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.

  • forrgott@lemm.ee
    1·
    13 hours ago

    I doubt it shrank. The wealth gap has likely only grown since Reagan at least.

    • ryedaft@sh.itjust.worksEnglish
      11·
      8 hours ago

      Yeah, if I remember correctly it grows when there’s a republican president and stays the same when there’s a democrat in the white house. But I haven’t seen the numbers for Biden. Basically there’s a party of the status quo and one for making everything worse.