GDP dropped rapidly during the pandemic recession when Trump was president, but grew by rates faster than the historical norm under both Trump and Biden. In three of Biden’s first four quarters, GDP growth exceeded 6%.Then, the economy began shrinking. The economy contracted modestly in 2022...
The data shows that the U.S. economy has been strong overall under Biden. For instance, the government reported that 272,000 jobs were added to the economy in May 2024, a number that surpassed the 180,000 that had been estimated,as we previously reported. Meanwhile, while the unemployment ...
The average year-over-year inflation rate under President Gerald Ford was 8.0%—the second-highest on this list. The Ford administration inherited stagflation from Nixon’s time, cut taxes, and reduced regulation to stabilize the economy. While these policies ended the recession, inflation continued...
NEW YORK - US President Joe Biden has warned of the dire consequences of a possible default by the US government on its debt obligation as early as June 1. Speaking at SUNY Westchester Community College in New York on Wednesday, Biden said the US economy would fall into recession with 8 m...
After President Biden revealed his $6.8 trillion budget for fiscal year 2024,one tax reform activistis sounding off on the "massive increase" in spending and taxes that brings the U.S. economy back to a "horrific" Jimmy Carter era.
President Biden has seen things totally differently. As he’s often said, when he hears “climate,” he thinks “jobs.” He believes that building a twenty-first-century clean-energy economy is one of the most significant growth opportunities of the twenty-first century—but that to harness ...
Biden: since President Obama and I took the oath of office in January 2009, we have been focusing on employment and the economy. In that month, the United States lost more than 800 thousand jobs. Our priority is to stabilize the economy, avoid the second "Great Depression" and promote the...
U.S. President Joe Biden reportedly plans to formally block the $14 billion sale of U.S. Steel to Japan's Nippon Steel on national security grounds.
The President’s stance aligns with the administration’s broader efforts to reinforce the U.S. economy’s resilience by ensuring that pivotal sectors remain under American control to protect national security interests and to preserve...
President Joe Biden has made America's case to CEOs attending the Asia-Pacific summit in San Francisco that the United States is committed to high standards in trade that will benefit economies across the Pacific.