NEWYou can now listen to Fox News articles!
Critics panned President Biden on social media for boasting about his 2021 economic record.
“We’re ending 2021 with what one analyst described as the strongest first-year economic track record of any president in the last 50 years,” Biden said on Twitter Wednesday. “Let’s keep the progress going.”
‘BOOMING’ BIDEN ECONOMY? ‘THE FIVE’ BLAST LIBERAL MEDIA, DEMS FOR FLATTERING INFLATION COVERAGE
U.S. President Joe Biden. Photographer: Ken Cedeno/UPI/Bloomberg via Getty Images (Ken Cedeno/UPI/Bloomberg via Getty Images)
But Biden failed to cite which analyst made the claim, leading to some users to mock the president’s claim in response.
Biden made a similar claim in a speech last week, again failing to name the analyst.
“And at the end of 2021, with what one analyst described as the ‘strongest first-year economic track record of any President in the last 50 years’: nearly 6 million new jobs, a record number for a new President, because of my staff and my Cabinet; unemployment down to 4.2 percent, three years ahead of the predicted time it would take to get to that number,” Biden said during the speech.
President Biden. (Photo by ANDREW CABALLERO-REYNOLDS/AFP via Getty Images) (ANDREW CABALLERO-REYNOLDS/AFP via Getty Images)
While the economy has recorded some strong numbers in 2021, a previous fact-check of the president’s claims noted that much of the progress actually happened under former President Donald Trump.
“Since shrinking by more than 30% in the first six months of 2020, the US economy has recorded a strong bounceback and returned to above pre-pandemic levels,” read a BBC analysis of Biden’s economic claims last month. “Under Mr Biden, the US economy has continued to grow this year, but a large part of the recovery happened under former president Donald Trump.”
CLICK HERE TO GET THE FOX NEWS APP
President Joe Biden. (AP Photo/Carolyn Kaster) (AP Photo/Carolyn Kaster)
Biden also inherited an economy ravaged by the shutdown policies in response to COVID-19, a fact that BBC noted the president often leaves out of his talking points.
“But this job growth comes from a low base point, given that in April last year, unemployment hit its highest level since the Great Depression of the 1930s,” the analysis read. “More than 22 million jobs were lost in the space of two months because of the impact of coronavirus.”
