07-10-2023, 04:12 PM
(07-10-2023, 02:07 PM)HarleyDog Wrote: True. However, the president does appoint many responsible for changing its course. To what extent I'm not sure, but he does have some control. I thought the economy was doing quite well until he took office.
Well, the economy had just tanked when he took over. Q2 of 2020 saw the worst real GDP drop since the Great Depression. It started on the way to recovery and the Biden administration has carried it through that. I would argue, though, that they aren't really doing anything major that is causing it. There have been good bills passed such as the Infrastructure bill and the CHIPS act, but those aren't really affecting the economy right now. The economy is just a machine and doing what it does. As long as inflation keeps decreasing, things should level out and the economy will continue to improve as people spend more.
The damage is already done, though. There are certain stereotypes about the economy and Dems/Repubs that aren't really true, but are widely believed. Many people are going to pin it on the Biden admin, fair or not, and he'll get grilled over it. It'll be up to him to try to explain what is going on and win people over.
