What They Are Reading in the States: Bidenomics Is Growing the Economy from the Middle Out and Bottom Up—Not the Top Down

This week, local news organizations across the country are talking about Bidenomics following President Biden's major address in Chicago laying out his economic vision for the country. Bidenomics is rooted in the President's belief that the best way to grow the economy is from the middle out and bottom up—not the top down. It's a plan focused on making smart investments in America, empowering American workers, and promoting competition to lower costs for families and help small businesses.

Bidenomics is already delivering for American families. Since President Biden took office, the U.S. economy has added 13 million jobs — including nearly 800,000 manufacturing jobs – and the unemployment rate has been below 4% for 16 months, the longest stretch in 50 years.

Under the President's economic plan, the Biden-Harris Administration has committed billions to rebuilding our roads and bridges, sparked a resurgence in American manufacturing, and lowered prices on critical prescription drugs – all while lowering the deficit by a record $1.7 trillion in the President's first two years in office.

Please see below for a sampling of what they are reading in the states:

Chicago Tribune: Biden aims for middle-class voters as he discusses economy during Chicago address
Mr. Biden detailed a 15-year high in the number of people in the workforce, an unemployment rate that dropped below 4% years earlier than predicted following the COVID-19 pandemic, increasing wages and a decrease in the rate of inflation without a major recession […]] "Bidenomics is about building the economy from the middle out and bottom up — not the top down by making three fundamental changes," Mr. Biden said in his remarks. "First, making smart investments in America. Second, educating and empowering American workers to grow the middle class. And third, promoting competition to lower costs and help small businesses."

Chicago Sun Times: What is Bidenomics? The White House's new 'word of the year'
Bidenomics "is the word of the day, word of the week, word of the month, word of the year here at the White House," said principal deputy press secretary Olivia Dalton at the Tuesday briefing, the day before President Joe Biden delivers in Chicago a major address about — Bidenomics […] Just as Reaganomics found its way into dictionaries as a term to define President Ronald Reagan's trickle-down economic agenda, Biden's embrace and boosting of the word Bidenomics is his simple way of promoting his vision, as the White House says, "for growing the economy from the middle out and the bottom up, not the top down."

WLS-TV (ABC Chicago, Illinois): President Joe Biden delivers speech in Chicago on economy, attends fundraisers
Illinois Lt. Gov. Julianna Stratton said she believes Bidenomics is already helping people in Illinois.

"That is making sure that we not only rebuild our roads and bridges but also create jobs and that is something we have certainly benefitted from right here in Illinois, hundreds of thousands of jobs, good paying jobs, some of them that don't even require a college degree," Stratton said. "That's the way we continue to build our economy."

WGN-TV (Chicago, Illinois): Biden delivers 'Bidenomics' remarks in Chicago
The president is betting that targeted government investments can catapult the economy forward and help workers. During his first two years when Democrats controlled the House, Biden followed up on his pandemic relief by pushing through a bipartisan infrastructure building bill, funding for computer chip plants and tax breaks to encourage the use of renewable energy.

This approach goes back to Biden's own blue collar identity that surfaces in his speeches: the Scranton, Pennsylvania kid whose family at times just eked by financially.

WBBM-TV (CBS Chicago, Illinois): Biden visiting Chicago to discuss vision for U.S. economy, attend fundraiser
"Bidenomics is working," Biden said. "When I took office, the pandemic was raging and our economy was reeling." He framed his two-and-a-half years as a boon for the economy, citing infrastructure, technology, and employment, but the kitchen table issues tell a more complex story.

WBBM Newsradio (News Radio Chicago, Illinois): President drops in, touts 'Bidenomics' and attends political fundraiser in Chicago
President Joe Biden stopped in Chicago Wednesday to tout his economic agenda and attend a campaign fundraising reception hosted by Illinois Gov. JB Pritzker […] Biden sought to embrace the concept that Republicans have derisively labeled "Bidenomics." The president said he's simply celebrating products made in America and supports workers and consumers…Yes, he said, his agenda also calls for making the richest Americans pay more in taxes. Before the pandemic, there were 750 U.S. billionaires, Biden said.

Spectrum: With 'Bidenomics' push, president pitches public on his economic policies
In a major speech, President Joe Biden argued his guiding principle of growing the economy from the "middle out and the bottom up" is better than the often Republican-favored trickle-down approach […] Chair of the president's Council of Economic Advisers Jared Bernstein said in an interview with Spectrum News on Wednesday Biden's middle out, bottom up approach is built on three pillars: educating the workforce, promoting more competition and reinvesting in America…The unemployment rate stands near a historic low at 3.7% and the inflation that has plagued Biden's presidency has fallen to 4% from a peak of 9.1% last June.

Gray TV: President pulls three pillars of 'Bidenomics' in Chicago
The White House is calling it "Bidenomics", putting a name on what this administration insists is a historic economic recovery following the pandemic with low unemployment and millions of jobs added under President Biden's watch […] The president pitched his three-pillar plan before a friendly Chicago crowd: smart public investment, empowering and educating workers, and promoting competition. He argued trickle-down economics failed America. The president emphasized bringing manufacturing jobs back to the U.S. and going green with our energy.

Sinclair: President Joe Biden delivers remarks on the economy, points to labor market as foundation
During a speech in Chicago Wednesday, President Joe Biden made his record on jobs a base of "Bidenomics," the White House's agenda for "building the economy from the middle out and the bottom up."

"We've created over 13.4 million new jobs, more jobs in two years than any president has ever made in four," Biden said.

The Boston Globe: Biden embraces 'Bidenomics' label, gambling he can sell the economy to skeptical voters
He said there are three facets of his economic philosophy: investing in key American industries, such as clean energy and semiconductor manufacturing; educating and empowering workers; and promoting competition to lower costs. Biden highlighted legislation enacted during his presidency, such as the $1.2 trillion infrastructure law that is paying for thousands of new construction projects, and a bill that reduces the cost of prescription drugs, that are helping fulfill those goals. He noted the record 13 million jobs created since he took office and that the annual rate of inflation is now less than half the four-decade high set a year ago.

Los Angeles Times: Biden leans into economic message ahead of 2024
The latest economic numbers give the White House reason to boast. Unemployment remains at 3.7% while inflation eased to 4% from its high of 9.1% last June…Biden's speech follows a White House event on Monday that highlighted the more than $42billion allocated to states to spend on high-speed internet projects through the bipartisan infrastructure law he championed. California received nearly $1.9 billion as part of the program.

S.E. Daily Florida News: President delivers 'Bidenomics' address in Chicago
In a highly anticipated speech, President Biden delivered a comprehensive address on his economic vision, dubbed 'Bidenomics,' in Chicago yesterday. The President outlined ambitious plans aimed at revitalizing the economy and addressing the challenges facing American workers and families. Highlighting his administration's commitment to job creation, equitable growth, and combating income inequality, Biden's speech offered valuable insights into the policies and strategies that will shape his economic agenda. The President's address sought to provide a roadmap for a stronger and more resilient economy that benefits all Americans.