Presidential hopeful and Florida Gov. Ron DeSantis was highly critical of President Joe Biden's economic strategy — dubbed "Bidenomics" — which administration officials have begun touting more visibly ahead of his reelection campaign.
The governor and GOP presidential hopeful told Fox News's Maria Bartiromo on Sunday that, “Bidenominics really hearkens back to the late 1970s and the malaise of the Jimmy Carter era."
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"Fundamentally, it needs to be tossed out," said DeSantis. "You have to get spending under control. You have to open up American domestic energy production. We have an abundance of resources. Stop doing the Green New Deal. Let’s get serious about producing more oil and gas.”
DeSantis argued that Bidenomics means "you pay more for everything, your standard of living declines, you have less freedom, but the government has much more power, and they want to wield that power over the economy to advance a very liberal, political agenda."
At the root of Bidenomics, which is how the administration is selling his economic accomplishments, is the idea that the government must rebuild the economy from the “middle out and bottom-up” — a phrase repeatedly used by Biden on the campaign trail in both the 2020 and 2024 cycles.
“Bidenominics really harkens back to the late 1970s and the malaise of the Jimmy Carter era,” @RonDeSantis tells @MariaBartiromo.
— DeSantis War Room ???? (@DeSantisWarRoom) July 9, 2023
“Fundamentally it needs to be tossed out … You have to get spending under control. You have to open up American domestic energy production. We have… pic.twitter.com/7MvBcr6AT4
The White House pushed this effort in a memo from senior advisers in late June that continued prior efforts to paint the economic narrative as being under the control of Bidenomics, a catchall term referring to the policies implemented by the administration. The strategy counters Republicans who have hammered the president on economic problems, pointing to soaring inflation as a result of the very policies the president claims are helping bring inflation down.
The Biden administration announced new actions across multiple agencies on Friday intended to lower healthcare costs as part of its "Bidenomics" agenda.
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The Bureau of Labor Statistics reported on Friday that the economy added 209,000 jobs in June, which was below expectations of 225,000, and was the first report in months that came in below the consensus prediction.
Treasury Secretary Janet Yellen said on Sunday she does not believe a recession is looming, but said it wasn't "completely off the table."