It’s « Morning in America » all over again.
US gross domestic product grew 5.7% through 2021, the Bureau of Economic Analysis announced Thursday morning.
That marks …
It’s « Morning in America » all over again. US gross domestic product grew 5.7% through 2021, the Bureau of Economic Analysis announced Thursday morning. That marks the strongest annual economic growth since 1984, when former president Ronald Reagan was gunning for his second term in the White House. The 40th president ran with the now-famous » Morning in America » message as he looked to pull the US out of its inflation nightmare and into a new era of economic prosperity. Similarities abound with the country’s present situation. Thursday’s GDP print caps a standout year for the US economy. Job growth was the strongest in the country’s history, with the US adding 6.4 million jobs in 2021. Consumer spending has fully recovered and then some. The economy isn’t just booming, it’s recovering at a pace much faster than seen after previous recessions. Biden isn’t seeking reelection for another couple of years, but the latest GDP data gives the president another metric to tout as he hits the campaign trail ahead of the 2022 midterm elections. It also places his first-year economic scorecard far above what most economists anticipated.
