In defense of Bidenomics
August 31, 2023
To The Eagle:
Today I received an anonymous letter [in response to my last letter to the editor of The Eagle]: “Bidenomics is not working. Everyone is starving. Bidenomics is crazy.” No name added. (Used to be, people didn’t need to be anonymous.) So I will use this platform to respond.
My wife and I are on social security, with no other retirement income -- she with only $840 a month, mine $2,100. We are not averse to high prices, and have made some adjustments to make it.
So what are Bidenomics?
Covid was remarkably disruptive to people’s lives. People don’t feel confident that we are on the other side of it. New economic data shows inflation cooled to three percent in June, down from over nine last year, and close to the Fed’s goal of two. In Republican circles, giant tax cuts -- going mostly to the rich, and large corporations -- leave a big deficit.
The Bipartisan Infrastructure Deal will help people get clean water, internet, access, road and bridge repairs, and will add on average 1.5 million jobs per year for the next 10 years (a promise of two prior presidents). The Chips bill will boost domestic research and manufacturing of semiconductors in the United States.
And by the way, my wife is diabetic, and on other medications, costs of which have been cut drastically.