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What is Bidenomics?

Geoff Riley

14th July 2023

Bidenomics is a term used to describe the economic policies of President Joe Biden. Bidenomics is based on the principles of fiscal stimulus, infrastructure investment, and tax fairness. Bidenomics is essentially a mix of Keynesian interventionist and supply-side economics, with an emphasis on infrastructure spending, subsidies for clean energy, and job creation, especially in manufacturing.

Fiscal stimulus is the use of government spending to boost the economy. Bidenomics calls for increased spending on infrastructure, education, and healthcare. This spending is designed to create jobs and boost economic growth.

Infrastructure investment is the construction or improvement of physical structures, such as roads, bridges, and airports. Bidenomics calls for a major investment in infrastructure, which is seen as a way to create jobs and boost economic growth.

Tax fairness is the idea that the tax system should be fair to all taxpayers. Bidenomics calls for tax increases on wealthy individuals and corporations. This is seen as a way to make the tax system more fair and to raise revenue for government programs.

Bidenomics has been criticized by some economists who argue that it is too focused on government spending and that it will lead to inflation. Others have argued that Bidenomics is not ambitious enough and that it does not do enough to address the long-term challenges facing the US economy.

However, Bidenomics has also been praised by some economists who argue that it is the right approach to address the economic challenges facing the US. They argue that Bidenomics is necessary to create jobs, boost economic growth, and make the tax system more fair.

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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