Bidenomics is Working in Battleground States“ President Joe Biden has grappled with an economy that saw inflation soar to its highest level in 40 years. But data shows that his often-touted Bidenomics might be working to his advantage, particularly in six states that could go to either Biden or his Republican rival in November.
Although Biden's presidency has been plagued by high inflation, leading some analysts to anticipate a recession, the economy has proved resilient. Inflation has slowed. The unemployment rate at 3.7 percent has dropped to its lowest level in decades and last year the economy grew by 2.5 percent.
On Wednesday, the private sector added more than 100,000 jobs while wages also went up, according to research institute ADP, both slower than in previous months but a signal that the economy was achieving a soft landing. This is the scenario where the Federal Reserve's hiking of rates helped cool inflation without doing too much damage to the economy.
"This economy has softly landed and is relaxing at its destination, with two things happening—slowdown in hiring, but still solid, and wage pressures [are] easing, which also helps the case to keeping inflation under control," ADP's chief economist Nela Richardson told reporters.
The state of the economy has the Biden administration saying that his policies—dubbed Bidenomics—are working. And in those six battleground states, low unemployment, below-average gas prices, and economic growth indicate he might be right.
"The U.S. economy grew 3.1 percent over the past year while adding another 2.7 million jobs, and with core inflation moving back down towards the pre-pandemic benchmark," Biden said last week, referring to growth in the fourth quarter of 2023 to the same time the previous year. "Wages, wealth and employment are higher now than they were before the pandemic. That's good news for American families and American workers. That is three years in a row of growing the economy from the middle out and the bottom up on my watch."
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The article goes on to each battle ground state. Bad news for maga world where hating the other side seems to be its biggest principle and a good economy is a threat to the thing they worship.
