Speaker Johnson: ‘It Is Bidenomics That Got Us Into This Mess’

To fully evaluate Johnson’s claim, it is important to consider the broader economic landscape:

The COVID-19 pandemic caused historic disruptions.

Both Republican and Democratic administrations approved massive stimulus packages.

Global supply chains were strained.

The Federal Reserve raised interest rates aggressively to combat inflation.

The interplay between fiscal policy (government spending and taxation) and monetary policy (interest rates and money supply) complicates any effort to assign blame solely to one administration or one law.

Economists remain divided over how much of the inflation spike can be attributed to the American Rescue Plan versus global supply shocks.

Voter Perception vs. Economic Data