President Joe Biden on Thursday delivered what the White House billed as a “major economic address on Bidenomics vs. MAGAnomics,” with the speech coming as polls show most Americans disapprove of his handling of the U.S. economy.
“They keep telling us America’s failing. Well, they’re wrong. They’re failing,” the president said. He attacked Republican tax plans for favoring wealthy Americans and corporations, and defended Social Security and Medicare. A divided Washington looks on track to deliver a partial government shutdown after Sept. 30, when the federal government’s new fiscal year starts. Analysts at Height Capital Markets on Thursday raised their probability for a shutdown to 90% from 80%, citing demands from the House Freedom Caucus, a hardline GOP group, that look “un-meetable.”“They’re turning their backs on the bipartisan budget deal Speaker [Kevin] McCarthy made with me just a few months ago,” Biden said.
Other polls have had similar findings, with one from the Wall Street Journal revealing that three in five voters disapprove of Biden’s handling of the economy, while 63% don’t like how he has handled inflation.Charlie Cook, founder of the nonpartisan Cook Political Report, said in a National Journal column earlier this week that it’s “hard to look at recent survey data and not question whether his re-election bid really is such a good idea.
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