What to Know in Washington: Voters Aren’t Sold on Bidenomics Yet

Democrats are embracing Bidenomics. Both parties say that’s a good thing.

As President Joe Biden steers toward his re-election campaign with a tour promoting his economic record, congressional Democrats are pointing to cooling inflation, low unemployment, a cap on insulin prices, and a steady roll-out of infrastructure projects as evidence that their agenda has delivered benefits for everyday Americans — and will continue doing so as next year’s races for the White House and Congress unfold.

(Photo by MANDEL NGAN/AFP via Getty Images)

President Joe Biden gestures towards workers while arriving to speak about his economic plan “Bidenomics” at the Philly Shipyard, in Philadelphia on July 20.

The problem for Biden and battleground Democrats facing tough re-elections: Polls suggest that after three years of high inflation, most voters aren’t sold on Bidenomics.

Senate Republicans asked about “Bidenomics” immediately quoted the president’s polling average, as compiled by the web site Real Clear Politics: fewer than 39% of voters approve of his work on the issue.

“It’s amusing that he’s stuck his name on the policy and he’s not that popular himself, even among Democrats,” said Sen. John Cornyn (R-Texas).

Democrats countered daunting polling by arguing that voters will increasingly see the upside of their work as time goes on, and they hope, lower inflation becomes normal again. Democrats are planning to highlight those results with events built around groundbreakings for roads and bridges, broadband expansion, and other projects over the coming August recess and throughout the 2024 cycle.

“Not all of it you can feel right away,” said Rep. Susan Wild (D-Pa.), who represents one of the country’s most closely divided districts. “But I do think Bidenomics is exactly what he should be talking about.” Jon Tamari highlights how both parties are campaigning on the pitch.

BIDEN’S AGENDA

• The president will give remarks about AI around 1:30 p.m. at the White House, where companies including Microsoft, Google, Amazon, Meta, and OpenAI are set to voluntarily commit today to responsibly develop and deploy AI at the administration’s request.

CONGRESS’ SCHEDULE

• The House and Senate return on Tuesday.

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To contact the reporter on this story: Giuseppe Macri in Washington at gmacri@bgov.com

To contact the editor responsible for this story: Kayla Sharpe at ksharpe@bloombergindustry.com