Updated: Jan 29, 2022
Bloomberg’s founder, Matthew Winkler, stated, “America’s economy improved more in Joe Biden’s first 12 months than any president during the past 50 years….”
Believe it or not, the economy grew last year at the fastest pace since 1984. The Commerce Department reported Thursday that the nation's gross domestic product grew 5.7% last year — the biggest increase since 1984.
The $1.9 trillion American Rescue Plan sent $1,400 stimulus checks to millions, and its monthly payments to families have been hailed as a transformative anti-poverty program. Congress’s enactment last month of the president’s bipartisan infrastructure package represents the biggest investment in the nation’s public works in a generation.
Unemployment declined from 6.2% in February 2021 to the current 3.9%. By a wide margin, more jobs were created during Biden’s first year than 12 years of the G.W. Bush and Trump administrations combined.
Child poverty was reduced by half. 4.6 million previously uninsured Americans obtained health coverage under the Affordable Care Act.
Bloomberg and the Wall Street Journal reported the U.S. economy grew almost 6% in 2021. They predict growth for 2022 to be about 4% and inflation to slow.
COVID vaccination rate is 61.2% and 72.4% of Americans have had at least one dose. The U.S. has donated and shipped more than 110 million doses of its COVID-19 vaccines to more than 60 countries – a major milestone that cements the United States as the global leader in COVID-19 vaccine donations.
Sources: Salt Lake City Tribune, The Atlantic, Wall Street Journal, Bloomberg, CNN, NBC, NPR