This is a bad economy? Until Joe Biden became the 46th US president, the unemployment rate never had fallen so far, so fast, settling at the lowest monthly average since data began to be compiled in the 1940s. In a span of less than 18 months, inflation has slowed at a rate never seen before. Under Biden, gross domestic product for each person increased almost 10% annually – a first for this century and more than three-and-a-half times the average, according to data compiled by Bloomberg.

The polls tell us that voters are unhappy with the economy. Never mind that manufacturing jobs increased 2.2% each year since the end of 2020 after declining at a 2% annual rate since 2000. Or that the ratio of household debt to GDP fell to the lowest since 2001. Or that personal income not only rose at an annual rate well above the century's average but also at the fastest rate of any presidency in 23 years, data compiled by Bloomberg show.

QOSHE - Biden’s Bad Economic Polls Come With An Asterisk - Matthew A. Winkler
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Biden’s Bad Economic Polls Come With An Asterisk

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22.11.2023

This is a bad economy? Until Joe Biden became the 46th US president, the unemployment rate never had fallen so far, so fast, settling at the lowest monthly average since data began to be compiled in the 1940s. In a span of less than 18........

© Bloomberg

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