Last updated on July 18th, 2023 at 01:28 pm
President Biden is set to oversee an economy that will grow faster than any since Ronald Reagan in 1984.
According to the AP:
The economy grew last quarter at a vigorous 6.4% annual rate, the government said Thursday, and expectations are that the current quarter will be even better. The number of people seeking unemployment aid — a rough reflection of layoffs — last week reached its lowest point since the pandemic struck. And the National Association of Realtors said Thursday that more Americans signed contracts to buy homes in March, reflecting a strong housing market as summer approaches.
Economists say that widespread vaccinations and declining viral cases, the reopening of more businesses, a huge infusion of federal spending and healthy job gains should help sustain steady growth. For 2021 as a whole, they expect the economy to expand close to 7%, which would mark the fastest calendar-year growth since 1984.
Trump’s self-described “greatest economy in history” was always a fraud. The economy actually entered a recession before the coronavirus swept through the country. Trump’s economy wasn’t even the greatest of the last twenty years.
Donald Trump is said to be planning on announcing his 2024 plans after the midterm election, but if the economy is rolling, it won’t matter. Republicans and Fox News are doing all that they can to slow down the economy by discouraging vaccinations.
President Biden could establish the sort of economic success that has historically allowed incumbent presidents to cruise to a second term.
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