By While unemployment rates go up, inflation lingers, and the stock market crashes, Kamala Harris has decided to double down on Bidenomomics.
She’s long said she’s proud of Biden’s economic plan:
“Bidenomics. Ha ha ha ha! That is called Bidenomics — and we are very proud of Bidenomics!”
— Kamala Harris#KamalaCrash pic.twitter.com/JwXWeePr1m
— RNC Research (@RNCResearch) August 5, 2024
Now she’s taking the architect of “Bidenomics” and making him a centerpiece of her campaign, writes The Associated Press.
Sperling will be a senior economic adviser to Harris’ policy team. The shift was revealed by White House officials who spoke on condition of anonymity to discuss personnel matters.
Sperling served both Bill Clinton and Barack Obama as director of the White House National Economic Council. President Joe Biden Biden tasked him with managing his $1.9 trillion pandemic aid package, a role in which Sperling implemented the temporary expansion of the child tax credit. He was also the White House liaison to the union and car companies during the auto strikes.
“Under Gene’s leadership, the American Rescue Plan has delivered economic relief to cities and counties across the country, protected millions of union pensions, made the largest-ever federal investment in public safety, and kept thousands of small businesses afloat,” Biden said in a statement obtained by The Associated Press.
Sperling first worked with Harris when she was California attorney general during his time in the Obama administration. He frequently consulted with her as an outside adviser when she was in the Senate. The two partnered during the Biden presidency on promoting the monthly payments for the child tax credit, among other policies.
Sperliing’s move to Team Kamala will only further validate Donald Trump’s attack against his against his opponent’s economic record.
Fox News noted that “the Trump campaign is calling Vice President Kamala Harris President Biden’s “co-pilot” in the “Bidenomics” that led to the poor July jobs numbers, which brought the unemployment rate in the U.S. to the highest level in nearly three years.
The U.S. Department of Labor on Friday reported that employers added 114,000 jobs in July, missing the 175,000 gain forecast by LSEG economists. The unemployment rate also unexpectedly inched higher to 4.3% against expectations that it would hold steady at 4.1%.
‘Kamala Harris has proudly and repeatedly celebrated her role as Joe Biden’s co-pilot on ‘Bidenomics,’ Trump campaign national press secretary Karoline Leavitt said Friday. ‘She cast tie-breaking votes in the Senate for spending that put inflation on steroids, and despite the evidence that America’s working families are hurting, she tells us these failed plans are working.’
Leavitt added: ‘The basic necessities of food, gas and housing are less affordable, unemployment is rising, and Kamala doesn’t seem to care.'”
The lackluster jobs report and the dumping of the stock market portend a recession in the near future, former Federal Reserve economist Claudia Sahm has warned.
‘It Triggered’: Economist Who Created Recession Indicator Sounds Alarm After Dismal Jobs Report pic.twitter.com/xbIXfiUH2o
— Daily Caller (@DailyCaller) August 2, 2024
Trump has taken to calling the downturn in the economy the Kamala Crash.
The Washington Post explained that “global markets slid Monday as fears of a slowing U.S. economy sparked investor panic, resulting in some of the most intense volatility Wall Street has seen in years.
The Dow Jones Industrial Average had slumped nearly 900 points, or 2.2 percent, shortly after noon, while the broader S&P 500 shed 2.5 percent. The tech-heavy Nasdaq erased 2.9 percent. The sell-off builds on the turbulence playing out in global markets that sent Japan’s benchmark Nikkei 225 index to its biggest single-day drop on record. Cryptocurrencies also plunged, with bitcoin moving 7.4 percent lower.
Analysts said the sell-off is a reaction to worrisome economic data last week that moved the Nasdaq into correction territory on Friday after nearly a year of gains. Adding to the volatility is a spate of bad financial results from the tech sector and currency gyrations abroad. Still, even with the recent losses, the three major U.S. indexes remain positive for the year.”
The Trump campaign has released a hard hitting attack ad tying Harris to Bidenomics.
Thanks @KamalaHarris …Bidenomics isn’t working pic.twitter.com/0FdPaUdwNG
— Chris LaCivita (@LaCivitaC) August 5, 2024
According to a poll by The Wall Street Journal taken July 23-25, Trump leads Harris on confidence regarding the handling of the economy by 12 points, with Trump at 52 percent to Harris’s 40 percent.
[Read More: Kamala Gets Slammed For Avoiding Any Tough Questions]
