President Biden’s Economic Success: A Triumph for the Middle Class
Since taking office, President Biden has transformed an economy that was rigged for the ultra-rich and in disarray. Through his visionary approach of growing the economy from the middle out and bottom up, President Biden has achieved remarkable results. The U.S. economy has consistently surpassed expectations under his leadership, with millions of jobs created, record-low inflation, and reduced costs for the American people.
Championing the Middle Class: Biden vs. Trump
The stark contrast between President Biden and former President Trump is evident in their impact on the middle class. While Biden prioritizes the needs of working people, drawing from his own upbringing in Scranton, Trump and MAGA Republicans pursued failed trickle-down economics that harmed Americans, incentivized outsourcing, and contributed to a ballooning deficit. Despite these failures, Trump and his allies persist in pushing extreme policies that directly threaten the well-being of the middle class. It is clear that leadership matters, and the American people will choose a leader who consistently supports the middle class.
A Positive Year for Workers and Middle-Class Families
Amid ongoing efforts to lower costs, tackle special interests, and create more economic opportunities, 2023 proved to be a promising year for workers and middle-class families in Biden’s America. Notable publications and experts have recognized the positive impact of Biden’s economic policies:
- The Philadelphia Inquirer’s Editorial Board hailed 2023 as the “year of the American worker,” crediting President Biden for strengthening the economy and benefiting workers overall.
- The Washington Post acknowledged that workers emerged as winners in 2023, defying gloomy predictions. Biden’s economic policies consistently outperformed expectations.
- The Economist admitted its miscalculation, acknowledging that America’s growth in 2023 is on par with the boom year of 2005.
- Forbes recognized Biden’s Inflation Reduction Act as the catalyst behind the United States’ resurgence in big construction projects.
- Bloomberg’s Steve Dennis summarized the positive state of the economy heading into the 2024 election year, highlighting falling inflation, surging consumer confidence, low unemployment, record-high stocks, booming factory construction, and increased oil production.
The Impact of President Biden’s Leadership
- Annual inflation has reached its lowest level in over two and a half years.
- Incomes have grown by 3.7% this year, adjusting for inflation.
- Grocery and energy prices have decreased, and gas prices have dropped significantly.
- The cost of various products, from eggs and milk to toys and appliances, has decreased over the past year.
- 14.1 million jobs have been created, including 800,000 manufacturing jobs, and unemployment has remained below 4% for 22 consecutive months.
- Consumer sentiment is on the rise as Bidenomics revitalizes the economy from the middle out and bottom up.
The Stakes for November: Progress vs. Regression
Despite the significant progress achieved, the upcoming November elections hold the potential to derail the advancements made under President Biden’s leadership. If MAGA Republicans have their way, the American people could face a devastating return to failed trickle-down policies that increase costs, offshore jobs, and provide tax breaks for corporations and the ultra-rich.
Remembering Trump’s Record
- Donald Trump left office with the worst jobs record since the Great Depression.
- He inflated the deficit to favor massive tax cuts that benefited the ultra-wealthy and big corporations.
- Trump’s policies created incentives for companies to outsource jobs.
The Danger of MAGAnomics
- MAGA Republicans seek to further enrich the wealthy and big corporations at the expense of the middle class.
- They aim to cut Social Security, Medicare, and Medicaid.
- MAGA Republicans want to eliminate Medicare’s ability to negotiate lower prescription drug costs.
- They plan to roll back an out-of-pocket cap on annual prescription drug costs for seniors, which would impact nearly 19 million Americans.
- Health insurance premiums could increase by $800 for 15 million Americans.
- By gutting investments in the middle class, MAGA Republicans would raise costs for families.
Read More of this Story at www.wispolitics.com – 2024-01-01 17:37:18
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