President Joseph Biden ends his term with a 39% approval rating, according to an AP-NORC poll. Biden oversaw monumental shifts in America, from the economy and healthcare to foreign relations and energy.
Biden’s term began with his Build Back Better agenda to revitalize the economy. He first signed the $1.9 trillion American Rescue Plan to recover from the pandemic via stimulus payments to families through child tax credits and unemployment benefits. It also supported key industries including agriculture, public health, small business and education.
Other legislation which was supposed to be part of Build Back Better struggled in Congress. They were eventually renegotiated into several other laws.
The Infrastructure Investment and Jobs Act dedicated $1.2 trillion into transportation and clean energy infrastructure, broadband internet access and pipelines.
The CHIPS and Science Act invests $280 billion to increase high tech research and domestic production of semiconductor chips, a crucial component in most electronics. Through grants, loans and tax benefits to American companies, it decreases the U.S. reliance on states like Taiwan and South Korea, which could create a national security crisis if those nations are threatened.
The Inflation Reduction Act raised the minimum corporate tax rate, invested $369 billion in clean energy infrastructure, allowed medicare to lower prescription drug prices and aimed to decrease the federal deficit by $300 billion by 2031.
Contrarily, these laws also lack some funding measures and take time to implement due to procedures like contract negotiation and acquiring construction materials.
Biden also fell short in permanently expanding subsidies and eligibility for Social Security, the Affordable Care Act and child tax credits. His student loan forgiveness plan was struck down by the Supreme Court. He attempted to establish a generous repayment program via an executive order, but it is still being contested in court and will likely be reversed by Trump.
Despite its many shortcomings, the economy has impressively shaped up. Despite inflation sticking stubbornly above 2.5% since 2021, Biden’s term was also marked by a consistently low unemployment rate, landing at 4.1% in December. The economy has gained a net 15.7 million jobs since before the pandemic, and GDP has grown a healthy 2.3% per year since 2021.
In foreign affairs, Biden has had just as many successes as failures. The wars in Ukraine and Gaza along with the tumultuous withdrawal from Afghanistan will always tarnish his legacy. However, it’s worth noting that Biden was chiefly responsible for rallying support for sanctions on Russia, sending military and humanitarian aid to Ukraine to hold back the Russian advance and strengthening NATO.
Biden also toiled in intense ceasefire negotiations between Israel and Hamas leadership. A final agreement was signed on Saturday. It will take months to fulfill, including military occupation of Gaza and both sides releasing hostages (among them seven American citizens).
As the country enters a new era, the nation optimistically waits for President Donald Trump to repair what his predecessors have been unable to do and build on their achievements.