Karl W. Smith, Columnist

The Biden Economy Is Actually Pretty Good

The president deserves some credit for avoiding the policy mistakes of a decade ago, even if voters are unlikely to give it to him.

December 9, 2021 at 11:00 AM UTC

By Karl W. Smith

Karl W. Smith is a Bloomberg Opinion columnist. Previously, he was vice president for federal policy at the Tax Foundation and assistant professor of economics at the University of North Carolina.

Reason to smile?
Photographer: JIM WATSON/AFP

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Americans are deeply disappointed in President Joe Biden’s performance on the economy. Almost two-thirds of voters say that the country is on the wrong track, almost half say the economy will worsen next year and, by a 29-point margin, more expect inflation to get worse rather than better.

I certainly have had my criticisms of the Democrats’ economic policy. But it’s important to note what they got right — and ask what they could have done, and could do, better.