Obama, Clinton on why Americans don't love the Biden economy
Obama and Bill Clinton dug into an issue that has vexed economists, political strategists and the White House on Thursday — if the U.S.'s fiscal numbers are so good, why are Americans so unhappy about the economy?
Speaking at a high-dollar fundraiser for President Joe Biden at New York's Radio City Music Hall, Obama and Clinton urged thousands there to stick with the Democratic president for a second term, while trying to pin down the reasons economic concerns are high despite job growth, healthy spending and better-than-expected GDP increases.
There are «structural problems» that frustrate people, Obama said, including the suppression of unions. That's something Biden has specifically battled against, he said.
«If you're working hard, and your paycheck is getting stretched, beyond the breaking point, and you're worried about rent, and you're concerned about the price of gas, it's understandable,» Obama said.
The thing Biden and the people who support him need to communicate is: «Who do you think is actually going to look out for you?» Obama said. He made clear he did not think former President Donald Trump, the Republican presidential candidate, would meet that test.
Trump and Republicans have blamed Biden for high prices that hurt American pocketbooks in grocery stores, the housing market and other sectors of the economy. Biden has pointed to company profit-taking, lack of competition and argued that inflation is coming down but there is still more
