President Biden’s economy has thrived, defying the beliefs of some who compare it to the previous administration. Despite their claims, the United States experienced the best economic recovery from the pandemic compared to other major economies. Under Biden, jobs were added at a faster rate than his predecessors, including Trump. The Infrastructure Law and Inflation Reduction Acts have contributed to a 6.5% increase in manufacturing jobs under Biden, exceeding the 3.4% growth seen during Trump’s tenure.
Unemployment is currently below 4%, a low not seen in 50 years, and wages are rising faster than prices. Additionally, the stock market S&P 500 has reached an all-time high under Biden, benefiting middle-class investors and retirees. Medicare is now able to negotiate with drug companies under Biden, resulting in significant reductions in the cost of prescription drugs such as insulin.
While there are positive changes brought about by President Biden’s policies and initiatives, there is still work to be done. A tax overhaul is necessary to address the disparities created by Trump’s 2017 tax law, which predominantly benefits the wealthy. Research shows that households in the top 1% receive a tax cut of $60,000 while households in the bottom 60% only receive $500. It is important for everyone to conduct thorough research and evaluate the facts before comparing the economy under Trump to the economy under Biden.
Kenneth Peterson MAJ USA (Ret.) from Buchanan encourages readers to consider these positive changes brought about by President Biden’s policies and initiatives.
In conclusion, despite what some may believe, President Biden’s economy has flourished since taking office. The changes he has implemented have made our current state of affairs much better than before – even earning him praise from those who previously criticized him!
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