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Opinion
Matthew A. Winkler

Biden's Economic Performance Has Proved Unbeatable

No first-year president going back to Carter comes close to matching the current White House occupant’s No. 1 or No. 2 ranking in each of 10 key measures.

President Joe Biden has the economy and markets humming.

President Joe Biden has the economy and markets humming.

Photographer: Mandel Ngan/AFP via Getty Images

U.S. financial markets are outperforming the world by the biggest margin in the 21st century, and with good reason: America’s economy improved more in Joe Biden's first 12 months than any president during the past 50 years notwithstanding the contrary media narrative contributing to dour public opinion.

Exceptional returns from dollar-denominated assets, especially the S&P 500 Index in both absolute terms and relative to its global counterparts, can be attributed to record-low debt ratios enabling companies to reap the biggest profit margins since 1950. Corporate America is booming because the Biden administration's Covid-19 vaccination programs and $1.9 trillion American Rescue Plan reduced the jobless rate to 4.2% in November from 6.2% in February, continuing an unprecedented rate of decline during the Covid-19 pandemic.