Former President Donald Trump took aim at President Joe Biden’s economic policies, touting his own previous administration's agenda and pledging to create a “bigger and better” economy if he retakes the White House.
“One of the most important issues in this campaign will be who can rescue our country from the burning records of Bidenomics, which shall henceforth be defined as inflation, taxation, submission, and failure,” Trump said in a video posted to Rumble on Wednesday.
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Biden and his Democratic allies have been touring the nation recently in celebration of the one-year anniversary of the Inflation Reduction Act and boosting his economic plans, dubbed 'Bidenomics.'
Following the U.S. economy's boost in the second quarter of the year, Democrats have been highlighting manufacturing growth and clean energy jobs created by the Biden administration. However, Trump says the positive numbers are merely a result of the work done during his presidency.
“On day one, the Biden economic bust will be replaced with the historic Trump economic boom,” Trump said. “Any numbers you see that are economically positive in the Biden administration are because they're running on the fumes of what we created years prior to their taking office.”
Trump rattled off multiple statistics, comparing his administration's economic numbers to Biden's, stating gas prices, mortgage rates, and inflation were down under his presidency.
“Under Biden, real incomes have gone down by $7,400 per family," Trump said. "Under President Trump, yearly income went up by more than $6,000.”
Trump claimed the Biden administration created 2.1 million new jobs during his first 30 months in office, while he created 4.9 million new jobs during the same period, an argument the current GOP front-runner has made in the past. According to PolitiFact, Trump’s numbers are off base and don't account for the number of job losses under his administration due to the pandemic.
Days after being indicted, Trump headlined the Silver Elephant Gala at the South Carolina State Fairgrounds, where he introduced his own interpretation of Bidenomics in a similar speech.
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Trump is campaigning against Biden ahead of the 2024 election while battling on multiple legal fronts. Earlier this month, he pleaded not guilty to four felony charges that accused him of trying to overturn the results of the 2020 election. A few weeks later, he was indicted for a fourth time in Georgia under the state’s RICO Act.
“We will end Biden economics and the disastrous Biden era — the most incompetent president we've ever had will soon be over,” Trump concluded. “We will do it quickly, we will do it effectively, and we will make America great again.”