- President Joe Biden is fighting to persuade Americans that the U.S. economy is the world’s best.
- His opponent, Donald Trump, routinely depicts the United States as a commercial wasteland.
- By the numbers, Biden is correct: America’s economy is stronger than that of other developed nations.
CNBC
President Joe Biden is fighting to convince inflation-weary voters that the U.S. economy is healthy.
“America has the best economy in the world,” he told NBC’s “TODAY” on Monday, laying out an argument that is central to his reelection campaign.
America’s economic standing in the world is becoming an early flashpoint on the campaign trail, where former President Donald Trump routinely depicts the United States as a commercial wasteland.
“We are a nation whose economy is collapsing into a cesspool of ruin, whose supply chain is broken, whose stores are not stocked, whose deliveries are not coming,” Trump shouted at a Georgia rally last month.
But the numbers paint a different picture, one more in line with Biden’s narrative of American economic dominance than Trump’s apocalyptic warnings.
Inflation has fallen sharply from its 2022 highs, although it has ticked back up in the past several months.
“On inflation, it is too soon to say whether the recent readings represent more than just a bump,” Federal Reserve Chair Jerome Powell said Wednesday.
