The demand side of the economy — investment in everyday Americans, as opposed to the supply — tax cuts for the ultra-wealthy — recently had its problems, but its net benefits outweigh any negatives.
After historic divestment in social programs, Congress reversed course, and the pandemic prompted legislation to ignite the demand side of the economy and investments in everyday Americans.
After the presidential election, Congress voted to rebuild the American middle class.
Negatives
These historic, overdue investments compounded the supply-side shortages in the aftermath of the global COVID shutdown and admittedly worsened inflation. The causes of inflation are multifaceted; not all are associated with spending, but to improve, we must concede it's been painful.
Positives
The economy recovered faster than at any time in history.
Child poverty fell by almost 30%
Food insufficiency fell by 26%
Real wages for workers increased by 9%, and mIddle-income workers' wages grew between 2.4- 3.9% after inflation, the fastest rate in 40 years.
Unemployment has fallen to its lowest level since 1969,
Ten million people have applied to start small businesses.
We should learn from this and improve for the future. Investing in Americans is our future. We have unleashed a manufacturing boom, helped rebuild our infrastructure, and we're bringing the supply chain back home. We're lowering costs for hardworking families and creating jobs that don't require a four-year degree.
Before this, Congress tried to invest in the economy's supply side with tax cuts to the ultra-wealthy and millionaires, which led to one of the most significant deficits in United States history. We must continue a balanced approach to the economy and keep pragmatically investing in everyday, hardworking Americans.
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