The economy lost 2.9 million jobs. The unemployment rate increased by 1.6 percentage points to 6.3%.
Paychecks grew faster than inflation. Average weekly earnings for all workers were up 8.7% after inflation.
After-tax corporate profits went up, and the stock market set new records. The S&P 500 index rose 67.8%.
The international trade deficit Trump promised to reduce went up. The U.S. trade deficit in goods and services in 2020 was the highest since 2008 and increased 40.5% from 2016.
The number of people lacking health insurance rose by 3 million.
The federal debt held by the public went up, from $14.4 trillion to $21.6 trillion.
Home prices rose 27.5%, and the homeownership rate increased 2.1 percentage points to 65.8%.
Illegal immigration increased. Apprehensions at the Southwest border rose 14.7% last year compared with 2016.
Coal production declined 26.5%, and coal-mining jobs dropped by 16.7%. Carbon emissions from energy consumption dropped 11.5%.
Handgun production rose 12.5% last year compared with 2016, setting a new record.
The murder rate last year rose to the highest level since 1997.
Trump filled one-third of the Supreme Court, nearly 30% of the appellate court seats and a quarter of District Court seats.
https://www.factcheck.org/2021/10/trumps-final-numbers/
... families can no longer afford to live in Biden’s America.
Americans are also significantly wealthier than before Biden took office.
In June 2022, the average working American earned $74,643 in wages and salaries, compared to $74,624 in January 2021 and $70,274 in February 2020. Even with 9.5 million more people working, the average working person earned as much in June, after inflation, as when Biden took office. And compared to just before the pandemic, when employment was comparable to today, the average person earns 6.2 percent even after inflation.
I would say that the combination of Trump's and Biden's policies especially with the Corona pandemic did long term damage, because finally it got the inflation running when the pumped up financial markets would be in for deflation, assuming the market mechanism would be let to operate. Handing out cash to people finally could do it, and the two Presidents are guilty of this.The economic position of the average American has declined. Even as wages increase, they're in worse shape. You see this as attributable to Biden? — frank
Handing out cash to people finally could do it, — ssu
The real reason is the fiscal and monetary policy implemented for decades. I think the basically all the Corona policies implemented just broke the dam.If you're talking about the stimulus payments, I don't think that was enough to generate the inflation we're seeing. — frank
I agree. It won't increase it to really take inflation down as the effects of positive real interest rates would be too horrible. Hence inflation continues. Not perhaps as high, but it does. And in a few years time, you will notice that prices have increased dramatically.The Fed is going to increase rates again this fall, but that isn't expected to stop inflation. We'll just have a recession with inflation. :grimace: — frank
Biden just forgave thousands of my student debt. Thanks Biden and Harris! — Cobra
However we have always had, and continue to have, the means to maintain and reinforce the damn. — Merkwurdichliebe
It's stronger if you put "God" in front of it. — frank
Belief in King Dollar is strong. Doesn't erode in a week.Blnd faith is what makes the world go round — Merkwurdichliebe
Belief in King Dollar is strong. Doesn't erode in a week. — ssu
Fuck the polls! :lol: :point:The rightwing SCOTUS will overturn Roe vs Wade in 2Q 2022 which will set-off a center-left firestorm through the summer and fall that will help the Dems (barely) hold on to control of BOTH houses of the US Congress in next year's midterm elections. — 180 Proof
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