The president compares Bidenomics against what he called the Republican economic plan ‘MAGAnomics.’
President Joe Biden defended his economic agenda, known as Bidenomics, in a speech in Maryland on Sept. 14, despite a series of recent troubling developments, including the indictment of his son Hunter Biden on gun-related charges and an impeachment investigation into his role in his son’s business dealings.
The president is also facing growing public discontent with his handling of the U.S. economy.
During his remarks at Prince George’s Community College in Largo, President Biden for the first time compared Bidenomics against what he called the Republican economic plan “MAGAnomics.”
“I’m the only president who hands out the opposition’s economic plan,” President Biden joked while holding up a book he claimed to be the Republican economic plan.
“America has the strongest economy in the world of all major economies. But all they do is attack it,” the president said, referring to Republicans.
President Biden went on to say that the voters should be aware of the facts. He claimed that the Republican plan will hurt the middle class by cutting the social safety net programs.
“They should know the choice between Bidenomics and MAGAnomics,” he said.
Just a few hours before the president’s scheduled speech in Largo, federal prosecutors announced the indictment of Hunter Biden on gun-related charges. According to court documents, Hunter Biden was formally indicted in a Delaware federal court on Sept. 14, facing three counts related to possessing a firearm while using drugs.
The White House declined to comment on the indictment, instead referred questions to the Department of Justice and Hunter Biden’s attorneys.
The indictment comes after Speaker Kevin McCarthy (R-Calif.) announced on Sept. 12 that the House of Representatives would open an impeachment inquiry to investigate the possible involvement of President Biden in the business dealings of his son while he served as vice president under Barack Obama.
White House spokesperson for oversight and investigations, Ian Sims, called the move “extreme politics at its worst.”
The Biden officials, however, seek to downplay the Republicans’ impeachment effort. They want the American people to see that the president is concentrating on his work rather than letting the impeachment distract him.
President Biden also ignored shouted questions from reporters yesterday. He did, however, break his silence Wednesday night at a campaign reception in McLean, Virginia.
“Everybody always asks about impeachment. I get up every day—not a joke—not focused on impeachment,” President Biden said. “I’ve got a job to do. I’ve got to deal with the issues that affect the American people every single solitary day.”
During his speech in Largo, President Biden tried to persuade Americans that his agenda is working and is superior to the Republican plan.
He stated that Republicans have given the country a “failed plan of trickle-down economics.”
He criticized former President Donald Trump, the Republican primary frontrunner in 2024, for passing tax reform in 2017, referring to him as the “emperor of debt.”
“Remember the self-professed king of debt,” the president said, drawing laughter from the audience. “He’s actually the emperor of debt. He created more debt than any other president in one year.”
He reiterated that the 45th president was one of two presidents, along with Herbert Hoover, whose terms saw a decline in the number of employment in the country.
However, some claim that President Biden is falsely criticizing his predecessor and neglecting to take into account the pandemic-related shutdowns in 2020, which caused millions to lose their jobs.
Public polls also challenge President Biden’s assertion that his economic plan is working.
Biden vs Trump
Numerous polls demonstrate that the majority of Americans are unhappy with Biden’s handling of the economy.
A recent CNN poll also showed that a large percentage of voters are concerned about President Biden’s age. In addition, the poll revealed that the most Republican primary candidates fared well in hypothetical general election match-ups with President Biden.
The annual inflation rate in the United States rose to 3.7 percent in August from 3.2 percent the previous month, dashing hopes for lower inflation.
A significant increase in energy prices, with gasoline surging by 10.6 percent and fuel oil rising by 9.1 percent month over month, was the primary factor in the reacceleration of inflation.
President Biden vowed to lower gas prices during his speech in Largo.
“We have a lot more to do, though. And I’m going to get those gas prices down again. I promise you,” he said.
President Biden ended his somewhat longer-than-30-minute speech by warning that U.S. democracy is at risk.
“Our democracy is under attack, and we’ve got to fight for it,” he said.
It’s unclear how the impeachment inquiry would impact President Biden’s approval ratings in the coming months, but according to the CNN poll, Americans believe President Biden was involved in his son’s business dealings with Ukraine and China.
A majority, 61 percent, believe Biden had some participation in Hunter Biden’s business dealings, with 42 percent stating he acted illegally and 18 percent saying his actions were unethical but not illegal.