By Brooks Jackson, Eugene Kiely, D’Angelo Gore, Lori Robertson and Robert Farley
President Joe Biden isn’t running for reelection, but his record will still be on the ballot in the fall. Here’s a look at how the U.S. has performed under the Democratic president:
- The economy added 15.7 million jobs. The number is now 6.3 million higher than before the pandemic.
- The unemployment rate dropped back and has stayed lower, longer than at any time during the previous administration.
- Inflation surged to its highest level in over 40 years. Despite recent moderation, consumer prices are up more than 19 percent overall. Gasoline is up 46 percent.
- Average weekly earnings haven’t kept pace with prices. After adjusting for inflation, “real” weekly earnings dropped 2.3 percent.
- The U.S. economy has continued to expand under Biden, growing at 2.8 percent in the second quarter estimate released July 25 — double the rate of growth in the first quarter.
- Violent crime has gone down. Figures from large cities show a 9.1 percent drop in murders from 2020 to 2023, and data from more than 200 cities show a continuing decline so far this year.
- Fewer people lack health insurance. The uninsured went down by 2.1 percentage points or 6.6 million people.
- Crude oil production increased. The daily average for the most recent 12 months is 15.3 percent higher than the average in 2020, and it’s higher than the pre-pandemic average.
- Apprehensions of those trying to cross the southern border illegally are up 273 percent for the 12 months ending in June, even as the monthly figure for June dropped significantly.
- The average number of refugees admitted per month is 117 percent higher than the average under his predecessor.
- Corporate profits are up 36 percent.
- The international trade deficit for goods and services went up 22.3 percent.
- The number of people receiving food stamps has decreased by more than half a million.
- The debt held by the public has grown by 28.5 percent
- The S&P 500 has increased 42.9 percent.
