Biden touts 'Bidenomics' despite terrible poll numbers on the economy
Biden blames his economic woes on '40 years of Republican trickle-down' policies
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President Biden touted his "Bidenomics" policies despite polls showing that Americans have very little confidence in his ability to steer the U.S. economy on Wednesday.
As of late May, some 83% of voters say the economy is in only fair or poor shape. That stat is worse by 14 points than when Biden first entered office in April 2021, when just 69% thought the same. Critically, just 20% of Americans say they believe Biden's policies are helping them.
Nevertheless, Biden assumed a confident tone during an economic address in Chicago on Wednesday, blaming conservatives for "40 years of Republican trickle-down economics that helped few, but hurt the middle class."
"It's going to take some time," Biden said. "I'm not here to declare victory on the economy. I'm here to say, we have a plan that is turning things around incredibly quickly. We have more work to do."
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President Biden mocked former President Trump for never getting around to implementing the "infrastructure week" he had talked about so often as president. (Donald Trump and Joe Biden / Fox News)
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"When I took office, the pandemic was raging and our economy was reeling. Supply chains are broken, millions of people unemployed, hundreds of thousands of small businesses on the verge of closing after so many had already closed. Literally hundreds of thousands on the verge of closing. Today, the US has the highest economic growth rate, leading the world economy since the pandemic, the highest in the world," he added.
Biden said the turnaround was "no accident" and chalked it up to "Bidenomics in action."
U.S. President Joe Biden's handling of the economy is among the least popular parts of his administration, and he's now trying to rebrand with "Bidenomics." (Fox News / Fox News)
"Bidenomics is just another way of saying restore the American dream because it worked before. It's rooted in what we've always worked best at in this country, investing in America, investing in Americans. Because when we invest in our people, we strengthen the middle class," Biden said.
Biden went on to claim he has created more jobs in two years than any other president has in their four-year term.
The president's Twitter account previewed the claim in a post earlier Wednesday that led to widespread backlash from users pointing out that a huge portion of the job creation during Biden’s term was the return of jobs lost to coronavirus lockdown measures.
Preisdent Biden is working to shore up his economic favorability rating in the face of a showdown with former President Trump. (Anna Moneymaker/Getty Images / Getty Images)
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As of late May, 42% of Americans approved of Biden’s overall job performance, while 58% disapproved. That was down from 44% and 55% in April and the lowest since August 2022, when it was also 42% and 58%. His worst was 40% and 59% in July 2022.
Fox News' Dana Blanton contributed to this report.