Joe Biden, then -- that's President Biden to all of you in America -- just how is he doing on the economy? Best modern-age president yet? Worst? We should take a peek at his numbers.


Positives:

+ He's on pace to having the best economic growth (by far) since Bill Clinton, according to a metrics created by Bloomberg columnist Justin Fox. Fox combines the gross domestic product (GDP) with the gross domestic income (GDI) and it comes out giving Biden a reading of 3.3. That betters the marks of 1.8 by Trump, 2.2 by Obama, and 1.5 by Bush. (Clinton comes in with a shiny and showy 4.0.)

So, should we just give the crown of best economy of late to Biden, or keep on looking? How about the stock market, inflation, and poverty rate? First, let's finish up on the positives. 

+ Child poverty was about even as of January, 2022. Still we should count the child poverty rate as as a positive for Biden as the American Rescue Plan, instituted at the beginning of the Biden administration, had cut child poverty in half. Just today, word came that child tax credits were left out of the spending bill. "Republican leaders decided to send a lump of coal to America’s children this year,” said Colorado Sen. Michael Bennet. (One can look at it two ways, however, as the failure to extend the tax credits will help hold down the national debt.) 

  • + Ten million jobs have been created; total employment is now half a million higher than before the pandemic. Biden says the job growth is the fastest in our nation's history.
  • + Unemployment had fallen to 3.5 percent as of October.
  • + After-tax corporate profits have set new records. 
  • + The number of people without health insurance has dropped by 1.1 million.

  • And now, it's time to get to the negatives. Where can we ding this guy? The negatives:
  • - The S&P 500 dropped 5.6 percent from when Biden took office to October of this year.  
  • - Gas prices have increased (shot up would be a more accurate discription). The average price for a gallon of gas was $2.39 when Joe entered the White House. Now? After dropping substantially the past month or two, they are still high at $3.48.
  • - Inflation whipped up to it's highest level in more than 40 years. Consumer prices have increased 13.2 percent. 
  • - After adjusting them for inflation, earnings have dipped 4.4 percent.
  • - The trade deficit has continued to expand. 
  • - Home prices are up 29 percent. 
  • - The national debt has continued to balloon. It stood at $27.7 trillion when Biden took office and is now over $31 trillion.