The Greatest Story Never Told - The Biden Boom [View all]
Daily Kos, Oct. 30, 2023. Ed.
We received some good news on the economy last week that will make the MAGA Republicans very angry. United States GDP soared to a blockbuster 4.9% in the the third quarter of 2023. That’s the highest since the end of 2021 and a big increase from 2.1% growth in the second quarter.
Even Donald Trump was “impressed” by this report. Trump in 2018: “You look at GDP at 3.2 percent, we’re doing so well… Nobody would have believed it”
The robust growth was powered by optimistic consumers who continued to spend freely, despite higher interest rates. The GDP report was a far cry from the recession that the mainstream press has been predicting for the last 2 years. “Strong economic growth under the President. Time for all the people calling a recession to acknowledge Joe Biden made the right calls in 2021/22!!” Ron Klain, former White House Chief of Staff.
“I never believed we would need a recession to bring inflation down — and today we saw again that the American economy continues to grow even as inflation has come down,” President Biden said in a statement on October 26 on the new GDP report. “It is a testament to the resilience of American consumers and American workers, supported by Bidenomics.”
The U.S. economy’s continuing strength has been largely ignored by the mainstream press. Fox “News” and other outlets in the GOP media have been relentlessly running down the economy and the country..The Huffington Post on Oct. 26 did a great report on the current status of the economy: “Simply by the numbers, the U.S. economy is not only better than expected, it’s also in many ways doing better than it was before the pandemic, a period Trump has liked to call the best economy “in the history of the world.”...
https://www.dailykos.com/stories/2023/10/30/2202494/-The-Greatest-Story-Never-Told-The-Biden-Boom
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