It basically just says the reality for most voters is that they still struggled. It bypasses all the real statistical data showing our economy in a recovery process during Biden’s term.
A recovery process that surpassed other first world nations.
Real gross domestic product grew 2.5% in 2023, significantly outpacing growth in all other G7 nations.[38][39][40] Real GDP growth averaged a robust 3.4% during the first three years of the Biden presidency.[41]
The labor market was strong in 2023. The unemployment rate averaged a very low 3.6% in 2023, as it had in 2022; the last year with an average 3.5% unemployment rate was 1969.[26] The number of persons with jobs continued setting records monthly as it had since June 2022 when the pre-pandemic peak was regained, reaching 157.3 million in December 2023. An average of 251,000 jobs per month were added in 2023, a total of 3.0 million.[27]
Wage gains exceeded inflation in 2023, with real (inflation-adjusted) hourly earnings for all employees increasing 0.8% from December 2022 to December 2023.[42] The inflation rate measured vs. one year earlier was 6.4% in January 2023 and 3.1% in December as the inflation rate slowed.[43] Census data released in January 2024 showed that record-high new business applications were filed in 2023, the third consecutive annual record high.[44]
For data through November 2024, President Biden on average had the lowest unemployment rate (4.12%) and highest real hourly wages for production & non-supervisory workers ($30.11) among presidents back to 1964.[49][3]
In 2024, Biden pushed to limit junk fees through the FTC, FCC and CFPB.[50] Biden has taken antitrust more seriously than presidents in recent memory, as seen by the work of Lina Khan at the FTC,[2] a historic court victory against Google’s search monopoly, and a lawsuit to break-up Live Nation and Ticketmaster.[50]
In February 2024, the total federal government debt grew to $34.4 trillion after having grown by approximately $1 trillion in both of two separate 100-day periods since the previous June.[51] However, the ratio of debt held by the public to GDP fell from 97.1% in Q1 2021 when Biden started to 95.2% in Q2 2024, as growth outpaced debt increases.[52]
Now, before you start crying about this being from Wikipedia, I’d like to point out the numbers inside the brackets above. Those are what those of us who have gone to school call SOURCES. That’s the beauty of Wikipedia. If you think it isn’t being accurate, you can click on the source links embedded into the website to verify the claims.
Those SOURCES are what your link, which should be considered an opinion piece, are lacking.
So I have to ask myself, do I rely on a link with almost no data at all, and absolutely no sources, or do I rely on a link that has a shit ton of data and sources included to back the claims being made?
If I was you, I’d just blindly believe the link with no sources. But, thank the gods, I am not you.
Your link is a hit piece with no sources. Do better.
So…you didn’t actually read the article, then…did you? Instead, you brought up all the same statistics that the article points out are commonly mischaracterized. It is a false representation of the economy that simply doesn’t apply to regular people.
If you had bothered to read the article, you wouldn’t be simply holding those statistics up as proof that the article is wrong. You would be trying to explain how those values actually apply to the average person.
Not true, at all.
Thanks for your link with virtually no data.
No references to studies.
It basically just says the reality for most voters is that they still struggled. It bypasses all the real statistical data showing our economy in a recovery process during Biden’s term.
A recovery process that surpassed other first world nations.
Did you even read it? It explains in detail how the data that the government relies on for its forecasts, is being misrepresented.
Real gross domestic product grew 2.5% in 2023, significantly outpacing growth in all other G7 nations.[38][39][40] Real GDP growth averaged a robust 3.4% during the first three years of the Biden presidency.[41]
The labor market was strong in 2023. The unemployment rate averaged a very low 3.6% in 2023, as it had in 2022; the last year with an average 3.5% unemployment rate was 1969.[26] The number of persons with jobs continued setting records monthly as it had since June 2022 when the pre-pandemic peak was regained, reaching 157.3 million in December 2023. An average of 251,000 jobs per month were added in 2023, a total of 3.0 million.[27]
Wage gains exceeded inflation in 2023, with real (inflation-adjusted) hourly earnings for all employees increasing 0.8% from December 2022 to December 2023.[42] The inflation rate measured vs. one year earlier was 6.4% in January 2023 and 3.1% in December as the inflation rate slowed.[43] Census data released in January 2024 showed that record-high new business applications were filed in 2023, the third consecutive annual record high.[44]
For data through November 2024, President Biden on average had the lowest unemployment rate (4.12%) and highest real hourly wages for production & non-supervisory workers ($30.11) among presidents back to 1964.[49][3]
In 2024, Biden pushed to limit junk fees through the FTC, FCC and CFPB.[50] Biden has taken antitrust more seriously than presidents in recent memory, as seen by the work of Lina Khan at the FTC,[2] a historic court victory against Google’s search monopoly, and a lawsuit to break-up Live Nation and Ticketmaster.[50]
In February 2024, the total federal government debt grew to $34.4 trillion after having grown by approximately $1 trillion in both of two separate 100-day periods since the previous June.[51] However, the ratio of debt held by the public to GDP fell from 97.1% in Q1 2021 when Biden started to 95.2% in Q2 2024, as growth outpaced debt increases.[52]
https://en.wikipedia.org/wiki/Economic_policy_of_the_Joe_Biden_administration
Now, before you start crying about this being from Wikipedia, I’d like to point out the numbers inside the brackets above. Those are what those of us who have gone to school call SOURCES. That’s the beauty of Wikipedia. If you think it isn’t being accurate, you can click on the source links embedded into the website to verify the claims.
Those SOURCES are what your link, which should be considered an opinion piece, are lacking.
So I have to ask myself, do I rely on a link with almost no data at all, and absolutely no sources, or do I rely on a link that has a shit ton of data and sources included to back the claims being made?
If I was you, I’d just blindly believe the link with no sources. But, thank the gods, I am not you.
Your link is a hit piece with no sources. Do better.
So…you didn’t actually read the article, then…did you? Instead, you brought up all the same statistics that the article points out are commonly mischaracterized. It is a false representation of the economy that simply doesn’t apply to regular people.
If you had bothered to read the article, you wouldn’t be simply holding those statistics up as proof that the article is wrong. You would be trying to explain how those values actually apply to the average person.