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Bidenomics: The Latest Memes
The term "Bidenomics" was coined to describe the economic policies of US President Joe Biden.
Bidenomics is a portmanteau of Biden and economics. The term was first used in a January 2021 article by The Wall Street Journal. The article described Bidenomics as "a mix of Keynesian stimulus, industrial policy, and social spending." Bidenomics has been compared to the economic policies of former US President Franklin D. Roosevelt, who implemented the New Deal during the Great Depression.
The term "Bidenomics" has been used to describe a variety of economic policies, including:
- The American Rescue Plan Act of 2021, which provided $1.9 trillion in stimulus spending
- The Infrastructure Investment and Jobs Act, which provides $1.2 trillion for infrastructure projects
- The Build Back Better Act, which provides $1.75 trillion for social spending and climate change initiatives
Bidenomics has been praised by some for its focus on economic growth and job creation. However, it has also been criticized by some for its high cost and potential impact on inflation.
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