‘Bidenomics’ is making strides

OPINION:

In his column “’’Bidenomics’ is fueling inflation, creating affordability crisis for most Americans,” (web, Aug. 21) Newt Gingrich unrolls an all-too-familiar narrative, rewriting economic rules for political theater.

Regardless of one’s sentiments toward President Biden, evaluating success through consistent metrics is crucial. 

The Bipartisan Infrastructure Act — the cornerstone of Bidenomics — invests over $1 trillion in infrastructure, fostering private investment and economic growth.

This initiative doesn’t solely enhance physical infrastructure; it lays the groundwork for a landscape that supports small businesses, the lifeblood of our communities.

Bidenomics has yielded tangible outcomes, including reducing the unemployment rate to a remarkable 3.5%. Growth in gross domestic product consistently surpasses projections, dispelling inflation fears. This approach not only aids post-pandemic recovery, but safeguards against recession as well. 

What’s more, the Biden administration has overseen the creation of an impressive 13 million jobs since taking office. This is not merely a statistic; it serves as evidence of a comprehensive approach aimed at bolstering the economy across various sectors.

Notably, these sectors encompass manufacturing, transportation, construction and warehousing, where Hispanic workers over-index. This highlights the tangible impact of Bidenomics on our community.

Though critics such as Mr. Gingrich seek to discard commonly accepted economic metrics (which they themselves have used before), it’s the lasting impact of policies that reflects their true value.

JAVIER PALOMAREZ

CEO and president, United States Hispanic Business Council

Washington