trump vs biden. You'd either never vote for trump, or you'd never vote for biden.

Biden could pull a dozen babies out of a burning orphanage and the other side would just question what he was doing at an orphanage. He can take credit for whatever he wants. Most people won't even recognize (or care) that the impacts of economic decisions - good or bad - are rarely immediate and might not be seen/felt for years.

 

[timinatoria]

OP is the text book definition of stupid.

Textbook is one word.

 

[Tom Paris]

Oh...you should vote. Want to be on record calling this correctly For posterity

Oh…it’s a “gotcha” poll.

 

[binsfeldcyhawk2]

Oh…it’s a “gotcha” poll.

How so?

 

[Obviously Oblivious]

Yep, there was a clear downturn after Biden took office, and Rs will exploit that regardless. There are a few signs that things are settling back down so hes got the right idea. Politicians have less to do with the economy than they get credit for (positive and negative), but in this case an upturn might be his only "accomplishment" to hang his hat on come 2024.

If the economy turns down, he'll only have "I'm not an evil republican" (Or better, I'm not Trump) again, which could still work.

By what measure do you assert that the US economy had a clear downturn after Biden took office? I'm not seeing it. It certainly isn't seen in the GDP growth during his term which is the most common measuring stick. US GDP growth from January 2021 to April 2023 was over 20% overall.

 

[Chishawk1425]

 

[BustingNarratives]

It’s a tough sell. Joe needs to go to a grocery store with a middle income Mother and get a dose of reality.

https://apnews.com/article/biden-poll-economy-survey-jobs-inflation-b3c77cb208f96f9b039cf48cbc4fb67b

 

[JRHawk2003]

Biden's economy is like a failed diet, 2021 you gain 10lbs, 2022 you gain 7.5lbs and 2023 you gain 5lbs and the left wants to claim you're losing weight.

The right is the master of short cut diets with their tax cuts.

The last 3 Republican Presidents are Bush I, II and Trump...Lol...2 of them got elected by a minority of votes.

One ended in recession, the 2nd basically had a near financial collapse...and them Trump...

Lol...Your party cant govern itself out of a paper bag.

 

[Hawkeyenuts66]

The right is the master of short cut diets with their tax cuts.

The last 3 Republican Presidents are Bush I, II and Trump...Lol...2 of them got elected by a minority of votes.

One ended in recession, the 2nd basically had a near financial collapse...and them Trump...

Lol...Your party cant govern itself out of a paper bag.

You're quite the Biden mouthpiece.

 

[JRHawk2003]

You're quite the Biden mouthpiece.

Try presenting a viable alternative.