America is the fastest growing major economy. Thanks "Bidenomica"

 The US is the fastest-growing major economy in the post-pandemic period thanks to Bidenomica, President Joe Biden said in Chicago on Wednesday during a speech on his economic policy. He added that his policy, based on investments in American industry, education and infrastructure, is a "fundamental break" with the current "drip theory".

Biden stated that while he didn't create the term "Bidenomics" (the Wall Street Journal did), he would use it. At the same time, he contrasted his approach to "Reaganomics" with the "drip theory", i.e. an approach favoring the richest in the belief that benefits - eg lower income - for them "drip" to the lower classes. Biden describes his approach as developing the economy "from the inside out and from the bottom up, instead of just top down."

Biden also summarized the main pillars of his policy and his achievements to date, including increased investment in education and research, multi-billion public investment in infrastructure, the semiconductor industry and green technologies, and support for labor unions.

He contrasted it with the current approach, which he believed had caused industries to flee abroad, wreak havoc on entire communities and cities, and cut investment, making America lose ground in key areas such as semiconductor manufacturing, infrastructure, and research spending.