The following Letter to the Editor was published in The Daily Sun on Dec 20, 2023.
Even the personalities on Fox Business channel could barely contain their enthusiasm as the Dow hit a record 37,000. They had to admit, begrudgingly, that Biden and his administration must be doing something right.
The facts are clear: As the Dow broke an all-time record, GDP growth last quarter was 5.2%; the Biden team has created 14.1 million jobs, seven times the number of the last three GOP presidents. Due to improvement in inflation, the Federal Reserve recently decided to hold interest rates at their current level and hinted at lower rates next year.
Per Bloomberg, the U.S. deficit continues to shrink; manufacturing construction spending, flat for many years, has skyrocketed since passage of the Inflation Reduction and CHIPS acts.
We are fortunate to have a President whose team has worked so hard to build out the middle class from the bottom up after Covid and Ian.
Steve Johnson, Punta Gorda