President Joe Biden bragged on Wednesday of stock market highs.
In a speech to honor labor unions at the White House, Biden said “the stock market has gone up exponentially since I’ve been president. You haven’t heard me say a word about it.”
Since Biden has been in office, the stock market has spiked nearly 17 percent.
According to the Independent, last week, Biden, in an apparent swipe at former President Donald Trump, said, “there have been so many records the stock market has hit under my presidency. Imagine if the other guy was here: ‘We’re doing great. It’s wonderful. The stock market is surging. It’s gone up higher under me than anybody.’ But that doesn’t — that doesn’t mean that it’s the best for the economy.”
Biden also said his measure of success was giving families “a little breathing room” to overcome the economic pressures incurred by the COVID-19 pandemic.
Under Trump, the economy showed continued improvements. With the exception of the global economic fallout following the pandemic, the U.S. economy still showed increasing signs of growth.
“During his first three years in office,” the BBC says, “President Trump oversaw an annual average growth of 2.5 [percent]. The last three years of the Obama administration saw a similar level of growth (2.3 [percent]).”