The White House is pressing congressional Democrats to embrace the concept of “Bidenomics” as President Joe Biden tries to reclaim messaging around the economy.
In a memo sent to Hill Democrats earlier this week, White House officials detailed talking points to control the economic narrative as being under the control of Bidenomics, a catchall term referring to the policies implemented by the Biden administration. The strategy comes as Republicans have hammered the president on economic problems, pointing to soaring inflation as a result of the very policies the president claims are helping bring inflation down.
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The White House memo points to the economic growth during the Biden administration, arguing the president has put working-class families in a better position than they were before the COVID-19 pandemic. The memo cited declining inflation rates over the last year, as well as lowering costs of living and prescription drug costs.
One chart showed that inflation rates have dropped in the United States compared to other countries while the economic recovery has been the strongest of its peers.
The memo touted the job creation numbers under Biden, which the president has frequently referenced in speeches to supporters. The White House pointed to the strengthening labor market, noting Biden “brought the unemployment rate below 4% four years before experts projected and kept it there for the longest period in more than 50 years.”
The report also included a number of attack lines to be used against Republicans in the next election cycle, particularly as Democrats seek to seize the narrative on economic growth. GOP candidates have often pointed to what they refer to as “Bidenflation,” directly tying rising costs with the same economic policies that Democrats have credited with cooling inflation.
The memo criticized Republicans’ plans to “enact massive tax cuts,” accusing the GOP of “adding trillions of dollars to the deficit.” The White House also decried efforts to raise the retirement age to receive Social Security benefits, returning to a central talking point during the midterm elections.
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The revised strategy comes as the economy emerges as a top voter concern ahead of the 2024 election, which has proved to be a crucial cycle for Democrats as they seek to maintain control of the White House and Senate. Only 31% of voters say they approve of Biden’s performance on the matter, according to an Associated Press survey conducted in May.
The memo also coincides with the release of the Labor Department’s May inflation report that found consumer prices rose by 4% during the past year. That annual rate falls short of the Federal Reserve’s desired 2% rate, but it represents the slowest increase in more than two years as last month’s producer price index decreased to 1.1%, per the Commerce Department.
