President Joe Biden scored a well-deserved victory in an financial system he and Vice President Kamala Harris have led, with second-quarter financial progress properly above expectations at 2.8%.
“Once I took workplace, we have been within the midst of the worst financial disaster because the Nice Melancholy. At present’s Gross Home Product report makes it clear that we now have the strongest financial system on this planet,” President Biden mentioned in a message to Politico ” acknowledged within the assertion.
The president made positive to incorporate the work of Vice President and Democratic presidential candidate Kamala Harris, whereas giving acceptable credit score for the superb transformation America has achieved below their management.
“Because of Vice President Harris and I’s financial agenda, our financial system grew a powerful 2.8% final quarter based mostly on sturdy American client and enterprise funding. We created almost 16 million jobs, wages rose, and inflation It is happening. We’re rebuilding the nation and bringing manufacturing again to America.
The Put up’s Heather Lengthy mentioned that was properly above expectations and was pushed by client spending, with enterprise funding and authorities spending additionally serving to.
JUST IN: Sturdy progress in second quarter. The U.S. financial system grew by 2.8% within the second quarter of 2024, a lot greater than the 1.9% forecast and a pointy leap from the 1.4% within the first quarter.
Client spending is vital (up 2.3% within the quarter). Enterprise funding and authorities spending additionally assist.
Backside line: The financial system sustains… pic.twitter.com/9RQX3BuW2E
— Heather Lengthy (@byHeatherLong) July 25, 2024
One factor about Democrats is that they’ve discovered to not tout good financial information because the endgame or perfection, in contrast to their Republican counterparts within the White Home. There’s all the time work to be carried out.
Moreover, Joe Biden isn’t going wherever for the subsequent six months.
“However now we have extra to do. Over the subsequent six months, I’ll proceed to hold out the duties of the President: reducing prices for hardworking households and rising our financial system,” the president mentioned. He additionally contrasted his objectives with congressional Republicans, saying, “Congressional Republicans have a special plan – one which places particular pursuits first and drags down our nation. The Vice President and I’ll proceed to combat for the way forward for America.” Wrestle—a future stuffed with hope and risk, a future by which extraordinary Individuals do extraordinary issues.
Sturdy GDP is not excellent news for these hoping for charge cuts, however it does illustrate that “the U.S. financial system is doing very properly. Paul Kluman well-known.
“Second-quarter financial progress and inflation have been each greater than anticipated, dampening hopes for a fast charge minimize. However step again and take into consideration how the U.S. financial system is doing in contrast with the dire warnings of recession and stagflation we’re listening to in 2022. How unbelievable.”
In contrast with different industrial international locations, the U.S. financial system below the management of President Biden and Vice President Harris has achieved a tremendous and enviable restoration after the epidemic. President Biden is leveraging the financial restoration to essentially rework the nation into a producing hub that not solely offers good jobs but in addition strengthens our nationwide safety and provide chains.
Joe Biden’s financial insurance policies are working. They run counter to the insurance policies proposed by Republicans that profit the wealthy and search to justify taxing the center class and putting the burden of patriotic funding on the working class. President Biden is flipping these drained drip-drip speaking factors on their head with chilly, exhausting information.
The proof is within the pudding. President Joe Biden is beginning to put money into America itself as a substitute of the billionaire class, and it is paying off. After 3 1/2 years in workplace, the president deserves a victory for his financial system.
Will he get reward from the media? Not too doable.
