(TheRedAlertNews.com) – In what is hardly the smartest thing to do for an embattled president with reelection hopes, Joe Biden has accused Americans disgruntled over the economy of being “disconnected” from reality – while insisting that Bidenomics is performing swell in a major international forum speech.
Addressing the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco, on Thursday, the president said there was a perceived “disconnect” between the current economic statistics and the public’s sentiment regarding their finances.
“The last quarter, the American economy grew 4.9%. The highest growth rate in two years,” Biden remarked, as cited by The Daily Caller.
“More people in the United States are in the workforce today than any time in American history. Unemployment has been under 4% for 21 straight months. Inflation has come down by 65%, and more to do. I mean, we know have lowest inflation — lowest inflation rate of any advanced economy in the world. Meanwhile, median household wealth has grown by 37% in real terms since before the pandemic,” the president elaborated.
However, this optimistic view of the economy contrasts starkly with the public’s perception, the Caller notes.
A significant majority of Americans, as per a September YouGov Poll, feel that the economy is deteriorating, with only 16% believing it is improving.
This sentiment is reflected in the fact that 61% of Americans are living paycheck-to-paycheck, and 75% rate the economy as being in a “fair” or “poor” state.
“I acknowledge there’s a disconnect between the numbers, and how people feel about their place in the world right now. We can deal with the second part as well. We still have work to do,” Biden declared at the APEC forum.
Concerns about the public’s reception of the White House’s economic messaging, dubbed “Bidenomics,” have been raised within the Democratic Party.
In meetings with the Progressive Change Campaign Committee (PCCC) in September and October, Biden allies were presented with data suggesting that the “Bidenomics” brand is not effectively convincing the public of economic recovery.
The data showed only 35% of Americans preferred Democrats over Republicans on economic issues, and a significant majority did not perceive the economy as improving.
“We’re working every day to show the American people what President Biden and Congressional Democrats have delivered. We will continue reaching out to the portion of Americans who are not yet aware of those incredibly popular accomplishments,” White House spokesperson Michael Kikukawa told Politico.
— CNBC (@CNBC) November 16, 2023