Democrats fixed the economy Trump broke.
The Next President Inherits a Remarkable Economy
Whoever wins the White House next week will take office with no shortage of challenges, but at least one huge asset: an economy that is putting its peers to shame.
With another solid performance in the third quarter, the U.S. has grown 2.7% over the past year. It is outrunning every other major developed economy, not to mention its own historical growth rate.
More impressive than the rate of growth is its quality. This growth didn’t come solely from using up finite supplies of labor and other resources, which could fuel inflation. Instead, it came from making people and businesses more productive.
This combination, if sustained, will be a wind at the back of the next president. Three of the past four newcomers to the White House took office in or around a recession (the exception was Donald Trump, in 2017), which consumed much of their first-term agenda. The next president should be free of that burden.
Meanwhile, higher productivity growth should make the economy a bit less prone to inflation, more capable of sustaining budget deficits, and more likely to deliver strong wages. All would be a boon to President Trump or President Kamala Harris.
Most leaders from around the world would trade their economies for the U.S.’s in a heartbeat. Through the second quarter, the U.S. grew 3%; none of the world’s next six largest advanced economies grew more than 1%. Even China is struggling.
That’s pretty impressive. That’s a bit of a Goldilocks outcome,” Robin Vince, chief executive of BNY, said in a recent interview. “A year, two years ago, very few commentators actually thought that was going to be possible.”
https://www.wsj.com/economy/the-next...onomy-7be2d059