Biden: credits Americans for strong economy, touts his legislative wins for ‘turning the economy around’

If the US economy is strong, why are so many Americans struggling? Inflation, debt and rising costs are overshadowing low unemployment and a strong GDP.

While highlighting new and ongoing infrastructure investments across the country, President Joe Biden on Thursday continued to praise the recent GDP report that found the nation’s economy grew at a 3.3% annual pace — much more rapid than expected — and he gave credit to Americans for an economy that has exceeded expectations.

“Thanks to the American people, America now has the strongest growth, the lowest inflation rate of any major economy in the world. It’s because of you,” he said at an event in Superior, Wisconsin.

The GDP report released Thursday found that in addition to the economy growing at an unexpectedly brisk pace, inflation has eased — showing Americans’ willingness to spend freely in the face of high interest rates and price levels. The latest data marked the sixth straight quarter where the GDP had grown at an annual pace of 2% or more.

 

 

Gideon Canice

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