MSNBC Segment Celebrates ‘Bidenomics’: ‘It Really Is Morning in America Right Now’

WALLACE With Republicans in ░░░░░░░░ mad dash to the ░░░░░░░░ of U S politics ░░░░░░░░ Joe Biden s bet ░░░░░░░░ that voters will be ░░░░░░░░ on the country s ░░░░░░░░ improving economy With news ░░░░░░░░ week that the Bidenomics ░░░░░░░░ s formula for strong ░░░░░░░░ growth from the bottom ░░░░░░░░ is not only driving ░░░░░░░░ surge in the U ░░░░░░░░ economy and a boom ░░░░░░░░ large scale infrastructure it ░░░░░░░░ so much greater than ░░░░░░░░ the experts in economic ░░░░░░░░ expected it to be ░░░░░░░░ Stanley is crediting Biden ░░░░░░░░ Infrastructure and Jobs Act ░░░░░░░░ forcing that bank to ░░░░░░░░ a sizable upward revision ░░░░░░░░ its U S gross ░░░░░░░░ product estimates and its ░░░░░░░░ U S equity strategist ░░░░░░░░ admitted to clients this ░░░░░░░░ according to MarketWatch that ░░░░░░░░ rally for growth has ░░░░░░░░ further and persisted longer ░░░░░░░░ we anticipated I E ░░░░░░░░ were wrong The Biden ░░░░░░░░ House telling CNBC this ░░░░░░░░ report confirms what we ░░░░░░░░ long said Our strong ░░░░░░░░ resilient economy is Bidenomics ░░░░░░░░ action The president s ░░░░░░░░ agenda is spurring investments ░░░░░░░░ manufacturing and infrastructure that ░░░░░░░░ creating jobs and supporting ░░░░░░░░ Let s bring in ░░░░░░░░ York Times senior writer ░░░░░░░░ Leonhardt and Democratic strategist ░░░░░░░░ and founder of Brilliant ░░░░░░░░ Research Cornell Belcher David ░░░░░░░░ know you tracked this ░░░░░░░░ a longer stretch than ░░░░░░░░ campaigns sort of thrust ░░░░░░░░ issues into focus when ░░░░░░░░ s something that the ░░░░░░░░ sides are wrangling about ░░░░░░░░ this is sort of ░░░░░░░░ tortoise and a hare ░░░░░░░░ The Biden economic message ░░░░░░░░ a message and then ░░░░░░░░ was legislation and then ░░░░░░░░ saw Republicans on the ░░░░░░░░ with Biden in case ░░░░░░░░ worked talking to you ░░░░░░░░ McConnell and now you ░░░░░░░░ the results Take me ░░░░░░░░ how you see this ░░░░░░░░ LEONHARDT Well first of ░░░░░░░░ let me just say ░░░░░░░░ to Morgan Stanley for ░░░░░░░░ We were wrong I ░░░░░░░░ everyone s wrong sometimes ░░░░░░░░ not everyone is willing ░░░░░░░░ say We were wrong ░░░░░░░░ I just first want ░░░░░░░░ note that And I ░░░░░░░░ the way you sketched ░░░░░░░░ out Nicolle is exactly ░░░░░░░░ which is these kinds ░░░░░░░░ policies do not have ░░░░░░░░ immediate effect and it ░░░░░░░░ seem like President Biden ░░░░░░░░ economic agenda is mostly ░░░░░░░░ I think the tricky ░░░░░░░░ is that we ve ░░░░░░░░ we are on the ░░░░░░░░ have now had four ░░░░░░░░ or so of mostly ░░░░░░░░ economic trends for most ░░░░░░░░ Americans without a four ░░░░░░░░ college degree and that ░░░░░░░░ not going to turn ░░░░░░░░ in a few months ░░░░░░░░ if the current numbers ░░░░░░░░ good And so I ░░░░░░░░ it s unlikely even ░░░░░░░░ the current numbers stay ░░░░░░░░ I think it s ░░░░░░░░ that President Biden is ░░░░░░░░ to be running for ░░░░░░░░ election at a time ░░░░░░░░ people feel great The ░░░░░░░░ is will they feel ░░░░░░░░ enough to re elect ░░░░░░░░ WALLACE And I guess ░░░░░░░░ my question for you ░░░░░░░░ sort of a journalist ░░░░░░░░ this the economy is ░░░░░░░░ enough to your point ░░░░░░░░ Morgan Stanley said We ░░░░░░░░ wrong it s better ░░░░░░░░ we projected it would ░░░░░░░░ Our business model lies ░░░░░░░░ accurately predicting the strength ░░░░░░░░ weakness of the economy ░░░░░░░░ we got it wrong ░░░░░░░░ s certainly enough for ░░░░░░░░ Biden to run on ░░░░░░░░ it better isn t ░░░░░░░░ LEONHARDT Oh absolutely Absolutely ░░░░░░░░ think the darkest trends ░░░░░░░░ the U S economy ░░░░░░░░ Biden predated his presidency ░░░░░░░░ and I think that ░░░░░░░░ the whole his economic ░░░░░░░░ is a real accomplishment ░░░░░░░░ him and I think ░░░░░░░░ s absolutely legitimate for ░░░░░░░░ to make it a ░░░░░░░░ of his re election ░░░░░░░░ WALLACE So Cornell I ░░░░░░░░ to establish that before ░░░░░░░░ talked to you because ░░░░░░░░ used to tease Ron ░░░░░░░░ on the air and ░░░░░░░░ that the Biden economy ░░░░░░░░ like the Rodney Dangerfield ░░░░░░░░ economies they couldn t ░░░░░░░░ any respect for the ░░░░░░░░ that they had done ░░░░░░░░ you knew it was ░░░░░░░░ because Republicans latched onto ░░░░░░░░ Republicans lied about supporting ░░░░░░░░ pieces of it some ░░░░░░░░ didn t lie they ░░░░░░░░ hopped on Air Force ░░░░░░░░ to go and share ░░░░░░░░ for it But it ░░░░░░░░ a sort of true ░░░░░░░░ that Biden can run ░░░░░░░░ the economy BELCHER Well ░░░░░░░░ you would think it ░░░░░░░░ be simple but it ░░░░░░░░ not It s actually ░░░░░░░░ complicated And if you ░░░░░░░░ at the headlines today ░░░░░░░░ should be flooding the ░░░░░░░░ with this right from ░░░░░░░░ for the next two ░░░░░░░░ today tomorrow next day ░░░░░░░░ Democrat should be flooding ░░░░░░░░ box with this right ░░░░░░░░ is a headline that ░░░░░░░░ certainly should see in ░░░░░░░░ right that the Biden ░░░░░░░░ economic policies have basically ░░░░░░░░ an economic boon There ░░░░░░░░ t be a Democrat ░░░░░░░░ television talking about anything ░░░░░░░░ Nicolle And why we ░░░░░░░░ Democrats on television talking ░░░░░░░░ other things I don ░░░░░░░░ understand This is I ░░░░░░░░ this is part and ░░░░░░░░ of the problem that ░░░░░░░░ too often with us ░░░░░░░░ Democrats is we are ░░░░░░░░ message disciplined enough because ░░░░░░░░ is our number one ░░░░░░░░ going into re election ░░░░░░░░ just for context you ░░░░░░░░ in at the end ░░░░░░░░ summer going into the ░░░░░░░░ of 2011 going into ░░░░░░░░ s re elect you ░░░░░░░░ 74 according to The ░░░░░░░░ York Times polling 74 ░░░░░░░░ Americans felt the country ░░░░░░░░ on the wrong track ░░░░░░░░ the economy was absolutely ░░░░░░░░ By the way Nicolle ░░░░░░░░ was at 9 I ░░░░░░░░ 9 1 9 2 ░░░░░░░░ you had real economic ░░░░░░░░ happening We are not ░░░░░░░░ right now We are ░░░░░░░░ president this president can ░░░░░░░░ the case that he ░░░░░░░░ steered the ship away ░░░░░░░░ economic calamity he steered ░░░░░░░░ out of the economic ░░░░░░░░ the pandemic storm and ░░░░░░░░ now we have an ░░░░░░░░ that is the strongest ░░░░░░░░ the Western world And ░░░░░░░░ the economists on Wall ░░░░░░░░ who were doubtful about ░░░░░░░░ are now changing their ░░░░░░░░ Nicolle for the next ░░░░░░░░ if there is a ░░░░░░░░ who is on the ░░░░░░░░ and not talking about ░░░░░░░░ we are failing because ░░░░░░░░ frankly we have to ░░░░░░░░ perception about the economy ░░░░░░░░ have to talk up ░░░░░░░░ economy You know a ░░░░░░░░ months ago we were ░░░░░░░░ this conversation about whether ░░░░░░░░ know the team Biden ░░░░░░░░ were hesitant and leaning ░░░░░░░░ and talking up the ░░░░░░░░ My God Take away ░░░░░░░░ the hesitance Lean in ░░░░░░░░ talk about the economy ░░░░░░░░ really is morning in ░░░░░░░░ right now and they ░░░░░░░░ to they have to ░░░░░░░░ it because they have ░░░░░░░░ sell it to help ░░░░░░░░ feel it WALLACE I ░░░░░░░░ Cornell I feel like ░░░░░░░░ conversations for me always ░░░░░░░░ flesh out the bottom ░░░░░░░░ differences between being a ░░░░░░░░ and being a Democrat ░░░░░░░░ would run on it ░░░░░░░░ the facts supported it ░░░░░░░░ not What David is ░░░░░░░░ and what we are ░░░░░░░░ from Wall Street is ░░░░░░░░ the facts support it ░░░░░░░░ to your point Democrats ░░░░░░░░ t rally around a ░░░░░░░░ message How do you ░░░░░░░░ that BELCHER If I ░░░░░░░░ an answer to that ░░░░░░░░ I would be retired ░░░░░░░░ WALLACE You wouldn t ░░░░░░░░ to do shows like ░░░░░░░░ right You would be ░░░░░░░░ gazillionaire I get it ░░░░░░░░ I guess it s ░░░░░░░░ real difference in the ░░░░░░░░ parties Cornell BELCHER It ░░░░░░░░ But we got to ░░░░░░░░ look and there is ░░░░░░░░ the president is doing ░░░░░░░░ things right I am ░░░░░░░░ about the Emmett Till ░░░░░░░░ It s a big ░░░░░░░░ I am really excited ░░░░░░░░ that and we should ░░░░░░░░ talking about that But ░░░░░░░░ should from our congressional ░░░░░░░░ to our leaders in ░░░░░░░░ states we should all ░░░░░░░░ talking about what this ░░░░░░░░ is screaming That they ░░░░░░░░ it wrong the president ░░░░░░░░ his economic policies have ░░░░░░░░ America s economy the ░░░░░░░░ in the world and ░░░░░░░░ gotta keep going with ░░░░░░░░ Every one of us ░░░░░░░░ be talking about that ░░░░░░░░ From your lips Cornell ░░░░░░░░ Belcher David Leonhardt thanks ░░░░░░░░ you and your reporting ░░░░░░░░ this topic and everything ░░░░░░░░ keep us smart You ░░░░░░░░ us honest Thank you ░░░░░░░░