Letter: The Issue with ‘Bidenomics’

Dear Editor,

Joe Biden, in a recent speech, said, “I came into office determined to change the economic direction of the country.” The Financial Times calls it “Bidenomics.”

He went on to say that “Bidenomics is working.” REALLY! Try telling that to individuals who have low or fixed incomes and can hardly make it from week to week. Anybody that thinks this is a good economy is not living in reality.

To bolster his claim he said the U.S. has the highest economic growth rate, leading the world economies since the pandemic.

Again he is fabricating the truth. Where is the media calling out his lies?

According to Statista, India’s GDP growth rate in 2022 was 6.8 percent, Canada’s was 3.4 percent and China’s was 2.99 percent, while in the U.S. it was 2.1 percent.

His claim that he created 13.4 million new jobs is a falsehood. The House Budget Committee and other fact-checkers have pointed out Biden’s characterization of new jobs his administration created is misleading because most were simply jobs added back following the pandemic.

In fact, when looking at today’s economy compared to pre-pandemic levels, employment is up only by 3.7 million,” the committee said.

“On the other hand, prior to the pandemic, job creation under President [Donald] Trump was 6.7 million — 3 million more jobs than the current President,” it said.

In fact, when Biden took office in January 2021, the unemployment rate had already dropped from a pandemic high of 14.7 percent in April 2020 to 6.3 percent. It is now 3.7 percent.

The truth of the matter is that Bidenomics is not working. No matter what spin he puts on it.

If he were doing as good a job as he says he is, more readers would be praising him. The only thing I hear is people blasting Trump. The more people bring up his name the higher his polls go. He has managed to dominate the news cycles. So keep it up you Trump haters. You are only ensuring his re-election.

Sincerely,

Jim Outman

Owego, N.Y.