Amplify: Economic Growth Continues Under Biden Administration

May 30

The Biden economy continued to shore up retirements for American workers as, last week, the Dow Jones Industrial Average closed above the 40,000 mark for the very first time in its entire 139 years.

This historic milestone reflects the continued vitality of the U.S. stock market, which is essential for ensuring retirement security for people with 401ks and most pension systems.

Highlights—Biden’s Accomplishments:

Since Biden defeated Trump in 2020, the Dow Jones is up 45% – thanks to such Biden initiatives as the Bipartisan Infrastructure Act and the Inflation Reduction Act, both of which have accelerated investment, retirement security, and economic growth. These initiatives, along with the 2020 financial stimulus package helped bring the US economy out of the COVID recession faster than any other advanced nation.
During the 2020 campaign, Trump bombastically predicted that if Biden won, “The stock market will crash.” Conveniently, Trump forgot that due largely to his own mismanagement of the COVID pandemic, the Dow had lost 37% of its value, over 20 million jobs were eliminated and businesses were closed, as he undermined medical science in favor of his own political agenda.
Since taking office, the Biden Administration has created over 15 million new jobs, unemployment has remained under 4% for the longest period in 50 years, inflation is down 64% from its peak in June 2020, the number of uninsured Americans hit an all-time low of 7.2%, and U.S. salary increases are outpacing inflation.