One can look at the economy either as a short-term phenomenon or in the long term. The state of the economy is also manifested in various quality of life issues which have fallen by the wayside - much of which was exacerbated by the pandemic, though the roots of our decline go back much further.
Where we once had vibrant industries is now called the "rust belt." Where we once had an educational system which was the envy of the world, we now have crumbling schools which have fallen woefully behind the rest of the industrialized world. People who once embraced peace and love during the 1960s became money-grubbing warmongers by the 1990s, and they're still that today. What was once the party of working people has become the party of Wall Street and Hollywood celebrities. Cities have fallen into decline, streets and infrastructure in disrepair, many school buildings in poor condition. There was once a time when a single income could support a family of four relatively comfortably - even for blue-collar, working class people. Now, families are struggling and scraping to get by even when they have two incomes.
I do agree with Biden's desire to see "the rich pay their fair share." Of course, Democrats have been saying stuff like that for a long time now, making one wonder just when they're going to actually get around to doing it. Inflation can be easily dealt with by the stroke of a pen. All Biden has to do is bring back FDR's Office of Price Administration, and problem solved. Easy peasy. Why is Biden mucking with his laissez-faire, "let the free market handle it" BS? That's what the Republicans want, but Democrats should want something different. Price controls, rent controls, socialized medicine - why don't we have these things? Is it because Democrats agree with the Republicans on matters like this? Aren't they capable of stepping out from among them and setting themselves apart? And they have the audacity to complain when some people view them as "the same"?