WSJ points out the Biden Boom is real and that the next president will have a strong wind at his or her back.
Thanks Joe.
Joe-nomics continues to kick tushie.
Whoever wins the White House next week will take office with no shortage of challenges, but at least one huge asset: an economy that is putting its peers to shame.
With another solid performance in the third quarter, the U.S. has grown 2.7% over the past year. It is outrunning every other major developed economy, not to mention its own historical growth rate.
More impressive than the rate of growth is its quality. This growth didn’t come solely from using up finite supplies of labor and other resources, which could fuel inflation. Instead, it came from making people and businesses more productive.
This combination, if sustained, will be a wind at the back of the next president. Three of the past four newcomers to the White House took office in or around a recession (the exception was Donald Trump, in 2017), which consumed much of their first-term agenda. The next president should be free of that burden.
