Brunswick Beacon, 08.10.23
Americans are doing better financially than they were before the pandemic, and you can chalk much of this up to Bidenomics.
Checking and savings account balances are up to 10% to 15% higher now than in 2019, recent figures show. Although inflation is still a concern, earnings are growing faster. In turn, households are spending more and pumping that extra cash back into the economy, helping to nip recession fears in the bud. And the U.S. job market is strong.
The housing market is back on the upswing. Home prices are stabilizing, supply chains are improving, and demand remains high – as the surging home development throughout our area makes clear.
The President’s plan emphasizes growing the economy from the middle outward and the bottom up, instead of trickle-down policies that largely benefit big corporations and the under-taxed top 1%. Healthy competition among major corporations, higher wages for workers and lowered costs for consumers are key elements in the new economic approach.
Making smart public investments is a pillar of Bidenomics. That means investing in infrastructure, clean energy, electric vehicles, semiconductors, and innovation. That way, U.S. industries, the environment, the economy, workers, and families can all reap the advantages.
American manufacturing is on the upswing, with construction of facilities in the U.S. nearly doubling in the past two years. Communities throughout the country are involved in newly funded infrastructure and energy projects.
North Carolina is set to receive nearly $5 billion in Bipartisan Infrastructure Law funding to date, with more than 260 specific projects identified across the state. Here in Brunswick County, you only have to look around as you drive the roads, highways, and bridges – that's proof of Biden's infrastructure initiative at work.
Today, look at your bank account balances and your current job prospects and you’ll see that Bidenomics is really working.
Ron Veronese
Holden Beach