Will Bidnomics Win the Battle of the American Working Class?

If that happens, the question on everyone’s mind will be whether President Joe Biden and his predecessor Donald Trump will run for president again. If they do, as is being talked about, some would expect President Biden to maintain the lead he last held in 2020; His rating often goes below Trump’s.

Democrats have campaigned on abortion rights, and sought to characterize Republicans as extremists who would steer the government in a direction dangerous to democracy (On January 6, 2021, a violent mob of Trump supporters stormed Capitol Hill. , broke into the hall of the US Congress, demanding to overturn a Democratic election by withholding formal certification of Biden’s victory).

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But annual inflation is running just over 8% in a country where inflation hasn’t been that high in the 40 years or so many voters’ lifetimes. Biden’s failure to control inflation (though it is now largely dependent on the US Fed to fight inflation) is said to be weighing heavily on voters’ minds. Tough contests are expected in some states which will ultimately decide which party will be in power in January.

The fight to win the American working class has been going on since 2016, when Trump’s “build-the-wall” theme was second only to the emotional appeal of “job, job, job.” Promising them secure, high-paying manufacturing jobs, he called on working-class Americans to hate liberals instead of bankers, to hate China instead of corporate America.

The overall emphasis of the Biden administration’s economic policy has been on the two biggest long-term threats facing the US: the rise of an autocratic China, and the growing threat of climate change. Pro-activist bias has been one of the key tenets of bidenomics.

How good the policy choices will prove to be, especially with the heavy dose of protectionism, and the undeniable contribution of post-Covid spending stimulus to high and stubborn inflation can be debated. Still, the Biden administration has gone beyond bombastic and sloganeering, and has strived for a pro-Labor record in its legislative agenda, trade policy, and appointments, such as the National Labor Relations Board, where Trump’s appointments were replaced with former Given is the labor union leaders who are manipulating the labor union elections, and paying the workers less.

In fact, Biden has garnered a reputation for being one of the most pro-Labor US presidents since Franklin D. Roosevelt. Unions, he said on his first Labor Day in office, were necessary to counter corporate power. When warehouse workers in New York City voted this summer to form a first-ever trade union at Amazon, the second-largest US private employer, the White House’s response was that the president believes every worker should be unionized. There should be free choices to make.

The omnibus labor bill, the Protecting Rights to Organization Act that Biden campaigned for, was passed by the House where the Democratic Party is in a majority (but not the Senate). The Inflation Reduction Act seeks to reduce prescription-drug costs for Medicare recipients, create infrastructure jobs, advance green energy, and increase taxes on large corporations. The Chips and Science Act aims to tackle microchip shortages and encourage American manufacturing.

The Biden administration’s trade policy, which it calls “worker-centered”, aims to save American jobs, including manufacturing-focused protectionism and “Buy America” ​​rules that would have required the use of American iron and steel, for example. Is.

There is an increasing number of private sector workers in the United States who are trying to unionize. In addition to Amazon, there are staff events at Starbucks, Chipotle, Apple, Trader Joe’s.

President Biden-signed economic bills on infrastructure, semiconductors and the environment plan to spend $1.7 trillion, with billions of dollars in subsidies and tax credits earmarked for US firms. The Economist magazine calls these policy moves beyond anything seen since Congress threw its weight behind America’s car and chipmakers in the 1980s.

However, the inflationary crisis will test the patience of voters for the Democratic Party.

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