Prominent Democratic strategist David Axelrod offered a brutally critical assessment of President Joe Biden’s approach to selling his economic plans to the American populace when he appeared on a CNN panel last Thursday. Axelrod expressed confusion at the President’s inability to effectively communicate the supposed strengths of his economic policies. Most troubling, according to him, is the persistence of high inflation, which sadly registered at 3.5 percent in March, putting increasing financial stress on diligent Americans.
In Axelrod’s view, the Biden administration is missing the mark clearly in conveying the state of the economy to everyday Americans. The discrepancy lies in the fact that while global economic recovery post-pandemic appears to be unprecedentedly quick under Biden’s tenure, the experience at the ground level — marred by rising living costs — paints an entirely different picture.
Even though the economy has seemingly bounced back at a faster pace compared to other nations, Axelrod delivered a stark reminder that common citizens do not quantify economic improvement in the same way. For them, the economy refracts through the prism of household expenses, which have been constantly hiking upwards.
Interestingly, Axelrod highlighted President Biden’s hallmark characteristic: his empathic nature, over which he has shaped his political legacy. Yet he mentioned the president’s glaring failure to showcase this empathy in addressing economic concerns, an omission Axelrod referred to as a grave error.
Echoing the sentiments of a disappointed ex-Obama consultant, Axelrod mused that the answer to electoral defeat might reside not in the resurgence of Trump, but in the president’s own failures. Such failures, stemming from an insurmountable sense of pride, can likely seal his fate in the 2024 elections, a sentiment Axelrod fiercely voiced.
A recent Reuters/Ipsos poll, indeed, demonstrates that voters strongly lean toward Trump when it comes to trusting someone with the rejuvenation of the economy in the coming four years. An impressive 41 percent of poll participants expressed more confidence in Trump’s economic strategy, relegating Biden to the background with just 34 percent support.
The Biden-led economic era has been characterized by unprecedented credit card defaults, skyrocketing mortgage interest rates, and frightening supply chain disruptions. All of these factors have drastically affected the price of essential goods, ranging from daily groceries to essential construction supplies – a predicament not lost on American citizens.
The contrast between Trump’s and Biden’s economic strategies is stark: Trump plans to reduce taxes during his potential next term, while Biden announced last month that he intends to let the 2017 Tax Cuts and Jobs Act expire in 2025. This could inevitably lead to a considerable rise in middle-class Americans’ tax burden, a move not likely to sit well with hard-striving citizens.
During a union workers gathering, Biden unabashedly expressed his intention to let the advantageous tax credits expire if he is reelected. ‘Let me break this down for you: this tax benefit will continue to be non-existent if I am reelected – dead and buried’, Biden declared with conviction.
In response to this projected tax policy change, Trump warned his supporters during a rally in Michigan about the inevitable consequence: an exponential increase in the average American’s tax responsibility. This intention of Biden’s, according to Trump, reveals the true state of economic affairs under his regime.
Emphasizing the likely reality under a ‘deceptive Joe’, as he named Biden, Trump shared figures to drive the point home: an individual earning $75,000 per year would end up paying almost an additional $2,000 in taxes under Biden’s plan.
To further illustrate his point, Trump cited the example of a family of four with an income of $165,000 per year. Such a family, Trump warned, would see their yearly tax burden increase by at least $3,000. A fact that highlights Trump’s substantial lead in the economic trustworthiness polls among voters.
In conclusion, the economic policies of the Biden administration have come under harsh criticism, not just from conservative voices but also from within his own democratic camp. While rapid economic recovery post-pandemic is commendable, the real-life experiences of the American people tell a deeply different story due to the climbing cost of living. The eminent danger, however, lies in the proposed tax increases which could further strain hard-working Americans. It unequivocally appears that the voters are getting aware of the stark realities presented within the contrasting economic plans of the two leaders.