President Joe Biden vowed Wednesday to restore the American dream in a speech promoting his 'Bidenomics' policy that he said will deliver a clean break with decades of Republican economic thinking benefiting the rich.
President Joe Biden vowed Wednesday to restore the American dream in a speech promoting his "Bidenomics" policy that he said will deliver a clean break with decades of Republican economic thinking benefiting the rich.
“Bidenomics is about the future. Bidenomics is just another way of saying restore the American dream,” the Democrat said in Chicago. Without naming Trump, whom he defeated in 2020 but could well face again next year, Biden said Republican leaders had brought ruin with tax cuts for the wealthy in belief that the benefits would later “trickle down” to ordinary people.
Putting his name on it is even bolder, with Bidenomics deliberately echoing and refuting Republicans’ long-cherished Reaganomics, in reference to the 1980s boom under Ronald Reagan.So far, the sales pitch is having trouble getting through in large part due to the lingering inflationary pressures on a country that had grown used to modest price increases.
Huge spending bills passed by Congress during Biden’s first two years in power are pouring money into green energy technology, semiconductors, and not less than $550 billion for revamping the country’s roads, bridges and other infrastructure.
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