Depending on which political side of the spectrum you are on, "Bidenomics" is either the best thing to happen to the economy since the pandemic or an unmitigated disaster.
On Thursday, the Washington Post published a story claiming that President Joe Biden's economic agenda will help him in Sun Belt states like Arizona and Georgia, whose residents are some of the biggest beneficiaries of Biden's plan.
DON'T MISS: 'Shark Tank's' Kevin O'Leary Skewers Biden for 'Starving' Americans
But celebrity entrepreneur Kevin O'Leary has a different view. He sees "Bidenomics" as leaving small businesses behind.
The S&P 500 only employed 40% of domestic jobs, and Biden has left them behind, according to O'Leary.
"There's no Bidenomics for them. I can't find a single program out of all of those billions of dollars that have been printed, much of it not spent yet, that was initiated from Bidenomics," O'Leary said.
The big problem, according to O'Leary, is that after the Silicon Valley Bank collapse and the collapse of other banks during the bank runs earlier this year, smaller banks don't have the liquidity to lend to small businesses like they used to.
O'Leary is fundamentally against government intervention into business due to the threat of inflation.
"I personally think printing money causes inflation, doesn't matter what you call the Act," O'Leary said.
O'Leary has been very critical of Biden's economy in recent weeks.
"The problem with the policies so far...isn't just massive spending, but it's the target of where the spending went," O'Leary said in response to a clip played of Joe Biden claiming he lowered the U.S. deficit.
"What we haven't seen is the unintended consequence -- that, now, we're seeing -- which is that we're starving small businesses in America. We throw billions to Intel and nothing to a guy in Champaign Urbana, who's running a shop with 58 employees."
Watch the full interview with O'Leary below.
#Bidenomics has been fantastic for companies in the #S&P500, but how about #SmallBusiness that represents over 60% of domestic job creation? Where is the support for them at a time when rates are rising and #RegionalBanks are drying up as a source of liquidity? Bad policy! pic.twitter.com/jqCtWaCwE8
— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) July 20, 2023
