Trump lays out the differences between his economic policy and ‘Bidenomics’

2AW4W86 February 6, 2020 - Washington, DC, United States: President Donald Trump speaking about impeachment at a press conference in the East Room of the White House. (Photo by Michael Brochstein/Sipa USA)

Photo: Alamy

President Donald Trump touted his previous economic success as inflation rose again under the Biden administration. 

Despite predictions that inflation was leveling off, the Bureau of Labor Statistics reported that “the Consumer Price Index for All Urban Consumers increased 0.6 percent.”

Despite claims from the White House that Bidenomics is working, President Trump released a statement proving otherwise.

The statement noted that Trump had increased the annual household income for Americans by over $6,000 while in office, but this has been undone by Joe Biden’s economic policy — which has lowered the annual real family income by $7,400. 

President Trump’s workforce was also much healthier. Within his first 30 months in office, he created 4.9 million jobs. 

Biden took over during the pandemic recovery, and when adjusting for jobs that were recovered after the pandemic response cooled, he only created 2.1 million new jobs. 

In addition, President Trump heralded American jobs, creating more than double the amount of manufacturing opportunities in the United States than Biden. 

The statement also compared gas and goods prices, a major topic of concern for Americans. Gas has increased by 58 percent under Bidenomics, and goods have risen by an average of 16.6 percent. Regulatory costs, mortgage rates, and credit card debt were lower for Americans under President Trump, but now Bidenomics has continued to cause new financial struggles. 

President Trump also issued another statement specifically calling out Bidenomics for its failures. 

He noted, “Crooked Joe Biden has spent months boasting that he deserves political credit and public gratitude for the state of the U.S. economy. He has insisted that American families are prospering and thriving under policies that he himself has branded and promoted as “Bidenomics.” 

“But the public has not been fooled. They see Bidenomics for what it is: inflation, taxation, submission, and failure,” he continued.

President Trump then predicted, “With polls confirming that Americans overwhelmingly reject Biden’s effort to whitewash his abysmal economic record, he will now attempt to reverse his message 180 degrees, ludicrously trying to blame President Trump for the destruction and misery that Joe Biden himself has wrought.”

He concluded, “As Americans well remember, President Trump built the greatest economy in the history of the world. In fact, he did it twice. And once he defeats Crooked Joe Biden, he will do it a third time starting on Election Night 2024.”  

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