Brian Schimming, Chairman of the Republican Party of Wisconsin, took to the X platform, formerly known as Twitter, to criticize President Biden’s economic policies known as “Bidenomics”. The post came right before President’s visit to Wisconsin, where he addressed his economic policies.
“Working people in Wisconsin suffering from #Bidenomics as #POTUS Biden flies to #Milwaukee this Tuesday to try to convince them otherwise; it won’t work,” Schimming said. “7 of 10 Americans know we’re on the wrong track.”
Biden visited Milwaukee on August 15, marking his sixth trip to the state since assuming the presidency. During his visit, the President discussed the economy and the impact of “Bidenomics,” which has been met with disfavor by a significant number of Americans, and its efforts to rectify the nation’s economic state through investments in the country. This visit happened just ahead of the first Republican debate, which will also occur in Milwaukee next week, according to Fox 6.
President Biden dedicated a total of two hours to visiting the clean energy manufacturer Ingeteam. During his time there, he engaged in discussions about various initiatives, including the Chips and Science Act, the bipartisan Infrastructure Law, the American Rescue Plan, and the Inflation Reduction Act (IRA), all as part of his promotional efforts related to Bidenomics, according to Fox 6.
President Biden’s overall approval rating has significantly declined from 62% in 2021 to 40% this year, including his handling of the economy alone, dropping from 60% to 34%. Biden’s declining approval rating can be attributed to concerns about inflation and economic issues. However, he maintains that his “Bidenomics” policies are effective, according to CBS News.
In a recent study by Bank of America, the number of individuals opting for a hardship withdrawal from their 401(k) accounts surged by 36% in the second quarter of this year compared to the second quarter of 2022, totaling 15,950 withdrawals. Additionally, the New York Fed revealed that credit card debt among U.S. households has crossed the milestone of $1 trillion for the first time, according to CNN.
“Bidenomics isn’t working,” said Wisconsin Rep. Bryan Steil, according to the X platform. “Wisconsin families are spending $709 more every month than they did two years ago. President Biden’s visit today is just a reminder that everyone is paying more for their everyday needs after the Inflation Reduction Act passed.”
