On Wednesday, President Joe Biden boasted about his economic performance in 2021, claiming that it was the best of any president in the past 50 years. “Let’s keep the momentum rolling,” Biden tweeted.
In a speech last week, President Joe Biden made a similar claim, but he didn’t name the expert who said he had the best first-year economic track record of any president in the past 50 years. Because of his staff and Cabinet, over 6 million new jobs have been created, a new president’s record figure. Unemployment has dropped to 4.2 percent, three years ahead of schedule.
Previous fact-checks have shown that former President Donald Trump was responsible for much of the economic rebound. The economy has rebounded well after contracting by more than 30% in the first six months of 2020.
He also inherited an economy decimated by the shutdown actions in reaction to COVID-19, which he frequently ignores in his speeches. “However, considering that unemployment reached its greatest level since the Great Depression of the 1930s in April last year,” the report stated, “this job gain comes from a low base point.” The effect of the coronavirus resulted in the loss of more than 22 million jobs in less than two months.
Moreover, the effect of the coronavirus resulted in the loss of more than 22 million jobs in less than two months. The jobs were lost due to punitive measures taken by the federal and state governments, which were justified by the virus. But the question is, in what world does it make sense to strive to protect individual independence by shutting down all small firms while allowing the big corporations to remain fully operational?