Steve Forbes slams Bidenomics – as most Americans say they are worse off since Biden took office
Steve Forbes slams Bidenomics – as most Americans say they’re worse off since Biden took office
- Economic experts are not convinced that Biden’s economic plans are working
- Comes as the president unveiled his new Bidenomics proposals last month to address voters’ ongoing economic and financial plight
- Most Americans say they’re worse off since Biden took office — and 60% are worried about the economy and their own financial security under the president
Steve Forbes criticized Joe Biden for his new economic plan, saying the president’s claims that he is curbing inflation and reducing the budget deficit are fantasy.
Biden unveiled his namesake Bidenomics plan to address economic problems last month and has been touring the country touting the proposals ever since.
Despite the president’s apparent economic-related victory lap, more than half of Americans consistently say they are concerned about the economy and their own financial security under Biden.
Forbes, the chairman of Forbes Media, said on Friday he was “surprised” by the government’s rhetoric on the economy.
“A year ago, Joe Biden called himself the deficit cutter, the deficit slasher. This year the deficit is two and a half times as large as it was a year ago,” he told Fox News’ America’s Newsroom.
Steve Forbes said President Joe Biden’s defense of his economic policies is ‘great’ given the downturn in the economy and growing number of Americans saying they are worse off since Biden took office
“He says he’s pushing inflation back, still twice as much as when he took office and those prices aren’t falling, just the rate of increase is falling,” he continued. “People’s credit card debt, where is that? Record height. Business investment is not what it should be, headwinds abroad.’
Forbes questioned the president’s recent claims: “What kind of world does he think he lives in?”
He also said that due to the downturn in the economy since taking office, he doesn’t believe Biden will be the Democratic nominee in 2024 — even though there are no other formidable Democratic candidates running him so far.
“People feel the institution in this country [they] can’t trust anymore,” Forbes said. And you see that feeling on both sides, which is why Robert F. Kennedy Jr. really grip. Who would have thought that a year ago?’
Forbes says Biden’s record in economics will be his downfall.
However, Biden claims his economic policies are already delivering, taking credit for declining inflation and low unemployment — both results of recovery from the three-year COVID pandemic.
Speaking to union members at the Philly Shipyard in Philadelphia, Pennsylvania on Thursday, Biden admitted, “I am not here to declare victory. We still have a long way to go in the economy.’
“I’m here to say we have more work to do. We have a plan that changes things pretty quickly. Bidenomics is just another way of saying “restore the American dream,” he added.
Polls show voters are not convinced the economy is improving, as Bidne’s team consistently claims.
The president’s most recent stop on his Bidenomics tour was delivered Thursday to union supporters at the Philly Shipyard in Philadelphia, Pennsylvania
In June — and repeated during his remarks last week in Philadelphia — Biden defended Bidenomics by claiming that he cut the federal budget by $1.7 trillion. But the Washington Post rated this claim as “highly misleading.”
Trump-era economic adviser Steve Moore is also unimpressed with Biden’s economic track record.
“The people who have really been victimized by the Biden policy are middle-class Americans,” he said in an interview with Fox News on Friday.
Biden went to Chicago in late June to woo Americans who have a negative view of his handling of the economy.
Meanwhile, a DailyMail.com poll last month found that 52 percent of voters think they are worse off since Bidne took office in 2021.
Americans’ economic prospects have been a source of frustration in the White House — and for Biden’s reelection campaign.