United States: In an effort to win over Americans dissatisfied with the state of the economy as a whole, President Joe Biden will try to establish a clear distinction between his biggest legislative accomplishments and shovels in the ground on Wednesday. He will also draw a direct comparison with Donald Trump.
Biden vs. Trump’s Economics
Hereby the president Biden plans to announces the investment of USD3.3 billion investment from Microsoft to build a new artificial intelligence facility located on the same site where, in 2018, then- president Trump broke the ground on what was supposed to be a signature project under his administration: an electronics factory of Taiwan’s Foxconn, which had secured billions in tax and credits that have been promised thousands of jobs.
Most of the investments didn’t pay off. And according to a White House official, Biden intends to specifically blame Trump for that setback in his speech on Wednesday.
Racine County’s Economic Uncertainty
Through several whipsaw elections, the vast region of Racine County, sandwiched between Chicago and Milwaukee, has been the focus of a heated local political discussion about growth. Nearby residents and workers told CNN that while they were pleased to see the developments and the employment, there was no assurance that their personal financial concerns would be eased.
“We don’t know what will happen with interest rates or the economy as a whole, so things are really uncertain,” said Dave Flannery, whose family runs the Apple Holler farm and orchard a short distance from the location of Biden’s scheduled visit on Wednesday. “In terms of our future, I’m personally very optimistic, but sometimes it’s really scary out there.”
Local Views on Biden’s Plans
One of Tom Osterhaus’s main complaints about the Biden administration is inflation. His family runs Cozy Nook Farm, which is located around one hour away from Waukesha. He expressed disapproval of Trump and expressed his desire for a Republican successor, but he would gladly go back to the Trump administration’s economic initiatives.
“When you pay the bills, it’s like, ‘Wow, it’s all gone,'” Osterhaus said. “You get your paycheck and it looks good.” “Inflation is, in my opinion, the main economic issue.”
When asked if it was appropriate to hold Biden solely responsible, Osterhaus responded, “They are the administration that’s in power.”
Biden informed his Democratic colleagues at the beginning of his tenure that he intended to be the “most progressive president since FDR,” the man who created the New Deal.
Fox host: President Biden is announcing today a new investment in Wisconsin that is creating thousands of jobs. Isn’t that the same land where Trump promised a big plant that never happened?
Fox reporter: Yes it is pic.twitter.com/Mj5zPsOeju
— Kamala HQ (@KamalaHQ) May 8, 2024
Biden’s Progressive Agenda
Biden’s forthcoming fourth trip to Wisconsin underscores the state’s vital part in his reelection strategy, as it’s part of the so- called blue wall along with Michigan and Pennsylvania. Although Trump won these countries in 2016, Biden flipped them in 2020, albeit by narrow peripheries. The key to win in 2024 is seen as appealing to moderates without alienating the party’s base. There’s debate within the Biden camp about how progressive his approach should be, with some emphasizing the need to strike the right balance. still, others argue that Biden’s program has garnered support from both pious party pickers and independents, suggesting that he doesn’t have to choose between a progressive or moderate path.
Taxing the Wealthy and Student Loans
Biden, initially pledging not to vilify the wealthy, shifted towards advocating for policies taxing the rich after forming a “Unity Task Force” with progressive economists. Notably, his stance on student loan forgiveness evolved from limited support to endorsing income-based forgiveness, canceling significant government loans. Despite facing hurdles, such as Supreme Court blocks, Biden utilized regulation and agency powers to cancel a portion of student debt. This shift reflects Biden’s growing focus on economic issues, including those popular among younger voters, although the ultimate impact on voter support remains to be seen.
