Biden’s economic accomplishments are record-breaking (CAP, Jan. 22, 2022). You can’t credibly call the following facts fake, however, Fox will try and we will cringe;
- Under Biden, we have seen the most jobs created on record
- Under Biden, we have seen the fastest decline in the unemployment rate on record
- Since the passage of the American Rescue Plan, unemployment has fallen much faster than expected
- Under Biden, all sectors saw job gains
- The United States recovered its pre-pandemic level of income faster than all other G-7 countries
- Real disposable incomes were up and poverty fell despite inflation
- People had more disposable income in 2021, even taking inflation into account
- Poverty among children fell by 38 percent from 2020 to 2021
- Workers were empowered to take better jobs
- Applications to start new businesses increased dramatically in 2021
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Trump’ economic failures include:
- Left office having created less jobs than when he entered office
- Mismanaged the pandemic making worse an inevitable financial turndown
- Created international trade policies that hurt U.S. industry while simultaneously alienating allies.
- Misunderstood the value of the World Trade Organization to the economy
- Increased the trade deficit with China with his trade wars
- Ballooned the national debt
- Failed to strengthen the American manufacturing sector
- Unemployment was consistently higher for people of color over whites
- Financial gains from his corporate tax cuts benefitted mainly those who were already rich.
- Out of control spending, an anti-conservative policy, ballooned the national debt to 7 trillion dollars
- His expensive tax cuts to the rich ballooned the deficit to the third largest increase in U.S. history
- Prices on goods for the average person increased as Trump engaged in a tariff war run by his ego to best President Chi. His ego war cost the American economy 300,000 jobs
- Millions of Americans lost their jobs, life savings, and lives due to his lying about the deadly nature of the corona virus
- His alienation of our allies with his toxic masculinity behaviors and anti- globalization policy of ” America First” affected positive trade practices
Communities of color bore the brunt of Trumpism’s economic policies, proving even his economic policies were as racist as his social policies. However, thankfully he lost, and despite that he is still poisoning the country with corruption and pursuit to destroy democracy, Biden is kicking his butt as a President of the United States.
Here is a look at the outgoing president’s legacy on the U.S
