Remember Bidenomics? Democrats Want to Forget It, Too

“Your search – site:https//kamalaharris.com/ bidenomics – did not match any documents.”

For three years—between January 2021 and January 2024—Democrats trumpeted the so-called benefits of their economic policy, “Bidenomics.” And then they finally got the memo; Americans were not buying it. A Google search of the Kamala Harris website for the word “Bidenomics” now fails to produce any results.

“Your search – site:https//kamalaharris.com/ bidenomics – did not match any documents.”

A DNC website search for references to Bidenomics goes cold after January of this year.

“Your search – site:https://democrats.org/ bidenomics – did not match any documents.”

In July, Gallup’s Economic Confidence Index found that 46% of Americans described the current U.S. economic conditions as “poor.” Poor has been the dominant response for the 29th straight month. While Gallup’s Economic Confidence Index showed some improvement between November and March, it has slid back to where it was in December 2023. During President Joe Biden’s term, confidence slumped to as low as -58 in June 2022 amid soaring inflation. These results are the public lowest since the Great Recession in 2008 and early 2009.[i]

The Democratic cheerleaders at the New York Times have had to acknowledge the public’s distaste. Reporting on the results of their own polling last November, their story carried the headline: “Voters Aren’t Believing in Bidenomics.”[ii]

At about the same time, NBC News reported: “No one seems to like “Bidenomics,” the eponymous shorthand for Joe Biden’s economic policies — not voters, not Democratic officials, not even, at times, the president himself. In a September focus group with Pennsylvania swing voters, one participant told the research firm Engagious that the concept was a “jumbled mess,” adding that “it’s really hard to explain.”

“The trouble is, people aren’t buying it.”[iii] 

The public’s reaction is easy to understand. Bidenomics has been disastrous, producing the worst inflation rate in 40 years, the highest deficit in American history, and an economy where the average Americans’ real wages are declining rather than improving. Our economy has also struggled to return to the booming pre-pandemic employment levels.

Due to Bidenomics, Americans are now paying the most for groceries, household items, fuel, homes, and just about everything they have in 40 years. Indeed, since President Biden took office, prices of everything have risen by an average of 20 percent. These policies have cost the average American family $10,000 a year. 

The Biden-Harris and Congressional Democrats’ “Spend Now, Pay Later” strategy has led to record-high inflation and an unsustainable $10 trillion increase in the 10-year spending trajectory. The U.S. Federal Reserve has been forced to raise interest rates to cool inflation. This is worsening the deficit due to the increased cost of paying interest on the debt. Higher interest rates also make home mortgages more expensive and could even lead to a recession.

Curiously, the AP reports on Kamala Harris that: “Not once in speeches in Wisconsin, Indiana or Texas did she mention the word “inflation” — the overwhelming economic challenge that has dogged Biden’s administration and forced him in remarks to consistently acknowledge voters’ pain as they cope with higher grocery, gasoline, housing and auto expenses.” [iv]

Harris’s avoidance of talking about inflation and the Democrats’ scrubbing of “Bidenomics” from their lexicon raise a question: Do they have any new economic policies or just more of the same failed ones?

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[i] https://news.gallup.com/poll/647846/low-economic-confidence-steady.aspx

[ii] https://www.nytimes.com/2023/11/06/business/dealbook/biden-economy-trump-2024.html

[iii]   https://www.nbcnews.com/politics/2024-election/bidenomics-rcna122865

[iv] https://apnews.com/article/kamala-harris-economy-trump-vance-inflation-biden-f52edb07e4bd4adf01b484744fc7d387

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