- Joined
- Jan 23, 2020
- Messages
- 8,748
- Reaction score
- 2,165
- Location
- Southern California
- Gender
- Male
- Political Leaning
- Independent
Still another telling fact that the Biden economy is doing just fine. It is just that Americans don't know it. Hard to believe, but most Americans think Trump did a better job on the economy, forgetting that a recession occurred in 2020, Trump's last year as President, although the recession was not his fault.The Biden economy has been on fire for several months. Essentially we have full employment and robust spending. Full employment combined with robust spending means prosperity.
Robust spending breeds inflation and higher prices. This is a logical conclusion, but beyond the understanding of most Americans.
However, recovery and record setting employment took place during the Biden administration.
Americans forget that, too.
ABC reports, "The number of Americans applying for jobless benefits last week inched up but stayed at historically low levels as the labor market continues to thrive despite elevated interest rates.
"Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week. They have remained at historically low levels since the pandemic purge of millions of jobs in the spring of 2020.
"The Federal Reserve raised its benchmark borrowing rate 11 times beginning in March of 2022. Many economists thought the rapid rate hikes could potentially tip the country into recession, but that hasn’t happened. Jobs have remained plentiful and the economy has held up better than expected thanks to strong consumer spending.
"In February, U.S. employers added a surprising 275,000 jobs, again showcasing the U.S. economy’s resilience in the face of high interest rates."
In February? Wow!
Those with a different point of view on the Biden economy, speak up. If you have given Biden low marks on the economy, please tell us why. Re-read the quote first.