July 10, 2023

According to the president, Bidenomics is working. As evidence he cites the economic performance since he took office. Based on his interpretation of the data he has made the decision that there is no need to finetune his economic policy that all that is needed is a rebranding in order to communicate the improved economic conditions to the voters. All those major legislations we passed, people go, “That’s great.” But they — it takes time to get it out in the field. It is clear that the president believes the economy is doing well and that once these components of Bidenomics take effect, the economy will perform even better. If the president is correct in his forecast and the numbers bear out by November 2024, he deserves to be reelected. But his interpretation of the data represents only one view of the world, and it is not universally accepted. An alternative interpretation of the data suggests that the early economic performance has nothing to do with Bidenomics and that the recovery was all a result of the reopening. Hence this view argues that the most recent economic performance is a better representation of Bidenomics. This approach also argues that the industrial policy will not deliver and that increased regulatory burden and dirigiste policies will result in slower economic growth. A deteriorating economic environment would clearly point to an economy going in the wrong direction. This interpretation of the data is consistent with the RCP polls. The predicted economic deterioration will reduce the president’s likelihood of reelection, but will the reduction be large enough to adversely affect his reelection chances?

You must have an active account to view these reports. You may register for a trial here

Download Complete Report in PDF Format

Download Complete Report in Word Format