Joe Biden deserves credit for the economy

In the United States, a significant increase in entrepreneurial activity was reported during Joe Biden's presidency, with a record of 21 million new business applications filed. This served as an indicator of optimism among American entrepreneurs, demonstrating strong confidence in economic recovery, particularly after the challenges faced during the COVID-19 pandemic. The surge coincided with various government aid programs aimed at supporting small businesses, including substantial federal contracting opportunities totaling $183 billion. Notably, $78 billion was specifically allocated to assist small disadvantaged businesses, which contributed to a more inclusive economic environment. Moreover, the Biden administration's active support for small businesses has been viewed as instrumental in driving job creation and sustaining economic growth. With small businesses making up over 40 percent of GDP and employing close to half of all private sector workers, their role in the economy cannot be overstated. The administration's commitment to these businesses has been highlighted by the provision of over $450 billion in emergency relief, which benefited more than six million small businesses, helping them navigate through potential crises. Biden's economic strategies were markedly different from those that preceded him. He emphasized reversing the trend of 'trickle-down economics' and sought to foster an economy that grows from the middle out and the bottom up. His economic philosophy involved direct support for working-class individuals, ensuring the policies would benefit a broader segment of society, a shift attempted to mend economic gaps that were pronounced during previous administrations. As Biden's presidency neared its conclusion, he prepared to reflect on these achievements, underscoring the rhetoric of a strengthened economy amid global challenges. His final addresses would serve as a farewell to both his legacy and his approach to economic recovery and engagement on critical foreign policy issues designed to make America regain its standing on the global stage. He aimed to articulate the successes, improvements, and potential future pathways following the unprecedented disruption caused by the pandemic and geopolitical tensions, marking a significant chapter in American economic history.