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"Bidenomics" - Biden's vision for economic growth 'from the middle out and bottom up' aims to move beyond 'trickle down' economics (www.nbcnews.com)

submitted 2 years ago* (last edited 2 years ago) by [email protected] to c/[email protected]

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President Joe Biden will tout his economic agenda in remarks Wednesday as he campaigns for a second term amid low polling numbers on his job performance and the direction of the country.

The president’s plan, which the White House dubbed “Bidenomics,” aims to “move beyond” the “trickle down” economic theory that it says disproportionately benefits the wealthy and big corporations through tax cuts while reducing investment in priorities such as infrastructure and education, and failing to protect market competition.

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[–] [email protected] 0 points 2 years ago (1 children)

Regardless of whether you believe the economy is good or bad right now, saying it's the "worst it's ever been" is blatantly hyperbolic and untrue. The Great Depression and the 2008 Recession are two incidents we all still talk about. Today's economic situation can't hold a flame to how bad those periods of time were. I hope you're using exaggerated language without ill intent, but it certainly comes off as disingeuous and manipulatively partisan to use language like that when it's so clearly untrue.

[–] [email protected] 1 points 2 years ago

I would say what we have now in 2023 is worse than 2008. I didn't live through the great depression so can't comment there. The older I get, the worse things become in both an economic and social sense. My comment indeed was a bit hyperbolic but the point stands. In 2008 we had large movements clearly pushing against the 1%. Nowadays such a thing really doesn't exist. Similarly there were far more mom&pops back in 2008 than today.

I think one thing is that people talking about "recessions" or "gdp" and other such nonsense are really only looking at the rich. Which for them? yeah things are probably better than ever. But for regular people? No.