2024 Democratic presidential nominee Kamala Harris is vowing to fix the economy that her administration has wrecked, yet for the past four years, Americans have suffered from Bidenflation.
So, why should voters believe Harris’ economic plans would be any different from President Joe Biden’s?
Poll after poll found that the economy is America’s top concern heading into the November election.
Harris’ campaign is riding on “lower costs for American families.” However, under her previous administration, Americans struggled to put food on the table, pay their bills, and buy a house.
According to recent Producer Price Index data, the price of eggs shot up 147 percent from the time Biden was inaugurated in January 2021 to July 2024.
Data continually contradicts the Biden Administration's claims that inflation rates are down—and now, Harris wants the country to believe she will turn the economy around.
The Economist admitted what other left-leaning outlets refused to acknowledge: “Just because her strategy is understandable does not make it sensible.”
The outlet warns that Harris’ cost-of-living plan will end in turmoil and ruin Americans even more than the Biden Administration already has.
Her proposals risk taking America further down the road of self-defeating economic policies. Ms Harris’s cost-of-living plan may mark the start of a new phase in America’s worrying odyssey. The Democratic presidential candidate takes aim at four categories of costs: housing, groceries, medical and taxes. Although some of her ideas are good, many more would drive up prices—the exact opposite of their intended effect. Ms Harris has said that she will follow President Joe Biden’s plans to raise corporate-tax rates to 28%, from 21%, but to increase income taxes only on those earning more than $400,000 a year. Together, these changes would not generate enough revenue to cover the full cost of her agenda. The shortfall would add $1.4trn to America’s deficit over the next decade.
The outlet’s authors point out that Harris’ promises to fix the economy are nothing more than a restatement of Biden’s policies that have destroyed America.
According to a recent ABC News/Washington Post/Ipsos poll, former President Donald Trump has an economic advantage over Harris.
Trump leads Harris by nine points regarding the economy and inflation. Eighty-five percent of Americans say these are their top issues when voting in November.
Trump leads by 61- 33 percent among voters who rate the economy negatively. On the other hand, Harris leads by 89- 8 percent among those who rate it positively.