The United States’ recent economic and social indicators are often used to judge the performance of the two most recent presidents. A look at ten commonly cited metrics shows how the numbers have shifted under Donald Trump (2017‑2021) and Joe Biden (2021‑present), and why those figures may matter less than they appear for individuals who can diversify their income and assets.
Key metrics under Trump vs. Biden
| Metric | Trump (2017‑2021) | Biden (2021‑present) | Observations |
|---|---|---|---|
| Inflation | Near‑zero in early 2020, then rose sharply with the pandemic | Peaked around 9 % in 2022, now back under 4 % | Inflation spikes affect high‑earners more directly, but the broader public’s reaction drives political pressure. |
| Real wages (earnings) | Steady growth | Fell early in the term, now recovering to within ~2 % of the baseline (the day Biden was inaugurated) | Real‑wage trends influence most workers; entrepreneurs benefit from income sources outside the U.S. |
| Employment rate (ages 25‑54) | 83 % employed pre‑COVID, fell during the pandemic, recovered under Biden | Similar recovery, but overall employment remains a political flashpoint | High employment reduces social unrest; low employment can increase pressure on businesses. |
| Federal budget deficit | Generally lower than under Biden, except for the 2020 COVID surge | Larger deficits, with total debt exceeding $34 trillion | Debt servicing ultimately falls on taxpayers with disposable income. |
| Homicide rate | Slightly lower | Slightly higher toward the end of Trump’s term, then rose again | Crime statistics are often politicized; the U.S. still ranks in the lower third of violent‑crime rates globally. |
| Stock‑market performance | Strong gains, especially in 2017‑2019 | Continued growth, with the market reaching new highs under Biden | Market returns can be accessed by non‑U.S. investors as well. |
| Illegal immigration apprehensions (southern border) | Significantly lower | Increased sharply after 2020, peaking early in Biden’s term | Border enforcement is a contentious policy issue. |
| Presidential approval rating | Higher at comparable points in the term | Currently below Trump’s rating at the same stage | Approval reflects public sentiment but does not directly dictate economic outcomes. |
Why the numbers may not dictate personal outcomes
- Geographic concentration risk – Individuals whose income, investments, or business operations are tied primarily to the United States are exposed to policy swings, tax changes, and social unrest. Diversifying revenue streams across borders can mitigate that exposure.
- Currency and market diversification – Holding assets in multiple currencies and participating in foreign equity markets can smooth returns when the U.S. market underperforms or when domestic inflation erodes purchasing power.
- Tax environment – Some jurisdictions offer substantially lower personal income tax rates (single‑digit percentages) compared with the U.S. top marginal rate of 37 %. Relocating residence or establishing offshore structures can reduce tax liabilities, provided legal compliance is maintained.
- Regulatory climate – Countries with lower unemployment, stricter law‑and‑order enforcement, and business‑friendly regulations (e.g., certain Gulf states, Southeast Asian economies) may present a more stable operating environment for entrepreneurs.
Practical steps for risk‑aware individuals
- Assess income concentration – Determine what percentage of your earnings comes from U.S. sources. Aim to keep a significant portion (e.g., >30 %) in foreign markets or currencies.
- Explore residency options – Research countries that grant residency or citizenship through investment, property purchase, or long‑term stay programs. Consider factors such as tax treaties, cost of living, and political stability.
- Open offshore banking or brokerage accounts – Diversify where you hold cash and investments to avoid single‑jurisdiction lock‑in. Ensure accounts comply with reporting requirements (e.g., FATCA, CRS).
- Invest in non‑U.S. equities – Allocate a portion of your portfolio to emerging‑market funds, regional ETFs, or direct shares in foreign companies to capture growth outside the U.S. market cycle.
- Monitor policy changes – Keep an eye on fiscal policy, immigration law, and regulatory shifts that could affect your business or personal finances, and be ready to adjust your exposure accordingly.
Bottom line
While headline metrics such as inflation, employment, and budget deficits differ between the Trump and Biden administrations, they do not automatically dictate an individual’s financial well‑being. The decisive factor is the degree of reliance on a single country’s economy and political system. By spreading income, assets, and residency across multiple jurisdictions, individuals can reduce exposure to domestic policy swings, lower tax burdens, and potentially improve overall financial resilience.
