Milwaukee City Wire

Wisconsin Rep. Mike Gallagher released a statement criticizing President Biden's economic policies known as "Bidenomics". His statement coincided with President's visit to Wisconsin last week, where he spoke on his economic policies.

"Wisconsinites aren’t buying what the President is selling because they can’t afford it," Gallagher said. "Across the state, “Bidenomics” has crushed the pocketbooks of hardworking Wisconsinites and made everything from groceries to gas to homeownership more expensive. If anything, I hope President Biden leaves Milwaukee with a healthy dose of Wisconsin common sense and starts working with House Republicans on ways to unleash American energy and lower costs for Americans."

Biden visited Milwaukee on August 15, marking his sixth trip to the state since assuming the presidency. During his visit, the President discussed the economy and the impact of "Bidenomics," which is met with disfavor by a significant number of Americans, and its efforts to rectify the nation's economic state through investments in America. This visit happened just ahead of the first Republican debate, which will also occur in Milwaukee this week, according to Fox 6.

President Biden dedicated a total of two hours to visiting the clean energy manufacturer Ingeteam. During his time there, he engaged in discussions about various initiatives, including the Chips and Science Act, the bipartisan Infrastructure Law, the American Rescue Plan, and the Inflation Reduction Act (IRA), all as part of his promotional efforts related to Bidenomics, according to Fox 6.

President Biden's overall approval rating has significantly declined from 62% in 2021 to 40% this year, including his handling of the economy alone, dropping from 60% to 34%. Biden's declining approval rating can be attributed to concerns about inflation and economic issues. However, he maintains that his "Bidenomics" policies are effective, according to CBS News.

In a recent study by Bank of America, the number of individuals opting for a hardship withdrawal from their 401(k) accounts surged by 36% in the second quarter of this year compared to the second quarter of 2022, totaling 15,950 withdrawals. Additionally, the New York Fed revealed that credit card debt among U.S. households has crossed the milestone of $1 trillion for the first time, according to CNN.

"Bidenomics isn't working," said Wisconsin Rep. Bryan Steil, according to Twitter. "Wisconsin families are spending $709 more every month than they did two years ago. President Biden’s visit today is just a reminder that everyone is paying more for their everyday needs after the Inflation Reduction Act passed."