Bidenomics is fueling an infrastructure increase that just about quadruples projected GDP

GDP growth for the first half of the year was forecast at 0.5%, but the estimate has been revised to 1.9% due to the infrastructure boom triggered by President Biden’s policies.

CNBC reported:

Biden’s Infrastructure Investment and Jobs Act is fueling “a boom in large-scale infrastructure,” wrote Ellen Zentner, chief US economist at Morgan Stanley, in a research note published Thursday. In addition to infrastructure, “manufacturing is also showing great strength,” she wrote.

Because of this unexpected increase, Morgan Stanley is now forecasting GDP growth of 1.9% for the first half of this year. That’s nearly four times the bank’s previous forecast of 0.5%.

….

Analysts also doubled their original estimate for Q4 GDP growth to 1.3% from 0.6%. Looking ahead, they upgraded their forecast for real GDP in 2024 by a tenth of a percent to 1.4%.

President Biden likes to say Bidenomoics works because it works. The country is recovering strongly from the pandemic and Donald Trump’s failed policies. It’s a forgotten fact, but Trump’s tax cuts for the rich and the failed trade war with China put the country on the path to a 2020 recession before COVID even hit.

Biden not only saved the economy from a pandemic, but also from Donald Trump’s failed economic policies.

Economic data from 2019 showed signs of a looming Trump recession.

Trump’s economy was based on the fumes of the Obama recovery. Economic activity under Trump peaked in February 2019. Economists argue that the The United States was already in recession before the COVID lockdowns.

President Biden is not benefiting from a COVID recovery. He has taken actions that have allowed the economy to change Trump’s course.

Biden proves what research has shown for a long time. Trickle-down economics doesn’t work, and the true way to build a thriving economy is from the center out, not top down.

Jason is the managing editor. He is also White House press secretary and congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. The focus of his thesis was on public policy with a focus on social reform movements.

Awards and professional memberships

Member of the Society of Professional Journalists and the American Political Science Association