Opinion | Trump’s economy vs. Biden’s — in 17 charts
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Both Trump and Biden have had significant impacts on the U.S. economy. Trump inherited a lukewarm economy and implemented tax cuts and government spending, resulting in a hot growth spurt and job creation. However, the pandemic caused a significant increase in unemployment. Biden inherited a nation still dealing with the effects of COVID-19 and implemented government spending and investment, leading to a rapid rebound, job growth, and a renaissance in manufacturing and start-ups. However, inflation has been a challenge under Biden. In terms of inflation vs. wages, wages for rank-and-file workers rose more under Trump than under Biden. Biden has added an impressive 15.7 million jobs to the economy, benefiting from a pandemic bounce-back. Trump also saw strong job growth before the pandemic, but ultimately lost millions of jobs due to the pandemic. Economic growth under Trump was above the norm, but the pandemic recession impacted his record. Under Biden, growth has been strong, with the U.S. economy experiencing a post-pandemic surge. Home buying rates remained steady under both presidents, with mortgage rates and rising home prices impacting affordability. Biden has made significant investments in U.S. manufacturing, leading to increased factory construction. Job creation has been widespread under both presidents, with more manufacturing jobs created under Biden. Home values have risen rapidly under both presidents, benefiting current homeowners but causing concerns for younger Americans. New business creation has surged since the pandemic, with government aid playing a role. Trump saw a rise in positive sentiment about the economy, while Biden has faced challenges due to inflation. Wage inequality has fallen under Biden, but real wages have barely grown. Median household income rose under Trump but fell during the pandemic, and has since climbed under Biden. The share of Americans with health insurance rose under Biden, while Trump repealed the law requiring health insurance. The stock market performed well under both presidents. Child poverty dipped under Trump and plummeted under Biden due to stimulus measures. Both presidents contributed to the federal debt, with emergency spending during the pandemic exacerbating the issue.
#Trump #Biden #Economy #Charts #Inflation #Jobs #EconomicGrowth #HomeBuying #Manufacturing #Wages #Income #HealthInsurance #StockMarket #ChildPoverty #FederalDebt
https://www.washingtonpost.com/opinions/2024/07/18/trump-biden-economy-charts-compare/
The Washington Post /
npub1nw…97m8h
2024-07-18 17:02:11
Author Public Key
npub1nwad78hejfewj63p264uf2sxh0a5az753pw7auscrlupefjtr27sp97m8hPublished at
2024-07-18 17:02:11Event JSON
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"content": "Opinion | Trump’s economy vs. Biden’s — in 17 charts\n==========\n\nBoth Trump and Biden have had significant impacts on the U.S. economy. Trump inherited a lukewarm economy and implemented tax cuts and government spending, resulting in a hot growth spurt and job creation. However, the pandemic caused a significant increase in unemployment. Biden inherited a nation still dealing with the effects of COVID-19 and implemented government spending and investment, leading to a rapid rebound, job growth, and a renaissance in manufacturing and start-ups. However, inflation has been a challenge under Biden. In terms of inflation vs. wages, wages for rank-and-file workers rose more under Trump than under Biden. Biden has added an impressive 15.7 million jobs to the economy, benefiting from a pandemic bounce-back. Trump also saw strong job growth before the pandemic, but ultimately lost millions of jobs due to the pandemic. Economic growth under Trump was above the norm, but the pandemic recession impacted his record. Under Biden, growth has been strong, with the U.S. economy experiencing a post-pandemic surge. Home buying rates remained steady under both presidents, with mortgage rates and rising home prices impacting affordability. Biden has made significant investments in U.S. manufacturing, leading to increased factory construction. Job creation has been widespread under both presidents, with more manufacturing jobs created under Biden. Home values have risen rapidly under both presidents, benefiting current homeowners but causing concerns for younger Americans. New business creation has surged since the pandemic, with government aid playing a role. Trump saw a rise in positive sentiment about the economy, while Biden has faced challenges due to inflation. Wage inequality has fallen under Biden, but real wages have barely grown. Median household income rose under Trump but fell during the pandemic, and has since climbed under Biden. The share of Americans with health insurance rose under Biden, while Trump repealed the law requiring health insurance. The stock market performed well under both presidents. Child poverty dipped under Trump and plummeted under Biden due to stimulus measures. Both presidents contributed to the federal debt, with emergency spending during the pandemic exacerbating the issue.\n\n#Trump #Biden #Economy #Charts #Inflation #Jobs #EconomicGrowth #HomeBuying #Manufacturing #Wages #Income #HealthInsurance #StockMarket #ChildPoverty #FederalDebt\n\nhttps://www.washingtonpost.com/opinions/2024/07/18/trump-biden-economy-charts-compare/",
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