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My take on Bidenomics

I prefer to consider legitimate facts.

According to government statistics, inflation at this time last year was just under 9%, but latest government figures set it at 3.2% and heading downward. Our GDP (economic growth rate) for the first two quarters this year was 2% and 2.4% respectively, indicating a strong upward trend, and no sign of a recession. Compared to the rest of the richest countries in the world, America is without a doubt the best economy anywhere. Germany, for instance, had a -1% GDP.

Unemployment remains steady at 3.5%, the lowest in over 50 years. Real wages are growing. While the previous president had “Infrastructure Week” about once a month, President Biden actually passed the bi-partisan Infrastructure Bill, creating thousands of good-paying jobs throughout the country. Additionally, many new manufacturing jobs have been created by the CHIPS and Science Acts, passed without a single Republican vote. More than 13.2 million jobs have been added since Biden took office.

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My take on Bidenomics

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I prefer to consider legitimate facts.

According to government statistics, inflation at this time last year was just under 9%, but latest government figures set it at 3.2% and heading downward. Our GDP (economic growth rate) for the first two quarters this year was 2% and 2.4% respectively, indicating a strong upward trend, and no sign of a recession. Compared to the rest of the richest countries in the world, America is without a doubt the best economy anywhere. Germany, for instance, had a -1% GDP.

Unemployment remains steady at 3.5%, the lowest in over 50 years. Real wages are growing. While the previous president had “Infrastructure Week” about once a month, President Biden actually passed the bi-partisan Infrastructure Bill, creating thousands of good-paying jobs throughout the country. Additionally, many new manufacturing jobs have been created by the CHIPS and Science Acts, passed without a single Republican vote. More than 13.2 million jobs have been added since Biden took office.

On the world stage, President Biden strengthened relations with NATO, and world leaders again demonstrate respect for the U.S. Rick Dike, in his response to my previous letter, may disagree with the U.S. and NATO support for Ukraine in their fight against the Russian invasion, but supporting Ukraine helps to safeguard the rest of Europe and America. Moreover, Biden recently cemented relations with Japan and South Korea to support a united front against an aggressive China.

It's true that gas prices are again on the rise, but a major cause has been the increased demand by Americans (who are traveling more) and the inability of oil refineries to function in this summer’s extreme heat.

Anecdotally, I observe many Americans eating at restaurants, traveling nationwide, shopping profusely and spending everywhere. Evidently, many are enjoying Bidenomics.

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