Former President Donald Trump made a bold declaration during a massive beach rally in Wildwood, New Jersey, as reported by the Washington Examiner on Sunday, May 12, 2024. Speaking to a crowd of over 100,000 supporters, Trump promised to replace what he termed “Bidenomics” with his signature economic approach, “MAGAnomics,” on his first day back in office if elected in November.
Trump criticized President Joe Biden’s economic policies, particularly focusing on the financial hardships faced by New Jersey residents under the current administration.
He stated, “On Day One, we will throw out Bidenomics and we will reinstate MAGAnomics,” emphasizing his intent to revive manufacturing, tourism, and other industries in New Jersey through MAGAnomics.
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Trump highlighted the economic strain experienced by the average New Jersey family, citing a loss of $23,381 over the past three years due to what he labeled the “Biden inflation tax.” He pointed to significant price increases in everyday items such as hot dogs, chicken, hamburgers, soda, eggs, gasoline, and bacon.
Expressing concern over what he termed “devastating” inflation figures, Trump warned of the risks posed by inflation and attributed rising energy prices to the current administration.
Regarding taxes, Trump accused Biden of planning substantial income tax hikes and pledged to deliver significant tax cuts across all income brackets and for businesses, framing it as the largest tax cut ever proposed.
Trump also vowed to halt what he termed the “Biden spending spree,” the “green new scam,” and the “inflation death spiral.” He warned of a potential stock market crash akin to the Great Depression if he were to lose the election.
In terms of energy policy, Trump pledged to increase domestic energy production, criticized Biden for escalating energy costs, and claimed that high oil prices benefited Russia.
Trump accused Biden of attempting to abolish suburbs in New Jersey and negatively impact property values and wealth. These claims were supported by Rep. Jeff Van Drew, who highlighted the financial strain on New Jersey residents.
Attendees at the rally expressed concerns about inflation, employment, and purchasing homes in the current economic climate, with many hoping for a return to MAGAnomics under Trump’s leadership.
As the 2024 election nears, Trump’s economic promises resonate strongly with his base, promising a potential resurgence of economic prosperity reminiscent of his previous administration’s successes.
