William Hemmel: If this is a bad economy, I would like to know the definition of a good one

To The Daily Sun,

It pains me every time I see letters from the MAGA cult crew trying to make everyone believe the current U.S. economy is absolutely atrocious and sinking every day. Once again, here are the actual facts, along with easy sources to confirm them. 

Mortgage rates have been dropping for the last two months straight, and are expected to continue dropping. New home construction is up over 4%. (Freddie Mac).

OPEC+ cuts production further to blunt falling oil prices (Washington Post Nov. 30). U.S. oil production production is at an all-time high (WP Dec. 31). Gas prices are now below $3 in Laconia, and currently average $3.11 nationally. (AAA)

Since taking office, President Joe Biden has created 14.4 million jobs — more than twice what the former guy did in his first three years. Unemployment has dropped below 4% for the longest stretch in 50 years. Currently at 3.7%. (U.S. Government). Wages are also up — from auto workers to fast food.

The Dow Jones average is up 13.7% since January 2023, (37,555 as of this writing). The S&P is up a whopping 24.7% at 4,706.

Low unemployment, a record high stock market, lower inflation, record oil production, cheaper gas. If this is a bad economy, I would like to know the definition of a good one.

To paraphrase Jack Nichols in “A Few Good Men:” “They can't handle the truth.”

Three cheers for Bidenomics.

William Hemmel

Moultonborough