The ongoing Republican primaries have seen candidates consistently criticize Bidenomics, raising concerns about deficits, government spending, and national debt. However, some argue that these critiques are inaccurate.
Republican candidates, such as Nikki Haley and Ron DeSantis, have asserted that Bidenomics is adversely affecting American families, leading to increased costs for necessities like gas and groceries. Despite these claims, a Republican small business owner argues that the economy is performing well. He points to positive indicators, including a last quarter GDP growth of 5.2%, record-low unemployment, and consistent job additions each month. While acknowledging higher prices, he highlights a decrease in inflation from 9% to about 3%.
The small business owner counters the Republican candidates’ narrative, emphasizing that the stock market and household wealth are at all-time highs, with lower credit card delinquency rates. He also notes strong holiday retail sales, robust online sales, and available capital for businesses. The article suggests that while challenges exist, the overall economic picture is positive.
The author acknowledges potential disruptions in 2024, such as wars, oil prices, terrorism, or pandemics. However, he contends that the Republican candidates’ portrayal of a fundamentally bad US economy is untrue, irrespective of political affiliations.
On a separate note, the article discusses unexpected developments in the UK in 2023 and encourages readers to support The Guardian financially for continued independent journalism.