One of the most important stories of 2021 is one that does not get told enough: the Biden Economic Boom. Specifically, in less than 11 months, following the Trump Recession in which millions of jobs were lost, President Joe Biden has presided over a historic economic and jobs recovery. This includes:
–Extraordinary economic growth, estimated to be 7.8 percent this year.
–Income, wage and salary growth all way above the figures for 2018 and 2019.
–Unemployment falling from 6.3 percent in January 2021 (Donald Trump‘s last month in office) to just 4.2 percent last month, a historic drop in such a short time. And jobless claims just hit a new 52-year low.
Indeed, The Hill calls this “the fastest economic recovery in history.”
Moreover, the Biden Boom is no accident, but rather, a result of the Biden administration’s phenomenal efforts to vaccinate Americans against COVID; the American Rescue Plan which put money in the pockets of many Americans; and now the Infrastructure Investment and Jobs Act (which may soon be followed by the Build Back Better Act). It turns out that Americans really do like competence in government, or what we call Good Government, and that is part of the Democratic Party’s brand.