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viewers! joe biden is on the road in chicago, trying to sell his economic policy, which has been dubbed as bidenomics. his economic theory rejects the idea of "trickle down" policies in favour of focusing on the middle class, with trillions of dollars in investment over the past two years. and in part, his plan has seen the us economy fare better than other major economies in dealing with inflation and the fallout from russia's invasion of ukraine. take this inflation graph, for example. the uk — at the top in red — is all the way up at 8.7%, the us at the bottom there is back down at 2.7%. but despite decent economic numbers, the public doesn't believe the president is doing a good job. in fact, only 33% of people think he is handling the economy well. so the president and his team are trying to change that perception in the lead up to the 2024 election. let's take a listen tojoe biden speaking a little earlier.
at the manhattan institute. good to talk to you on the context on bbc news, thanks forjoining us. why is there so little love for bidenomics among the electorate? bidenomics among the electorate? bidenomics me a lot of different things. but i think to the average person, it is, what are they feeling right now? inflation is coming down, core inflation is still between 4% and 5%, more than twice what it normally is, so everyone is pulver and i think a lot of people blame a lot of the spending and stemless that happened, which biden credits for the labour market, and also feeling poor. energy prices have come down, they are also blooming for trying to move away from fossil fuels and they see that as could you been to energy prices increasing fairly or not. been to energy prices increasing fairly or not-— fairly or not. what is it, do you think, that _ fairly or not. what is it, do you think, that voters _ fairly or not. what is it, do you think, that voters or _ fairly or not. what is it, do you think, that voters or the - fairly or not. what is it, do you i think, that voters or the american people want to see from president biden if it is not continuing on this road? i
bidenomics is working. 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. today, the us has the highest economic growth rate, leading the world economies since the pandemic, the highest in the world. applause as dick said, with his help, we've created 13.4 million newjobs, more jobs in two years than any president has ever made in four, in two. and, folks, it's no accident. that's bidenomics in action. bidenomics is about building an economy from the middle out and the bottom up, not the top down. with me now is allison schrager, who is an economist, writer and a senior fellow