President Joe Biden has some serious audacity going around making claims that the economy of the United States has improved under his presidency. Of course, folks like us on the right have found a laughing matter, but how accurate are his statements?
At the beginning of this week, while the spirit of thanksgiving consumed the whole of America, with baking pies and preparing dressings or whatnot, the BBC was busy preparing a fact check on the claims made by Biden regarding the economy, and what they discovered is quite intriguing. On the 23rd of November, Biden claimed that the US is currently going through one of the most substantial recovery phases in the world. No matter who makes such a claim, it is indeed a hefty one. But Biden isn’t all wrong to claim this as there is somewhat reality to this claim. The GDP of the US has risen by 6% since Biden came into office. Although the American economy has rebounded from the pandemic in a somewhat successful trajectory, the primary recovery occurred while former President Donald Trump was still in office.
During the same November 23rd speech, Biden had made another claim that a record of 5.6 million jobs have been created since Biden became President. Though it isn’t a lie and a record number of jobs created during the first 10months of any presidency, it’s essential to thaw deeper. Under the same presidency, the US workforce faced a record unemployment rate. Twenty-two million jobs were lost due to Covid-19, a record number since the Great Depression.
Biden also bragged about increasing Americans’ wages by 4.9%, but it doesn’t count when the inflation is at a 6.2% rise. Considering the inflation, the total earnings have decreased by 1.2%. Biden highlighted the countries having higher gas prices than the US when discussing gas prices, which the BBC revealed inaccurate. It comes as a reminder not to trust everything Biden says because he will manipulate anything to make his administration look good rather than just accepting the flaws. Still, those too are a lot to recall for the old President.