Fox News contributor Liz Peek argues the coronavirus vaccine rollout, which began before President Biden took office, is a big factor in why the U.S. economy is back on track:
LIZ PEEK: The reason the economy is coming back has nothing to do with president Biden and everything to do with the vaccine that started to roll out even before he was president.
We know this because in the fourth quarter of last year the economy grew over 4%. It was already beginning to accelerate, governors and mayors across the country began to lift restrictions. This was an economy ready to burst out, consumers had $2 and a half trillion of excess savings ready to be spent and the minute they were allowed to go out of their houses and spend it that is what happened.
For President Biden to compare himself to Ronald Reagan who basically set off an entire decade of growth and prosperity and job gains by cutting taxes and lightning regulations on the American economy that had been in trouble for the prior decade is really ridiculous. By the way we are just beginning to see the potential problems that have come with Biden's policies, $1.9 trillion enormous spending package which included the extra unemployment benefits, $300 a week incremental unemployment benefits that basically slowed hiring, hiring should be much faster than it is and also begun to spur inflation. Inflation well above 5% in the country, those two things can be ascribed to Biden's big rescue plan which we did not need.