President Joe Biden will deliver a speech on Thursday contrasting his economic policies, "Bidenomics," with the Republican"MAGAnomics" vision. Congress faces a looming government shutdown if a budget is not passed by September 30th. "MAGAnomics" includes cutting taxes for the wealthiest Americans and corporations, reducing social programs like Social Security and Medicare, and eliminating Medicare's ability to negotiate drug prices. The Biden administration argues these "MAGAnomics" policies are unpopular with most Americans and will gut support for millions of hardworking families. There is a standoff as more hardline Republicans in the House are demanding over $120 billion in additional cuts compared to the bipartisan budget deal Biden agreed to with House Speaker McCarthy earlier this year.