MSNBC’s Lawrence O'Donnell and OMB director hail 'Bidenomics' as a victory for 'the middle class'

29 June 2023

When the Wall Street Journal's right-wing editorial board used the term "Bidenomics" to describe President Joe Biden's economic agenda in 2021, they meant it in a negative way. But these days, Biden is openly embracing the term on the campaign trail — arguing that "Bidenomics" has given the United States its lowest unemployment rates in over half a century and makes a strong case for reelecting him in 2024.

Liberal MSNBC host Lawrence O'Donnell praised the president's "Bidenomics" messaging during a late June broadcast, drawing a parallel between that term and the term "Obamacare." O'Donnell noted that just as "Obamacare" went from being a GOP attack on the Affordable Care Act of 2011 to being a term that Democrats proudly embrace, Biden has every right to brag about "Bidenomics."

During the segment, O'Donnell discussed "Bidenomics" with Shalanda Young, director of the Office of Management and Budget (OMB). And Young stressed that "Bidenomics" reflects the president's heavy focus on the United States' middle class.

Young told O'Donnell, "This ethos, Bidenomics, is not new to me because it's been throughout our budgets. Who do you value in this country? Where do you think the source of strength and pride are in this country? It's in the middle class. And that's why you've seen investments come out of this White House. This administration (is) focused on the middle class, making sure that we grow from the middle out and the bottom up."

Young added, "It's kind of easy to work for a president when the economic ethos is simple: What can we do to build the middle class? Because trickle down, frankly, has not worked an economic principle in this country for everyone."

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