In his Thursday speech, Biden will discuss budget cuts and the government shutdown

In a speech on Thursday, President Joe Biden will contrast his “Bidenomics” domestic programs with what the White House has nicknamed “MAGAnomics,” a reference as the two sides continue to argue over the budget and a potential government shutdown looms.

In the middle of a budget standoff in Congress, where hardline Republicans in the House of Representatives are seeking cuts too significant to pass the Democratic-controlled Senate, the president delivers his economic speech.

The twelve appropriations bills need to be passed by Congress and signed by Joe Biden in a little more than two weeks. If this isn’t done by September 30th, there will be a government shutdown, which will cause agencies to close and many crucial programs to be in jeopardy. Karine Jean-Pierre, the press secretary for the White House, slammed congressional Republicans on Wednesday for failing to achieve a compromise.

The shutdown shouldn’t occur, said Jean-Pierre. The task of Congress is to prevent a shutdown.

This year, there has been a second spending impasse. In the spring, House Republicans refused to raise the debt ceiling without making savings commitments. The current problem is that the conservative House Freedom Caucus wants to reduce spending for the fiscal year 2024 to $1.47 trillion, or approximately $120 billion less than what Vice President Biden and House Speaker Kevin McCarthy agreed to earlier this year.

Jean-Pierre said, “We’ve already decided. “A bipartisan consensus existed on how to proceed with the budget that they approved. Deal is deal, period. They ought to honour their commitments and maintain the integrity of the government.

Anita Dunn, a senior assistant in the White House, said in a document before the president’s address that the MAGAnomics idea that Biden will provide is based on the budget presented in June by the Republican Study Committee. Cutting taxes for the wealthiest Americans and corporations, making cuts to social safety net programs like Social Security and Medicare, and getting rid of Medicare’s ability to negotiate drug prices as well as the cap on insulin are the main components of the Republican plan that the administration is attacking.

The House Republicans have taken a very different approach, Dunn wrote, putting forward a series of reckless, partisan bills that would gut programs that millions of hardworking families depend on. “While the Senate is advancing bipartisan bills in line with the budget deal the president negotiated with Speaker McCarthy in June,” Dunn said.

In his speech, Biden will make the case that several of the policies are unpopular with regular Americans.

The White House will spend a significant portion of this fall promoting the MAGAnomics budget on their behalf, Dunn said. “House Republicans have understandably been reluctant to embrace the MAGAnomics budget. “[Biden] will use today’s speech to compare MAGAnomics with his economic vision and hold House Republicans accountable for the full MAGAnomics agenda.”