The Commerce Department reported the third quarter GDP came in at an annual rate of 4.3%. The media described the report as a "soaring" GDP. Never mind that it never even came close to the high GDP numbers during the Biden Administration's first three quarters of his first term in 2021. The media was just miffed at Biden so they turned their backs on America in their reports.
Now we can compare the GDP for the first three quarters of Trump first year of his second term in 2025 to Biden's first three quarters of his first year in 2021. During Trump's first three quarters, the GDP averaged 2.5% per quarter on an annual basis. In Biden's first three quarters the GDP averaged 5% per quarter on an annual basis.
No matter how you look at it, the Biden economy did much better than the Trump/GOP economy and Biden had to deal with COVID while Trump did not. The first three quarters of 2025 confirm what history and precedent tell us, that the GOP and Trump are terrible when it comes to economic matters. The government will announce sometime in January or February the GDP for the whole year 2025, and one can be sure it will not equal the 5.9% the Biden Administration posted for the year 2021.
But don't look for the media to report the comparison.
This commentary written by Joe Lorio
