US President Joe Biden Embraces 'Bidenomics'

US President Joe Biden Embraces 'Bidenomics'

June 29, 2023, 7:30 a.m.

US President Joe Biden is trying to make his economic policy a major part of his campaign for reelection in 2024. He is calling the plan "Bidenomics" -- a name given to his handling of the economy by the media.

Biden gave a speech on Wednesday in Chicago, one of the country's manufacturing centers. He said Bidenomics is about "building an economy from the middle out and the bottom up, not the top down." He pointed to three "fundamental changes" -- growing the middle class by educating and empowering workers, "smart" investments, and promoting competition to lower costs and help small businesses.

He touted the ways his approach is already delivering, adding more than 13 million jobs and pushing unemployment to near a historic low of 3.7 percent. He added that his policies have brought down record-high inflation.

However, some Republicans still point to prices that, they say, have "skyrocketed." And the latest poll from YouGov found that just 36 percent of those surveyed approve of Biden's handling of the economy.

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