Steve Forbes blasts Bidenomics as most Americans say they’re worse off since Biden took office
- Economic experts are not convinced that Biden’s economic plans are working
- It comes as the president last month unveiled his new bidenomics proposals to address the continuing economic and financial hardships for voters.
- Most Americans say they are worse off since Biden took office, with 60% worried about the economy and their own financial security under the president.
Steve Forbes has harshly criticized Joe Biden for his new economic plan, calling the president’s claims that he is reducing inflation and the deficit are a fantasy.
Biden unveiled his namesake Bidenomics plan last month to address economic issues and has been touring the country promoting the proposals ever since.
Despite the president’s apparent economic victory lap, more than half of Americans consistently say they are worried about the economy and their own financial security under Biden.
Forbes, the president of Forbes Media, said Friday that he was “surprised” by the administration’s rhetoric regarding the economy.
‘A year ago, Joe Biden called himself the deficit cutter, the deficit cutter. This year the deficit is two and a half times greater than it was a year ago,” he told Fox News’ US Press Room.
Steve Forbes called President Joe Biden’s defense of his economic policy “astounding” considering the economic downturn and the growing number of Americans who say they are worse off since Biden took office.
“He says he’s bringing inflation down, still double what it was when he took office and those prices aren’t going down, just the rate of increase is going down,” he continued. ‘People’s credit card debt, where is that? Record. Business investment is not what it should be, headwinds abroad.’
Forbes questioned the president’s recent claims: “What kind of world do you think you’re living in?”
He also said that due to the economic downturn since he took office, he doesn’t think Biden will be the Democratic nominee in 2024, though so far there are no other formidable Democratic candidates to take him on.
‘People feel the institution in this country [they] I can’t trust anymore,” Forbes said. “And on both sides, you see that sentiment, so Robert F. Kennedy Jr. is getting real traction. Who would have thought of that a year ago?
Forbes says Biden’s record on the economy will be his downfall.
Yet Biden claims his economic policy is already paying off, taking credit for declining inflation and low unemployment, both results of the recovery from the three-year COVID pandemic.
Speaking to union members at the Philly Shipyard in Philadelphia, Pennsylvania, on Thursday, Biden admitted: ‘I’m not here to declare victory. We have a long way to go in the economy.
I’m here to say that we have more work to do. We have a plan that is changing things quite quickly. Bidenomics is just another way of saying ‘restore the American dream,’ he added.
Polls show voters are not convinced the economy is improving, as Bidne’s team is constantly touting.
The president’s most recent stop on his Bidenomics tour was delivered to union supporters at the Philadelphia Shipyard in Philadelphia, Pennsylvania, on Thursday.
In June, and repeated during his remarks last week in Philadelphia, Biden defended the Bidenomy by claiming it cut the federal budget by $1.7 trillion. But the Washington Post called this claim “highly misleading.”
Trump-era economic adviser Steve Moore is also unimpressed with Biden’s economic record.
“The people who have really fallen victim to Biden’s policies have been middle-class Americans,” he said in an interview Friday with Fox News.
Biden went to Chicago at the end of June to appeal to Americans who have a negative view of his handling of the economy.
Meanwhile, a DailyMail.com poll conducted last month found that 52 per cent of voters believe he is worse off since Bidne took office in 2021.
The economic outlook for the American people has been a source of frustration at the White House and for Biden’s re-election campaign.