How is the economy doing under Biden? Pretty darn good actually. According to historian Heather Cox Richardson:
Added 10 million jobs
Dropped unemployment to a 50 year low of 3.5%
Added 700,000 manufacturing jobs
Cut the deficit $1.4 trillion – the largest cut ever
Cut the deficit $350 billion the year before
Trump rose the deficit every year in office
Ever since Reagan, Republicans have grown the deficit and Democrats have shrunk it
Reagan – $70 - 175bb increase
HW - to $300bb
Clinton - to ZERO
W - to $1.2 trillion
Trump - skyrocket
Biden - biggest reduction ever
But we about inflation? I don’t see how U.S. social and infrastructure spending caused 10% inflation in England and Germany. Inflation is a global response to the pandemic and the Putin war.
I know facts have very little influence on dogmatic political beliefs that but they do matter.
I was a believer in Reagan’s supply side economics for a couple of decades. But it really did not work to grow the economy and the middle class the way Bidens demand side economics does. Put money into the middle and lower classes and they spend it on the economy. Money going to the wealthy grows their wealth but doesn’t do much for the middle class or the economy.
