President Biden plans a relentless focus on the economy during his re-election race, even as much of the public doubts the country's direction. It’s a high-risk, high-reward strategy.
President Biden is preparing to run for re-election with a relentless, aggressive focus on the economy — convinced the data cuts in his favor, even as vast swathes of the public remain skeptical that conditions have improved.If GDP holds steady and the record unemployment stays low, Biden plans to ride a healthy economy to a second term.
But if the economy enters a deep recession before November 2024, the president will have spent precious political capital demanding credit when voters might be more inclined to hand out blame.Biden, who hasn't made a formal decision to run for re-election, will on Tuesday take his message of economic optimism to Virginia Beach, where he'll also hammer Republicans for wanting to repeal his signature Inflation Reduction Act.
"We think the underlying numbers about consumer spending and business investment are also positive," he said. "They show that people have a lot of confidence in their financial condition and where the economy is headed." “As we’ve always said, we expect there to be some bumps along the way as we transition to steady and stable growth."
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