Almost half of Americans incorrectly believe the economy is shrinking, the US is in a recession, the stock market is down, and unemployment is at a 50-year high. In reality, the economy is growing, the stock market has reached a record high, and unemployment has remained under 4% for the longest stretch in over 50 years under Biden.
Biden's administration has seen significant economic growth, with the economy gaining 15 million jobs so far, contrasted with Trump's tenure where the economy lost 2.9 million jobs. Investments in infrastructure, semiconductors, and green technologies have paid off, with new factories seeing a threefold increase in spending over the past three years.
Under Biden, the US's trade deficit with China has significantly decreased by $103 billion (27%), reaching the lowest level since 2010. In comparison, under Trump, the national debt rose by about 39% from $19.9 trillion to $27.8 trillion, highlighting contrasting economic performances between the two administrations.
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