U.S. President Joe Biden provides remarks on the U.S. economy and his administration’s effort to restore American production, throughout his see in Flex LTD, a factory that makes solar power microinverters, in West Columbia, South Carolina, U.S. July 6,2023
Jonathan Ernst|Reuters
The White House excitedly took credit Wednesday for December’s strong retail sales numbers, which beat expectations due to greater customer costs throughout the holiday.
“That’s not an accident, that’s Bidenomics at work,” Press Secretary Karine Jean-Pierre stated at a press rundown.
Holiday buyers invested more than expected at the end of 2023, after a year of inflation continuing to squeeze budget plans. Retail sales popped 0.6% in December, above the 0.4% Dow Jones forecast.
The Biden administration took credit for the positive report, playing it up like a plume in the president’s cap.
“Because of Bidenomics, because of the economic policies that we put forward, we are seeing now a historic number of small business applications,” stated Jean-Pierre
The White House reported recently that it had actually gotten almost 16 million small company applications in the very first 3 years of Biden’s presidency.
“What that means is that small businesses, folks who are starting them, have the confidence in the economy to start a business” Jean-Pierre stated.
Wednesday’s retail sales success lap came hours after the White House took fresh target at business scrap costs, providing brand-new policies on huge banks for overdraft costs.
Biden’s crackdown on surprise costs belongs to his wider indictment of what he calls business price-gouging, which the White House blames in part for the truth that surveys reveal lots of Americans have not yet experienced the Biden financial healing on an individual level.
Despite the White House’s efforts, citizens blame their financial headaches on the president, a persistent truth that is weighing on Biden’s 2024 reelection project.
For example, Latino citizens, a market that preferred Biden in 2020, and now lean towards Republican frontrunner Donald Trump.
