When President Biden took office, he inherited a plummeting economy with millions more Americans out of work. While there is still work to be done, because President Biden and the Democrats have stepped up and passed the US bailout, our economy is getting back on track and recovering faster than anyone anticipated.
The US economy grew 5.7% in 2021 and 6.9% in the last three months of the year, making it the strongest year for GDP growth since 1984.
Washington Post: “The U.S. economy grew 5.7% in 2021, the fastest annual clip since 1984, despite the ongoing pandemic”
CNBC: “Gross domestic product, the sum of all goods and services produced during the October-December period, grew at an annualized rate of 6.9%, the Commerce Department reported Thursday. Economists polled by Dow Jones expected a gain of 5.5%.The increase was well above the unrevised growth of 2.3% in the third quarter.
Washington Post’s Heather Long: “The United States went from the worst GDP in 2020 since World War II to the best GDP in 2021 since 1984.”
Thanks to the leadership of President Biden, last week companies announced they were investing to create thousands of new manufacturing jobs here in the United States:
Detroit Free Press: “GM to Invest $7 Billion in 4 Plants Across Michigan, Creating 4,000 Jobs”
Washington Post: “Intel announced Friday that it is building a chip manufacturing campus near Columbus, Ohio that will initially employ 3,000 people and create thousands of additional construction jobs.”
Supply chain issues continue to improve, with retailer inventories rising 4.4% last month.
Associated Press’ Josh Boak: “Big 4.4% increase in retail inventory, which is probably a positive sign for supply chain issues.