"In the summer of 2023, as he geared up his ill-fated race for reelection, Biden mounted a campaign to convince the public that his policies had delivered the economy and American workers from the depths of the pandemic to renewed prosperity. "Our plan is working-Bidenomics," the president declared during a rally at the Philly Shipyard. Biden had some legitimate claims. An impressive 13 million jobs had been created on his watch, and growth was relatively strong."
"Inflation spiked as the pandemic waned, fueled by pent-up demand and exacerbated by the massive stimulus program that Biden had enacted during the COVID crisis. Americans now felt a cost-of-living crisis. The day that Biden spoke to shipyard workers in Philadelphia, the cost of goods was about 17 percent higher than when he had entered office; it would rise to 21 percent by the end of his term. In polls, Americans consistently listed the economy and inflation as their top concerns."
Donald Trump recaptured the White House in part by exploiting public concerns about rising living costs, and now he and his party deny the economic realities facing working families. In summer 2023, Biden campaigned on "Bidenomics," claiming recovery and renewed prosperity after the pandemic. Thirteen million jobs were created and wages began to rise, but inflation surged as the pandemic waned, driven by pent-up demand and a large COVID stimulus. Consumer prices were about 17 percent higher by mid-2023 and reached 21 percent by term end. Many Americans listed the economy and inflation as their top concerns, while the president emphasized gradual monthly improvement instead of fully acknowledging public pain.
Read at The Atlantic
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