Biden’s ambitious plans for U.S. manufacturing were overshadowed by immediate economic concerns like inflation, leading to significant electoral defeats for Democrats.
Despite passing legislation that aims to transform economic sectors over the coming years, voters are currently disillusioned by the slow realization of tangible benefits.
Officials are reflecting on the political consequences of their industrial policies, noting that the focus on future gains did not resonate with voters facing current economic hardships.
The administration’s initiatives, compared to a New Deal, aim for long-term growth but struggled to gain traction amid pressing issues like high inflation and mortgage rates.
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