Are you better off than you were 4 years ago?
Figure 1: GDP per capita (blue), lagged 4 years (orange), in 2017$, SAAR. Source: BEA via FRED.
Yes, by 18.6% in output terms. What about cumulative change from beginning of administration?
Figure 2: Log GDP per capita since 2021Q1 (blue), since 2017Q1 (orange), in 2017$, SAAR. Source: BEA via FRED.
Note that even when comparing per capita income just before the pandemic to 2023Q4 output, it’s looking better under Biden.
