Those who believe the dark, unsubstantiated, perverted view of the Biden presidency and our economy probably won’t be swayed by facts, but here are a few verifiable facts to consider.
Morgan Stanley is crediting President Biden’s economic policies with driving a surge in the U.S. economy that is so significant that the bank was forced to make a “sizable upward revision” to its estimates for U.S. gross domestic product from .5% to 1.9% growth.
Biden’s Infrastructure Investment and Jobs Act is “driving a boom in large-scale infrastructure,” wrote Ellen Zentner, chief U.S. economist for Morgan Stanley. In addition to infrastructure, “manufacturing construction has shown broad strength,” and domestic business investment “is rebounding, led by manufacturing,” she wrote.
You must be a member to read this story.
Join our family of readers starting at $5 for your first month and support local, unbiased journalism.
Click here to see your options for becoming a subscriber.
Register to comment
Click here create a free account for posting comments.
Note that free accounts do not include access to premium content on this site.
I am anchor
Biden presidency
Posted
Linda Somo
Those who believe the dark, unsubstantiated, perverted view of the Biden presidency and our economy probably won’t be swayed by facts, but here are a few verifiable facts to consider.
Morgan Stanley is crediting President Biden’s economic policies with driving a surge in the U.S. economy that is so significant that the bank was forced to make a “sizable upward revision” to its estimates for U.S. gross domestic product from .5% to 1.9% growth.
Biden’s Infrastructure Investment and Jobs Act is “driving a boom in large-scale infrastructure,” wrote Ellen Zentner, chief U.S. economist for Morgan Stanley. In addition to infrastructure, “manufacturing construction has shown broad strength,” and domestic business investment “is rebounding, led by manufacturing,” she wrote.
“The economy in the first half of the year is growing much stronger than we had anticipated, putting a more comfortable cushion under our long-held soft landing view,” Zentner wrote. “A manufacturing boom has swept across the country in President Biden's two and a half years in office, with the South and Mountain West — including several red states — enjoying especially strong growth,” Axios' Hans Nichols writes.
Moreover, inflation is down to around 4% and still dropping, and growth is strong. American recovery is the best in the G7 with inflation much lower than Europe. While Putin continues to struggle in Ukraine, the Western alliance has been revitalized and is expanding.
The immigration flow to the border has plummeted, murder rates are way down, the deficit is a fraction of what it was under Trump, and this year America will produce more oil than any year in history. Goldman Sachs economists have lowered the probability of a recession in the next 12 months to 20%, down from 30% last July.
The Biden presidency has been amazingly successful and continues to move our country forward. Just the facts!
Comments
No comments on this item Please log in to comment by clicking here