President Joe Biden is set to visit Pennsylvania on Friday, marking his first official event of the year and his 33rd visit to the state since assuming office. The visit will focus on ‘Bidenomics’, a term coined to describe the economic policies under his administration.
Despite some contention within the Democratic party over the use of the term, Biden continues to use it as a banner for his economic achievements. The President and his team have been strategizing to take more credit for the economic progress made during his tenure.
The President’s visit to Allentown, Pennsylvania, a city that has seen a revival in recent years, will highlight the positive effects of his policies on small businesses. The White House reports that the city’s unemployment rate is at a 30-year low, and credits this to the ‘small business boom’ triggered by Biden’s policies.
However, the administration acknowledges that changing public perception of the economy will take time. Despite significant gains in wages, employment, and wealth, there is still work to be done, particularly in lowering costs. Recent data shows consumer prices rose 3.4% annually in December, a decrease from the previous year but still higher than pre-inflation levels.
Despite the challenges, Biden’s team remains optimistic. They point to rising earnings that are finally outpacing inflation, a recession that never materialized, and improvements in consumer confidence as signs of economic success. However, these positive indicators have not significantly improved public perception of Biden’s economic management.
Recent polls show mixed views on the economy among Pennsylvania voters. A Quinnipiac University survey revealed that only 33% of voters described the economy as either excellent or good, while 66% rated it as not-so-good or poor. However, the poll also showed Biden leading Trump by 49% to 46% in a general election matchup.
Some Democrats have expressed concerns about the ‘Bidenomics’ approach, suggesting that the President should focus more on highlighting the risks of a potential second Trump presidency. Others suggest a more narrow focus on prices, which is a top concern for Americans.
As Biden continues to promote his economic policies, some members of his team are transitioning from the White House to his campaign, including Mitch Landrieu, who played a key role in implementing the new infrastructure law. Landrieu is expected to join the Biden campaign as a co-chair.