Saying that spending hurts the economy is toxic and false

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Saying that spending hurts the economy is toxic and false
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“Biden and Democrats are responsible for our shrinking economy, and they’re only trying to make it worse,” Ronna Romney McDaniel, chairwoman of the Republican National Committee, insisted at the end of July. Republicans have consistently claimed that Biden’s policy initiatives — covid aid, money to fight climate change, student loan forgiveness — have harmed the economy and increased inflation.

Fact is, the US economy has performed strongly under Joe Biden. That’s especially true when you compare it to European economies.

There are a number of possible reasons for the discrepancy. But one thing is certain: Democratic spending programs did not result in economic catastrophe. Republicans claim that government aid is useless and harms the economy. They have been proven wrong.

READ MORE: Far-right Republicans trying to disenfranchise ‘lame duck’ Democrats from vote on critical budget bill

The Times’ Paul Krugman summarizes the relatively strong position of the US in comparison to Europe. In the fourth quarter of 2021, US GDP was 3 percent higher than before the pandemic. Europe, in contrast, had just reached the level it was before the covid.

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