For millions, ‘Bidenomics’ is a painful joke. Joe Biden loves it
Byron York
FOR MILLIONS, ‘BIDENOMICS’ IS A PAINFUL JOKE. JOE BIDEN LOVES IT. If you look up the word “Bidenomics” on the White House website, you’ll find example after example of President Joe Biden praising the group of economic policies named after him. But now, there are reports the president’s embrace of the term Bidenomics might be backfiring.
The word actually came from the media, and it wasn’t a compliment. On June 8, the Wall Street Journal published an analysis of what Biden national security adviser Jake Sullivan called “a modern American industrial strategy,” defined as an economy, under Biden, in which “a more assertive federal government guides investment, industry, and trade.” Some of Biden’s critics, and opponents of that strategy, adopted the term to use against him.
Biden didn’t like it. On June 28, a reporter noted that Biden had earlier said he didn’t know “what the hell Bidenomics is.” But the questioner then suggested that the White House was “branding” the president’s policies under the word Bidenomics. “Look, you guys branded it, I didn’t,” Biden snapped. “I never called it ‘Bidenomics.’ … Let’s get it straight. The first time it was used was in the Wall Street Journal, OK? I don’t go around beating my chest, ‘Bidenomics.’ So the press started calling it ‘Bidenomics.'”
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A short time later, though, Biden changed his mind. Bidenomics became a good word. On July 6, Biden traveled to Columbia, South Carolina, and delivered an entire speech devoted to his new favorite phrase. “Bidenomics is just another way of saying ‘restoring the American dream,'” Biden said. Among other things, Biden continued, “the pay for low-wage workers has grown at the fastest pace in two decades — and folks, it’s no accident. It’s Bidenomics in action.”
From then on, the president started using Bidenomics frequently to claim credit for what he said were great economic improvements resulting from his policies. There was only one problem. Majorities of voters are very unhappy about the economy now. They are suffering from high prices and diminished purchasing power, and they don’t want to hear the president telling them how great things are as a result of Bidenomics.
Just look at the recent Washington Post-ABC News poll, which found that Biden’s rating for his handling of the economy is at a “career low.” Just 30% approve, while 64% disapprove. For starters, the price of food is a disaster — 91% view it negatively. The price of gas and energy is almost as bad — 87% view it negatively. And then there is the bigger problem of workers’ incomes — 75% view that negatively.
Short version: People are not happy. And when they hear the president heaping praise on “Bidenomics” — well, they don’t react well.
“Several top Biden allies have privately raised concerns about the phrase to the White House,” Politico reported. “Rep. Steven Horsford, who chairs the Congressional Black Caucus, said in an interview this week that he has warned the White House that the Bidenomics brand is built on shaky ground.”
More from Politico: “Their worries are underscored by a slew of polling showing that the economic recovery the White House has sought to spotlight as a triumph is not making a dent in the public’s psyche. Most Americans are still skeptical that U.S. is in an upturn, let alone one resilient enough to last much longer.” It does not take a rocket scientist to figure that one out. Read a few polls, go to the grocery store, and you’ve got it.
Other than Biden’s age, this is the president’s biggest political vulnerability going into 2024. And it’s an obvious opportunity for Republican candidates to pound him mercilessly. Certainly his chief rival, former President Donald Trump, sees a big, fat target called “Bidenomics.”
In a recent campaign stop in Summerville, South Carolina, Trump mocked the president for giving his name to bad economic times. “We’re going to end the economic catastrophe known as Bidenomics,” Trump told the crowd. “You know, he thought that was good, but it was meant to be bad. It was originally done in the financial pages to talk about how bad it was, and he said, Oh, I love the name, I love the name. So now he goes around and he talks about it like it’s good. It’s really bad.” In his speech, Trump listed a number of steps he would take “to rescue our workers, manufacturers, and small businesses from the burning wreckage of Bidenomics.”
That’s just Politics 101 — focus relentlessly on your opponent’s weakness. And don’t forget to mock, too, especially when the target is a vainglorious term like Bidenomics. And that makes it a little mysterious that the other Republican candidates did not make their recent debate an opportunity to bash the president over Bidenomics. In fact, just two candidates ever uttered the word during the debate.
Gov. Ron DeSantis (R-FL) said, “People are hurting out there. So we’ve got to address the underlying problem, with Bidenomics, the overspending. Taking all of Biden’s rules and regulations, I’m going to throw them in the trash can on day one.” Then former Vice President Mike Pence said, “I’ve got to tell you, while the union bosses are talking about class warfare and talking about disparity in wages, I really believe what’s driving that is Bidenomics has failed. Wages are not keeping up with inflation.”
That was it. Vivek Ramaswamy, Nikki Haley, Tim Scott, Chris Christie, Doug Burgum — all were critical of Biden, of course, but none took the opportunity to throw Bidenomics in the president’s face. That borders on political malpractice.
What now? Will Biden continue to put his name proudly on a set of policies that have meant economic woes for millions of people? Will Trump, and perhaps his fellow Republicans, too, turn Bidenomics into both an object of ridicule and a mark of shame? Will Biden get the message and back away from his own name? It could be that in a few months, the president and his staff will be acting like they never said the word.
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