ICYMI: "U.S. Economy Again Leads the World"

MSNBC host Rachel Maddow laid out how "the U.S. economy is doing great because of the signature legislative achievements of the Biden-Harris Administration." Maddow quoted from:

• The Wall Street Journal: "U.S. Economy Again Leads the World, IMF Says"
• The Economist: "The envy of the world: the American economy"
• The New York Times: "by many measures, the job market is as healthy as it has ever been"
• The Washington Post: "2024 is shaping up to be one of the best economic years of many Americans' lifetimes." 

Read more below:

MSNBC: The Rachel Maddow Show
[Rachel Maddow, 10/28/24]

MADDOW: "U.S. Economy […] Leads the World," says IMF, International Monetary Fund. Quote, "The [United States] is increasingly pulling ahead of the world's advanced economies, with a surge of investment paying off in higher productivity and wages. […] In what has become something of a trend, the IMF upgraded the outlook for both U.S. and global growth, though more [so] for the [U.S.]." They made a forecast of U.S. economic growth in January, which they then upped in July, now they've had to up it again because we're not only doing well, we're doing so much better than anyone expected.

U.S. economic growth is, quote, "increasingly ahead of [all the world's] wealthy nations." U.S. economic growth beats everyone else in the Group of Seven, the G7 major advanced economies. And according to the IMF, why is it that the United States economy is doing so well, better than everybody else in the world? Well, it's because wages are up for regular people, productivity is up. Quote, "Investor money has flooded the U.S. in recent years, while big legislative packages funded green energy and infrastructure. Meanwhile, abundant domestic supplies largely insulated U.S. companies from energy shortages and price shocks. Economists say that has all led to a surge in investment in the U.S., which boosts productivity." And quote, "Productivity is the main ingredient for higher long-term growth and living standards." […]

The United States is beating the pants off the whole rest of the world economically. And why is that? That's in part because—what did they say? Because of, quote, "big legislative packages fund[ing] green energy and infrastructure." In other words, the U.S. economy is doing great because of the signature legislative achievements of the Biden-Harris Administration.

And what have those signature legislative accomplishments achieved for the American people? They've resulted in what for the American people? Quote, "rising real […] wages" and "[rising] productivity." Which is what? It is quote, "the main ingredient for higher long-term growth and [higher] living standards." That's The Wall Street Journal.

What the Biden-Harris Administration has done economically has produced the greatest economy in the world, with better prospects for Americans on wages, on long-term growth, and on living standards than any other major economy on earth. That's The Wall Street Journal, that's the IMF.

Here's The Economist on the U.S. economy right now being, quote, "The envy of the world." "The envy of the world: the American economy." Here's The New York Times on how what we're experiencing right now in 2024 is the best jobs market, the most "healthy" job market we have ever had in the history of the United States of America. Here's The Washington Post on how this is likely "the best economic year" of any of our lives—this year, 2024.