White House: Biden’s economic plan delivered strong economic growth in 2023

The U.S. economy grew 3.1 percent last year, the Joe Biden administration said Thursday. The data, according to the White House, “demonstrates that President Biden’s plan for the economy … continues to deliver results for the American people.”

The economic numbers contradict many analysts’ predictions of a recession and exceed the average growth of the economy under the previous administration.

“Today, it was reported that the U.S. economy grew 3.1 percent over the past year, with 2.7 million more jobs created and core inflation returning to pre-pandemic levels. As a result, wages, wealth and employment are higher now than they were before the pandemic,” Joe Biden said. – This is good news for American families and workers. This is the third straight year of economic growth under my leadership.”

“But our work is not yet done. From implementing historic legislation to lower drug costs, insurance premiums and clean energy costs, to fighting hidden fees that companies use to defraud consumers, I will continue to fight to lower costs,” Biden added.

Treasury Secretary Janet Yellen on Thursday drew a stark contrast between the economic policies of President Joe Biden and former President Donald Trump, arguing that Biden’s approach has led to “the fairest economic recovery in history” and will bring more benefits to the middle class.

Although inflation in the United States has slowed significantly, prices overall remain nearly 17% higher than they were before the pandemic began three years ago. This, experts note, is an irritant to many Americans. And that factor could have a serious impact on voters, many of whom are still feeling the lingering financial and psychological effects of the worst inflation spike in four decades.

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