The administration says the president’s focus will be on growing the middle class.
President Joe Biden is scheduled to travel to Chicago on Wednesday, where he will attend a fundraising event and outline his administration’s agenda for economic policy. His economic vision, dubbed “Bidenomics,” focuses on tax hikes for billionaires and mega-corporations and subsidies for childcare and electric vehicle technology. The president will touch on all of those themes in this upcoming speech along with criticism for “trickle-down” ideologies.
President Biden will explain his strategy to grow the U.S. economy “from the middle out and bottom up, instead of top-down.” The White House stated the focus of the plan is “growing the middle class and empowering workers, investing in America and lowering costs.”
The president is likely to address concerns about continued inflation and possible recession by pointing to how much the economy has recovered under his administration since the pandemic. However, the Federal Reserve estimates that there’s still “a long way to go” to return the inflation rate to a healthier level.
As the Lord Leads, Pray with Us…
- For safety as the president travels to Chicago.
- For Secret Service agents who are keeping watch over the president.
- For President Biden to seek God’s guidance as he heads the executive branch of U.S. government.
Sources: Reuters, The White House
