https://issuesinsights.com/2024/03/04/even-biden-doesnt-want-to-talk-about-bidenomics-anymore/
After President Joe Biden embraced the term “Bidenomics,” he and his White House staff couldn’t get enough of it. But either Biden’s forgotten all about it, or the administration realized that it was doing no good to brag about something the public didn’t believe. Either way, the term is vanishing from use.
It was in a speech in Chicago on June 28, 2023, that Biden decided to bear-hug the term.
“I didn’t come up with the name. I really didn’t,” he said. “I didn’t realize the economists in the Wall Street Journal did. But I’m happy to call it ‘Bidenomics.’ And guess what? Bidenomics is working.”
Biden thought he was catching a wave. The economy seemed to be turning a corner, the rate of inflation was decelerating, job growth was strong. Surely the public would come to realize that the worst was behind.
Embracing the term would make it easy, the thinking probably was, to claim credit for any good news.
And, boy, did Biden try to tie “Bidenomics” to whatever good news he could find. At least initially.
The problem was that the more Biden tried to tell the public how he’d rescued the economy, the less the public believed it. Biden’s approval rating continued to slide. His grades on his handling of the economy did likewise.
In our I&I/TIPP Poll last June – taken just before Biden started talking up Bidenomics – we asked Americans if they agreed with Biden that the economy was strong. Only 36% did so. A New York Times/Sienna poll released over the weekend finds that only 18% those surveyed think Biden’s policies have helped them personally. (That compares with 40% who say Donald Trump’s policies helped them personally.)
His numbers haven’t improved since then. The TIPP Economic Optimism Index is lower today than it was then. Just 27% now give Biden an “A” or “B” grade on handling the economy, while 53% give him a “D” or an “F.”