"Biden is delivering the fastest economic recovery in history."

"Biden is delivering the fastest economic recovery in history. Why hasn;'t anyone noticed?"
"The economy is nearing full employment after businesses added jobs, the labor force participation climbed to its highest level since the pandemic, and wages are rising across many industries."

"Under Biden, the American economy has recovered from its Trump-era lows with remarkable speed. Just a year ago, the unemployment rate sat stubbornly at 6.7 percent. Today, only 4.2 percent of Americans are out of work. Similar economic recoveries have normally taken three times as long. The Biden administration is delivering on the fastest sustained economic recovery in American history, yet its messaging struggles to tell that story."

"This isn’t a “paper recovery,” where unemployment rates fall because more Americans simply give up looking for work. Much to Democrats’ relief, the opposite is true for the Biden recovery. The labor force participation rate, the percentage of Americans 16 and older who are working or actively looking for work, just hit pre-pandemic levels. That’s a hugely reassuring development for analysts who initially feared the global pandemic would be a drag on the labor force rate for years to come."

https://thehill.com/opinion/white-ho...tory-why-hasnt

"Next year could look very different."
"Republicans have pounded Democrats for months over spiking gasoline and grocery costs, a phenomenon they’ve dubbed “Bidenflation.” By the time next year’s elections roll around, that line of attack may lose its punch"

"Prices of everything from oil and natural gas to wheat and corn have already started falling from their peaks earlier this year. That trend is likely to continue in 2022, lowering gas prices and stabilizing food costs for consumers"

"The prices felt most acutely by voters could be telling a better story for Democrats. “People care about the prices they pay, and especially the prices they pay most frequently and most transparently, which are gasoline and food.”

"The trend might also suggest other reasons to be optimistic about the outlook for prices, if it indicates that supply chain issues are beginning to get resolved."

https://www.politico.com/news/2021/1...xt-year-523984

So why hasn't anyone noticed?

Is it because of poor messaging on the part of the Democrats, or, a successful misinformation campaign by the right wing media?

And if the results evolve as expected, especially if the pandemic subsides, could it circumvent the anticipated the loses the Democrats are predicted to face next November?

 

All of this is great news, but do we credit Biden? Can you tell me what specific actions by the Biden administration have led to this upward trend? Or would most of this have come about no matter who was president?

 

Yeah, fueled by inflation!

 

Most likely the later, as is the case with most Presidents, it is who is there when the it happens, good and bad

But Biden did get thru Congress the stimulus packages last year that aided keeping the economy going, and has taken measures to address the supply chain problems, and most recently he released oil in the reserves intending to bring down gas prices and encourage OPEC to increase production

 

How does inflation produce the "fastest recovery in history?"

 

It does not.
But the nominal GDP looks good.

 

So you stand corrected, the "fastest recovery in history" is not "fueled by inflation"

 

Here's another article related to your topic... for the Friends of Reading subset of this forum...

https://washingtonmonthly.com/2021/12/09/its-a-biden-boom-and-no-one-has-noticed-yet/

7.8 GDP in over 1st 3Q of 2021?? I'm no economer, but that's pretty good...

My overly simplistic answer to your questions is that many Americans are slow to the uptake... and far too many are lost to reality...

 

And Biden raised his arms to the sky and said "Let there be growth!" The clouds opened up and money fell from the sky. Amen.

It takes profound levels of blind, religious-like following to credit politicians for growth. Government only hinders growth.

 

And Biden and the Babeuvian Illiterati around him are still trying their hardest to hinder growth.

 

And yet.....

 

That 7.8 GDP could explain at least some of the inflation too. That said, we always need to keep watch on the economic trends and be at least have flexibility to manage any major hiccups.

 

Biden is not delivering anything. Biden is not running the economy.

He deserves no more credit for what is happening than Trump did when he was living in the White House before COVID.

This practice of attributing successes to whomever happens to be living in the White House at the time it happened is idiotic.

 

...."and yet" Biden and the Babeuvian Illiterati around him delivered 363,000 fewer jobs than expected last month:

 

Speaking of adding jobs, how about all those new IRS agents? Be careful when you file your taxes or you will get audited. They are trained to look for red flags. For example, if you have some money left in your bank account after paying your taxes, thats a red flag!

 

Two things happened that changed everything.

1. Enhanced unemployment benefits expired, and stimulus checks ended.
2. Low bank accounts balances drove people back to work.​

 

And yet....

 

Demand>Supply = Higher Prices

The interesting fact, Covid slowed down global production and now world consumer demand is pulling up prices hence, inflation. Sadly, once prices go up and people tolerate the higher prices, they generally never go as far back down as they rose initially.

 

~ Soon we will all be wealthy. I can't wait ...!

 

While I agree with your opening sentence, our economy is a far cry from a laissez-faire economy that operates free of the government. The attitudes and policies of presidents and congress can and do affect the economy.

 

Certainly, to a degree, but not to the point that the president deserves any kind of credit for it. Even Congress deserves credit more than the President.

Social media probably deserves more credit than Congress and the President combined.

 

Yeah, same as with trump, the pres has little to nothing to do w/ the current economic boom. The president, barring major terrible decisions or really huge projects, doesn't have the impact on the economy that people seem to think. Its not nothing, but there is a lot more to it.

 

I agree that was the case for some people.

 

What exactly is everyone raving about Biden? Trump got the V shaped HUGE recovery going, Biden seems to be slowing it down now.


https://www.bea.gov/data/gdp/gross-domestic-product

But if everything is so great then no need to spend all this money Biden and the Dems are trying to pass to SAVE US correct? Biden has once again made us dependent of foreign oil supplies, his policies have caused that huge increase which is holding back the economy, the money he has shoveled out has only cause fewer people to enter to workforce and just drop out leaving us a glut of open jobs that were they filled would be adding to the GDP and tax revenues and he plans even more of the same antibusiness antigrowth policies.

He and his staff may be desperately giving themselves credit for something but it seems the rest of the country sees through it and he has some of the worst polling on the economy than any modern day President.


https://www.wsj.com/articles/wsj-poll-biden-leadership-economy-midterms-11638888384

 

Yes. I was really worried for a while there that Labor was going to have a huge revolution and score a major victory in working conditions. Altering employment and lifestyle forever.