Editors Online Blog

Biden Unveils “Bidenomics” Label To Contrast His Economic Plan to GOP’s

Here are comments made on Air Force One to the press en route to Chicago today by Principal Deputy Press Secretary Olivia Dalton:

     “The President will make the case for Bidenomics, his plan to grow the economy from the middle out and the bottom up, a fundamental break with trickle-down economics, which fail- — failed the middle class. 
      President Biden believes that the best way to grow the economy is to grow the middle class, and his plan is working.  We’ve had — we’ve had the most — the strongest economic growth and the lowest current inflation of any peer country.  We’ve added 13 million jobs, a record-setting 10 million small-business applications, and inflation is down by half. 
As the President will explain, Bidenomics has three key pillars:
      First, making smart investments in America, like rebuilding America’s crumbling infrastructure; making more semiconductors, batteries, electric cars, and clean energy here at home; and powering a resurgence in American manufacturing. 
      Second, educating and empowering workers.  Real incomes and household net worth are up since the President took office, and pay for low-wage workers has grown at the fastest pace in over two decades.  We’re ensuring workers can get the education and training they need to get good-paying jobs, and we’re making it easier to join a union. 
       Third, we’re promoting small — we’re promoting competition to lower costs and help small businesses.  That includes proposing a rule to ban noncompete agreements, fighting to end junk fees, and providing support and capital to small businesses. 
       Bidenomics is proving that we can invest in the American people while reducing the deficit, which fell a record $1.7 trillion in the President’s first two years in office. 
       The President has signed laws to cut the deficit an additional $1 trillion.  He beat Big Pharma to give Medicare the power to negotiate prescription drug prices and cap insulin at $35.  And his plan cuts the deficit even more by making billionaires and special interests like Big Oil pay their fair share. 
       Bidenomics is about the future, but it’s rooted in what always has worked best in our country.  When we invest in our people and strengthen the middle class, we can see economic growth that benefits all Americans. —