Skip to main content
Will Biden Turn Boom Into Bust?
Democratic presidential nominee and former Vice President Joe Biden waves to supporters before speaking at a Drive-In rally at Dallas High School, in Dallas, Pennsylvania, on October 24, 2020.
Photo by ANGELA WEISS/AFP via Getty Images

Will Biden Turn Boom Into Bust?

Irwin M. Stelzer

Any doubt that the American economy is a resilient beast is in the process of being dispelled. It is in the midst of an unexpectedly sharp recovery. This is not to deny rampant suffering: although jobless claims plunged last week and Amazon continues to gobble up new staff 100,000 at a time, the jobs market remains beset by shutdowns and longer-term trends that have been compressed from several years into a few months. Many small businesses have been shuttered, often permanently.

But the economy is in far better shape than we dared expect only a few months ago. It probably grew in the third quarter at a rate that puts gross domestic product about where it was a year ago, when Covid-19 had not yet.

Read the full article in The Times

Related Articles

U.S.-Japan Alliance in Full Bloom

Patrick M. Cronin

Washington’s cherry blossoms are beyond their peak, but the U.S.-Japan alliance will be in full bloom this Friday when Prime Minister Yoshihide Suga b...

Continue Reading

Counterbalance | Ep. 7: Gadi Taub on the Political Deadlock in Israel

Michael Doran & Marshall Kosloff

Israel just had its fourth election in two years and is still struggling to form a government. Israeli professor, pundit, and screenwriter Gadi Taub t...

Continue Reading

Joe Biden and the Whig Restoration

Mike Watson

Having pledged to “restore the soul of America” in his victory speech, Joe Biden and his congressional allies are moving rapidly to enact his domestic...

Continue Reading