Container ship Ever Far, left, sails down river past the Georgia Ports Authority's Port of Savannah, Wednesday, Sept. 29, 2021, in Savannah, Ga. Inflation has spiked during the recovery from the pandemic recession as Americans have ramped up spending on such items as cars, furniture and appliances. Those increased purchases have clogged ports and warehouses and exacerbated supply shortages of semiconductors and other parts.
The nation’s gross domestic product — its total output of goods and services — expanded 5.7% in 2021. It was the strongest calendar-year growth since a 7.2% surge in 1984 after a previous recession. The economy ended the year by growing at an unexpectedly brisk 6.9% annual pace from October through December, the Commerce Department reported Thursday.
What’s more, the Federal Reserve made clear Wednesday that it plans to raise interest rates multiple times this year to battle the hottest inflation in nearly four decades. Those rate increases will make borrowing more expensive and perhaps slow the economy this year. But super-low interest rates, huge infusions of government aid — including $1,400 checks to most households — and, eventually, the widespread rollout of vaccines revived the economy. Many consumers regained the confidence and financial wherewithal to go out and spend again.
Follow the math and logic. If GDP = 100 in 2019, the -5.65% GDP growth in 2020 would have dropped to 95.35. Primarily due to government policy. Increasing 5.9% in 2021 brings the GDP to 100.97565. Less than 1% in 2 years is not something to brag about. Look at 7.0% inflation.
The empty heads on MSM will talk about Biden's falling poll numbers. We're on a good path. Let's keep going!
But all the media is talking about is this faux inflation 🤦🏾♀️
Do you think this is why Coronavirus happened?
Typical horrible media framing. Good economy name republican president not the Democratic president. Bad economy don’t name the republican living in the White House.
Doesn’t take a rocket scientist to figure this would happen
Reopening businesses you forcefully closed DOES NOT count as growing the economy. Nice try Democrats.
Good to read.
Gaslighting
The Real GDP of 22.1 Trillion. Deficit Spending of over 3 Trillion represents 13.5% of the GDP. The 2 T dollars 'extra' over the 'normal' 1T dollar deficit represents 8.5% of GDP! Economy grew less than the added deficit spending.
Are you guys serious? 🤣 2020 the US economy was basically halted because of covid. So OF COURSE 2021 saw the fastest rate of economic growth. This is quite literally the rooster taking credit for the sunrise. But morons will read a headline & not use their brain, so kudos.
BidenBoom
WakeUpAmerica
Great news for all of us.
All it took was the lives of almost a million people. Just keep turning the handle on the grinder I guess. Gotta make the line go up at all costs..
'Over the past 12 months, consumer prices soared 7% — the fastest year-over-year inflation since 1982'- article. Also, if I have $90 and gain $9, I've gained 10%. If I lose $40 from the 90, I have $50. Then if I gain $5, I'm now 'up' 10% from $50. Still not in the black.
how many people died. how many people can afford their bills. I don't give a shit about 'the economy'
Austria to lift lockdown for unvaccinated residents
Can anybody tell me if it has grown against pre-covid numbers? Turn a machine on off then back on doesn't mean growth... it's just rebooted.
Why do the working people feel exactly the opposite. Because the 1% made a few trillion while we had death and crap jobs and tyrannical bosses with which to deal.
Where the raises
Imagine how much better it could have been if Biden wasn’t president
This is what WINNING looks like, folks!
Best president ever!
Bookmark this y'all. It's going to one hell of year you better be prepared.. y'all going to wish you had mean tweets again
BREAKING: billionaires atrocious hoards continued growing for zero work by them and negative benefit to us all
Good work! Job well done!
There's no way this is even remotely close to the truth! lies propaganda
seanspicer
I'm literally laughing. Perhaps, just perhaps, something happened here. Fear not America, POTUS thinks this economy is great and everything is working well. How can actually put this headline like this in clear conscience?
Yeah but that gas ⛽️ tho 😭
Fake News by left leaning Media. Crime rate has soared in USA since the days of Wild West
That’s really going to grit Donald Trumps piss.
Another accomplishment by President Biden.
I bet there will be a new era of prosperity when we banish the election hoax..I bet it all.
BuT bIDen IS kIlLiNg tHe eCoNOmY!!!!!!!!!!
If you consider inflation increased by 7%, the actual real growth was NEGATIVE 1.3%. That is a contraction, not an expansion of the U.S. economy!
No it didn’t
Let’s go Brandon! Great job
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