By standard measures such as job and GDP growth and the stock market, the US economy was in excellent shape

Summary

Donald Trump claims he inherited an economic disaster from Joe Biden, but key economic data contradicts him.

When Biden left office, unemployment was 4.1%, inflation had dropped to 2.9%, and GDP growth was strong. Job growth under Biden outpaced Trump’s tenure, and manufacturing saw major gains.

While inflation spiked due to global events, the economy remained resilient. Wall Street performed well under Biden but has struggled under Trump’s tariff policies.

Economists widely reject Trump’s narrative, calling Biden’s economy one of the strongest post-pandemic recoveries.

  • ryedaft@sh.itjust.worksEnglish
    19·
    4 hours ago

    Did the gap between rich and poor grow, shrink, or stay the same under Biden? Definitely going to grow under Trump.

    • JasonDJ@lemmy.zip
      10·
      2 hours ago

      This is it. GDP alone tells a very small part of the picture. It shows the health of the economy as a whole.

      A much better picture would be median net worth.

      Something like this…

      Median Net Worth in the U.S. Over Time

      • givesomefucks@lemmy.worldEnglish
        4·
        1 hour ago

        All we need to do to stop Republicans from winning is make that purple line go up…

        But a neoliberal like Hillary, Biden, or Harris won’t do it

        So poor people vote for the liar that says he’ll try to fix versus the liar who says everything is fine.

        If you’ve voted in the last three presidential elections, you most likely weren’t voting for anything, you were voting against the other party.

        It’s not a sustainable political system when voters are presented with two shitty outcomes and told they have a choice.

    • Voroxpete@sh.itjust.works
      187·
      4 hours ago

      This is the right question to be asking.

      While Trump has no business claiming that he’s better at handling thy economy than literally anyone, this constant defense from the centre-left that “Actually the economy was great under Biden” is asinine and stupid. The economy under Biden was only great for the wealthy. For a lot of people life got steadily more expensive. That’s not a sign of a healthy economy.

  • snekerpimp@lemmy.world
    8·
    3 hours ago

    The Narcissist’s Prayer: That didn’t happen. And if it did, it wasn’t that bad. And if it was, that’s not a big deal. And if it is, that’s not my fault. And if it was, I didn’t mean it. And if I did, you deserved it.