Part of an excellent post by Robert Reich:
Trump will try to take credit for the Biden economy. Don’t let him. And don’t let Republican enablers of Trump or the media give him credit, either.
In 2017, Trump inherited a strong economy from President Obama and never stopped congratulating himself for it. He claimed that “we created the greatest economy in the history of the world.”
Rubbish. Trump tanked the economy with his trade wars and his botched pandemic response.
Now, Trump is inheriting an even stronger economy.
On Friday, the Department of Labor reported that the nation added 256,000 jobs in December, significantly more than economists expected.
The total number of jobs created under Biden’s four years is 16.6 million. That makes him the only president in history to have presided over an economy that created jobs every single month.
He has also presided over the lowest average unemployment rate of any president in a half-century, ending at 4.1 percent.
The nation gained more jobs in Biden’s four years than it did under Trump’s first term of office, or under either of Barack Obama’s or George W. Bush’s terms of office.
Working-age women are now employed at record levels.
The gap in employment between Black Americans and their white counterparts is at the lowest level ever.
Biden has also presided over an economy that has grown faster and created more jobs than any other advanced economy around the world. Under Biden, the American economy grew faster than did the pre-pandemic Trump economy.
Yes, the United States and every other country had to deal with inflation, but Biden brought inflation down to below 3 percent — lower than in most other countries.
Americans have every reason to be outraged at decades of policies that prioritized corporations over people. But the Biden administration cracked down on corporate price-gouging, monopolization, and trickle-down nonsense.
All this means that Trump begins his second presidency with the best economy a president has inherited in living memory.
Will he claim credit for it? You betcha.
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