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Biden Economy EXPLAINED
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President Biden is trying to convince America that he deserves another four years in office. Key to that pitch: selling the economy.
Biden’s argument focuses on being pro-consumer and pro-union — and with an eye toward the middle class, which has been squeezed by high inflation and steep housing costs. He is also intent on implementing many of the landmark pieces of legislation — including on infrastructure and clean energy — passed during his first term. And he’s been putting a spotlight on wealthy Americans who he argues don’t pay their fair share in taxes.
“There’s more to be done,” Biden said during Thursday’s first presidential debate. “Working-class people are still in trouble.”
Many of his new proposals are likely to become law only if Democrats clinch both chambers of Congress in November. But in the meantime, Biden’s campaign success also rests on convincing voters that the economy is already performing well: The job market is booming, inflation is easing, and growth is keeping up at a steady pace. Yet three years of hot inflation and a long stretch of high interest rates have left a lot of voters with the gloomy sense that the economy isn’t working for them. And many put the blame on Washington.
Biden’s argument focuses on being pro-consumer and pro-union — and with an eye toward the middle class, which has been squeezed by high inflation and steep housing costs. He is also intent on implementing many of the landmark pieces of legislation — including on infrastructure and clean energy — passed during his first term. And he’s been putting a spotlight on wealthy Americans who he argues don’t pay their fair share in taxes.
“There’s more to be done,” Biden said during Thursday’s first presidential debate. “Working-class people are still in trouble.”
Many of his new proposals are likely to become law only if Democrats clinch both chambers of Congress in November. But in the meantime, Biden’s campaign success also rests on convincing voters that the economy is already performing well: The job market is booming, inflation is easing, and growth is keeping up at a steady pace. Yet three years of hot inflation and a long stretch of high interest rates have left a lot of voters with the gloomy sense that the economy isn’t working for them. And many put the blame on Washington.
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