Posted BY: | NwoReport
Former Reagan administration economist Larry Kudlow destroyed President Joe Biden’s claims Wednesday that Bidenomics is “working” and superior to Reaganomics.
In a speech in Chicago, Biden said, “I knew we couldn’t go back to the same failed policies when I ran, so I came into office determined to change the economic direction of this country, to move from trickle-down economics to what everyone on Wall Street Journal and Financial Times began to call ‘Bidenomics.’”
“Trickle-down economics” is the derisive term leftists use to try to dismiss the economic boom the nation experienced under President Ronald Reagan in the 1980s, when the economy grew an entire third larger, adding over 16 million jobs.
“And guess what? Bidenomics is working,” the president claimed. “When I took office, the pandemic was raging and our economy was reeling, supply chains were broken, millions of people unemployed, hundreds of thousands of small businesses on the verge of closing after so many had already closed — literally, hundreds of thousands on the verge of closing.
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“Today, the U.S. has the highest economic growth rate, leading the world economies since the pandemic. The highest in the world.”
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It’s not clear exactly what criteria Biden was using, but according to Statista, India’s GDP growth rate in 2022 was 6.8 percent, Canada’s was 3.4 percent and China’s was 2.99 percent, while in the U.S. it was 2.1 percent
