{"id":1173106,"date":"2021-12-30T16:34:16","date_gmt":"2021-12-30T21:34:16","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1173106"},"modified":"2021-12-30T16:34:18","modified_gmt":"2021-12-30T21:34:18","slug":"biden-i-have-the-strongest-first-year-economic-track-record-of-any-recent-president","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-i-have-the-strongest-first-year-economic-track-record-of-any-recent-president\/","title":{"rendered":"Biden: I Have the &#039;Strongest First-Year Economic Track Record&#039; of Any Recent President"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-i-have-the-strongest-first-year-economic-track-record-of-any-recent-president%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1173106&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">President Joe Biden declared on Wednesday that despite record inflation and a record trade deficit, he has the \u201cstrongest first-year economic track record of any president in the last 50 years.\u201d<\/p>\n<p>\u201cWe\u2019re ending 2021 with what one analyst described as the strongest first-year economic track record of any president in the last 50 years,\u201d the president tweeted, adding, \u201cLet\u2019s keep the progress going\u201d:<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We\u2019re ending 2021 with what one analyst described as the strongest first-year economic track record of any president in the last 50 years.<\/p>\n<p>Let\u2019s keep the progress going.<\/p>\n<p>\u2014 President Biden (@POTUS) <a href=\"https:\/\/twitter.com\/POTUS\/status\/1476311650424832000?ref_src=twsrc%5Etfw\">December 29, 2021<\/a><\/p>\n<\/blockquote>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>On the same day,&nbsp;the Commerce Department released a dismal <a href=\"https:\/\/www.breitbart.com\/economy\/2021\/12\/29\/never-been-weaker-u-s-trade-deficit-mushroomed-to-a-record-in-november\/\">trade deficit report<\/a>&nbsp;showing that the gap between the cost of imported goods exceeded the value of exported at a record high and would likely continue for the duration of the coronavirus pandemic. One economist said the report showed that the U.S. economy \u201chas never been weaker\u201d:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The Nov. U.S. merchandise trade deficit surged to $97.8 billion, a new all-time record high. The deficit shattered expectations of $86 billion, and is a 17.5% higher than the prior month. This horrific data proves the U.S. economy is a complete disaster. It has never been weaker!<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1476186056655572993?ref_src=twsrc%5Etfw\">December 29, 2021<\/a><\/p>\n<\/blockquote>\n<p>In another tweet Wednesday, Biden touted himself as a hero of the working class, citing his passage of the infrastructure bill while ignoring the implosion of his Build Back Better agenda. However, as CNBC <a href=\"https:\/\/www.cnbc.com\/2021\/12\/29\/economists-warn-of-inflation-inequality-in-2022.html\">also noted<\/a> on Wednesday, the current record inflation has further widened the gap between rich and poor, as lower-income \u201chouseholds bear the brunt of rising prices\u201d:<\/p>\n<blockquote>\n<p>The coronavirus pandemic has led to a new era of inflation inequality, economists warn, in which poor households bear the brunt of rising prices.<\/p>\n<p>That\u2019s because a bigger portion of their budget goes toward categories that have spiked in cost. Food is up 6.4% over the past year, for example, while gasoline jumped a whopping 58%. And now many people are facing those higher prices as federal stimulus programs fade away.<\/p>\n<p>A recent analysis by the Penn Wharton Budget Model found that low- and middle-income households spent about 7% more in 2021 for the same products they bought in 2020 or in 2019. That translates into about $3,500 for the average household.&nbsp;By contrast, spending by wealthy households went up by only 6%.<\/p>\n<\/blockquote>\n<div class=\"BoxInline-container\">\n<p>&nbsp;Chris Wimer, co-director of the Center on Poverty &amp; Social Policy at Columbia University, told CNBC that lower-income households are increasingly being forced to choose between essential items such as gas and food.<\/p>\n<\/div>\n<div class=\"BoxInline-container\">\n<div id=\"attachment_16198586\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/12\/Groceries-Flickr.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-16198586\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/12\/Groceries-Flickr.jpg\" alt=\"Groceries (gato-gato-gato \/ Flickr \/ CC \/ cropped)\" width=\"640\" height=\"480\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Groceries (gato-gato-gato \/ Flickr \/ CC \/ cropped)<\/p>\n<\/div>\n<\/div>\n<p>\u201cThey\u2019re essentially looking to stretch a dollar most days,\u201d said Wimer. \u201cIt\u2019s going to lead to difficult choices between putting gas in the car or paying for your kids\u2019 child care or putting food on the table.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden declared on Wednesday that despite record inflation and a record trade deficit, he has the \u201cstrongest first-year economic track record of any president in the last 50 &#8230;<\/p>\n","protected":false},"author":32,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1173106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1173106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1173106"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1173106\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1173106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1173106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1173106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}