It was a tale of two stories as Fox News covered President Joe Biden’s declaration that his economic policies were turning the nation around.
In a clip posted to Twitter, Biden was shown complaining about what he called “trickle-down economics” according to a White House transcript of his comments.
“The entire towns and communities, from where I lived all the way out there and through the Midwest, were shut down, hollowed out. I mean literally hollowed out,” he said.
Biden is pitching his 2024 economic plan and Fox is fact checking him in real time. pic.twitter.com/g9YFiF4XOb
— Citizen Free Press (@CitizenFreePres) June 28, 2023
As Biden was talking, graphics posted by Fox News showed that consumer prices rose 15 percent between January 2021 and May 2023; that May’s inflation rate is at 4 percent and that consumer credit-card debt rose 28 percent under Biden.
“Bidenomics. We’re turning this around,” Biden said as a graphic showed that average hourly earnings have declined 3.1 percent from January 2021 to May 2023.
“We’re supporting targeted investments. We’re strengthening America’s economic security, our national security, our energy security, and our climate security,” he said, moments after Fox News posted graphics showing existing home sales were down 34 percent between January 2021 and May 2023 and that new home sales were down 15 percent in that period.
Is the economy better under Biden?
Yes: 0% (0 Votes)
No: 100% (11 Votes)
Some called Biden “delusional” while another poster wrote, ‘I feel embarrassed for America.”
Every time this guys opens his mouth, I feel embarrassed for America.
— Mark Jackson 🇬🇧🏴 (@Notfiman) June 28, 2023
Delusional 🙄🙄
— king69 (@kingsalami69) June 28, 2023
Bidenomics pic.twitter.com/aXa8Rqv6Vl
— Liberals_R_Idiots_Notta Democrat 🇺🇲 (@Notta_Democrat) June 27, 2023
“Republican lawmakers couldn’t have made the case against Bidenomics better if they had tried,” Noah Rothman wrote in National Review after the speech.
“Indeed, if they can’t leverage Biden’s indictment of his own economic policies for all the political value they’re worth, they’re in the wrong business,” he wrote.
I heard President Biden talk about his economic agenda yesterday. He calls it “Bidenomics.” The rest of us call it a disaster. https://t.co/GiM8jYvRQC
— Kevin McCarthy (@SpeakerMcCarthy) June 29, 2023
In an editorial, the New York Post also said Bidenomics is a failure.
“Steep inflation, declining real incomes, a falling stock market and deepening inequality. Not usually cause for a presidential victory lap. Still, the president frames Bidenomics as chiefly pursuing policies that are ‘pro-worker’ and ‘pro-investment.’ Instead, his policies resuscitate long-rejected big government failures,” it wrote.
“All in all, Bidenomics relies on vast subsidies and regulations to shield favored industries from competition, at the expense of consumers and taxpayers. It’s a spoils system for big labor and politically connected industries,” it wrote.
“Given the soaring federal debt, steep inflation and falling incomes, its no wonder that the president would rather criticize ‘trickle-down’ straw men than defend his economic record,” the editorial said.
This is a more accurate definition of #Bidenomics pic.twitter.com/HZJGzwpUW8
— Kerry 🇺🇸 (@K1erry) June 28, 2023
Although Biden said he had done great things, the Associated Press reported that only 34 percent of Americans were pleased with his economic leadership, citing a poll from The Associated Press-NORC Center for Public Affairs Research. The poll of 1,220 adults was conducted June 22-26 and has a margin of error of plus or minus 3.9 percentage points.
