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The Foreign Affairs Interview

What Happened to Bidenomics?

Feb 13, 2025
Join Jason Furman, Aetna Professor at Harvard and former chair of the White House Council of Economic Advisers, as he dives into the complexities of Biden's economic policies. Furman highlights the stark disconnect between optimistic goals and voters' realities, linking this gap to Trump’s resurgence. He critiques the post-neoliberal delusion held by both parties and explores alternative approaches to tackle inflation and manufacturing struggles. The conversation also touches on the influence of private sector challenges and the vital role of industrial policy in national security.
47:41

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Quick takeaways

  • The Biden administration's economic success, marked by low unemployment and GDP growth, disguises underlying complexities impacting voter perceptions and behavior.
  • Critiques of Bidenomics highlight the need for a more realistic economic strategy that addresses the disconnect between ambitious goals and actual performance.

Deep dives

Economic Performance vs. Reality

The Biden administration's economic outlook, characterized by low unemployment and strong GDP growth, is critiqued for masking deeper complexities. This analysis reveals a disconnect between the administration's ambitious goals and the actual economic performance, which shapes voters' perceptions and experiences. The disparity in economic realities may have significant implications for political dynamics, including paving the way for a potential Donald Trump comeback. It emphasizes the need for a realistic reevaluation of economic strategies moving forward.

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