The assertion came throughout the president's in-person appearance on the late-night talk show Wednesday - his first ever - where he touched on several hot-button matters like abortion, climate change and inflation.
Nevertheless, Biden bizarrely started the interview by praising supposed success the US economy has seen under his administration - making the glaringly false allegation in the process.
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It comes as the average price for a gallon of gas in America topped $5 for the first time ever this week, and as the Labor Department showed, inflation has hit a 41-year high of 8.6 percent - with many now warning of a possible recession.
"Look, here's where we are," Biden, 79, stated throughout a roughly 20-minute Q&A. "We have the fastest-growing economy in the world." Receiving uproarious applause, he repeated twice more: "The world. The world."
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The president went on to mention numbers indicating recent increases in job growth - despite a cooling job market that has spurred economists and big banks such as Goldman Sachs to warn of a probable economic downturn in the following months.
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"We have 8.6 million new jobs just since I got into office, unemployment rates down to 3.6 percent, we've reduced the deficit last year by $320 billion," Biden announced. "This year, [we're] gonna reduce it by $1.7 trillion."
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He then declared: "So, we're the strongest economy."
The declaration from the democrat - who has been widely condemned for the increasing inflation rates, as well as an endless baby formula shortage - was demonstrably false.
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The US economy did see growth in 2021, figures from the UNs International Monetary Fund show, by a modest 5.7 percent - a figure beaten by more than 50 other nations that displayed faster growth that year.
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Nations to surpass the US ranged from larger, wealthier countries like China, Italy and France, which boasted GDP growth rates of 8.1 percent, 6.6 percent, and 7 percent, respectively.
The UK further enjoyed an economic increase more pronounced than the US as countries continue to recover from losses seen throughout the pandemic by a respectable 7.2 percent.
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Nonetheless, many were much poorer, developing countries, including Kenya, which witnessed an increase of 7.2 percent; Ethiopia, 6.3 percent; and India, an even more marked 8.9 percent.
Some nations, in the meantime, blew America completely out of the water, like Northern-African Nation Libya, which saw growth of 177.3 percent, and South America's Guyana, which boasted an also-impressive 19.9 percent surge.