Biden's refusal to step aside could have economic impacts, expert warns

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President Biden is facing growing calls from within his own party to drop out of the 2024 presidential race, and one expert says his refusal to do so could impact the economy.

President Biden insists he will stay the course in pursuing a second term as commander in chief despite growing calls for him to step down as the presumed Democratic nominee, but one expert says the president's refusal to withdraw from the 2024 race could have economic implications.

With Biden, since COVID has calmed down, the spending has just continued and probably at an even higher pace," he said. "At a certain point, I think you have to start reeling in some of the government spending on some of these different programs and things that the Biden administration has had." "Higher taxes on corporations and the wealthy sound good to some, but they might scare off business investments," Cirksena said.

 

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