A view of the economy
On Tuesday, May 14, an editorial appeared in the TR by Stephen Moore. I would like to respond to his article which painted the economy as all doom and gloom. He did not cite any sources, so the information was no doubt just his opinion. 1. The stock market closed above 400 this week for the first time in history.(Market Summary: Dow Jones Industrial Average) 2. The GDP for 3rd quarter was 5.2% and higher than any of the countries in the G-7. GDP has been averaging 3% for the last 3 years, which is 3 times higher than during the Trump presidency.(Simon Rosenberg) 3. Job creation during Biden’s presidency has been higher than the Trump and Bush years combined. Net job creation in April was 175,000 and there have been 27 consecutive months that unemployment is below 4%.(Washington Post). And the Wall Street Journal has said the U.S. economy is the “envy of the world.”
I have a hard time believing the doom and gloom painted by some on the right, who do not seem to want to look at actual numbers and admit the Biden Administration is doing a very good job with the economy.
