It's one thing to do well in easy conditions. But the true measure is how you handle challenging conditions, and few terms have been more challenging than the last 4 years.
But whether all that activity generates products and supply chains that are globally competitive is still a big question. I don't think the US is anywhere close to being out of the woods.
1. The Infrastructure Investment Bill 2. The Inflation Reduction Act 3. The CHIPs Act
The name of 2 is a bit of a misnomer (extremely common in US politics to give bills misleading names to make then more popular).
Between them, he significantly increased government investment in domestic infrastructure, green energy, and the semiconductor industry.
Short term, that has probably been a big part of the magic formula that has kept unemployment low while interest rates have been high in order to combat inflation.
What they have realized and said since, is the high prices were not just interest rate related, but due to supply chain shocks that happened due to covid+ukraine russia+china drama etc.
Once supply chains settled down as they do after the initial chaos when war starts prices started dropping. I am not an economist so take everything above with a pinch of salt.
I can’t tell if this is sarcasm or not
But to say the last four years which have been some of the calmest in history in the US has been the most challenging is hilarious.
Not the civil war, Great Depression, Cuban missile crisis, world war 2, COVID, GFC, etc.
It had to be sarcasm.
That's in the last four years, yes.
https://www.thegauntlet.news/p/how-the-press-manufactured-co...
Very disappointing.
Modern American history means last ~50 years. So that rules these out. Biden is great, but he's not going to ever come close to displacing Lincoln at the top of the heap.
COVID alone would have been one of the greatest crises of the last 50 years, but Biden's administration also had several others to deal with on top of COVID. (remember that 2022 was COVID's worst year).
The only comparable challenges in the last ~50 years would have been the Great Inflation and GFC. Carter did a smash up job appointing Volcker to fix the Great Inflation, but the fact the crisis festered for 15 years prior is a particularly bad smell.
The GFC is a great comparison. A stronger quicker response would have ameliorated it greatly. The last 4 years was handled well because Biden was part of the GFC response and learned from their mistakes.