President Joe Biden has taken the fight to his Republican adversaries, claiming that he has managed the economy more effectively than former President Donald Trump.
According to The New York Times, Biden spoke on Thursday at Prince George's Community College in Largo, Maryland, where he criticized the economic strategies of his opponents, specifically their budget plans.
Biden argued his “Bidenomics” program has done more for everyday Americans than the “MAGAnomics” of his predecessors. He further criticized Republicans for prioritizing the wealthy over the working class and for their proposed cuts to social security, Medicare and Medicaid.
The Health Care Select Sector SPDR Fund XLV rose 0.3% on Thursday, but underperformed all the other S&P 500’s sectors.
Biden's intensified criticism of Republicans came amid a series of speeches and messaging promoting the benefits of “Bidenomics,” a term initially used by critics but now embraced by the administration.
Despite these efforts, Biden's approval ratings have not improved. A recent USA Today/Suffolk University poll found that only 22% of Americans believe the economy is improving, while 70% think it’s getting worse. Furthermore, only 34% of Americans approve of Biden's handling of the economy.
Meanwhile, Trump's camp has struck back, blaming the current economic problems on Biden’s policies. They characterized “Bidenomics” as a recipe for inflation, taxation, submission and failure.
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