The U.S. economy is beating the world, thanks to Joe Biden, but you wouldn't know it from the media
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The U.S. economy is expanding at a 7% rate over the last three months, up by 5% from the beginning of the year. That number isn’t just three times the expected growth rate in Europe, it almost doubles the rate of growth in China. As reported in ThThe U.S. economy is beating the world, thanks to Joe Biden, but you wouldn't know it from the media
The U.S. economy is expanding at a 7% rate over the last three months, up by 5% from the beginning of the year. That number isn’t just three times the expected growth rate in Europe, it almost doubles the rate of growth in China. As reported in The Wall Street Journal, the U.S. economy is genuinely a world-beater. It’s doing so well that for the first time in years, “The force of the American expansion is also inducing overseas companies to invest in the U.S., betting that the growth is still accelerating and will outpace other major economies.” Less than two months into his presidency, Biden pushed through the American Rescue Plan. That plan provided emergency payments to every American, an increase in the Child Tax Credit, extended unemployment payments for those nearing the end of their benefits, lowered the cost of health care subsidies, picked up 100% of COBRA costs, and offered a host of benefits for small businesses that included outright grants. It took the better part of a year to get the Infrastructure Investment and Jobs Act through Congress, but by that point the economy—bolstered by Biden’s policies, a renewed confidence from business leaders, and a robust rollout of vaccines against COVID-19—had cut unemployment numbers by a full 2%. Rolling into the holiday season, America is enjoying record low levels of unemployment and levels of economic growth that exceed the wildest unfulfilled promises of Donald Trump. But at the same time, CNN reports that President Biden’s approval levels for handling the economy are at record lows. The best economy in 50 years enjoys just a 44% approval rating. Because a disaster-addicted media will find disaster, even if it has to create it. Read more