drainbamage wrote:
Why would Trump and Pence tank the economy that they built into a roaring success for 3+ years? What a ridiculous accusation!! The rest of your post is just.....funny!
The United States is no longer experiencing a healthy economy. trump made sure to ignore the C****av***s, and it has decimated the US Economy as a result.
Remember that the Stock Market is NOT the same thing as the economy.
The Stock Market has been artificially inflated.
https://www.factcheck.org/2020/07/trumps-numbers-july-2020-update/"more than 22 million jobs disappeared between mid-February and mid-April."
"as of mid-June, the most recent month on record, total employment stood more than 7.8 million below where it was when Trump took office in January 2017."
"By the end of May, there were 17.8 million more job-seekers than job openings."
"But the net result is that as of the latest report, 274,000 fewer people were employed in manufacturing than when Trump took office. That followed a net decrease of 192,000 under Obama."
"Even before the C****-** p******c sent the economy into its current deep recession, the U.S. economy had been growing more slowly than Trump once promised."
"That growth halted in February, and the economy entered a sudden, steep recession, according to the Business Cycle Dating Committee of the National Bureau of Economic Research — made up of economists from leading universities. In the first quarter of 2020 the economy shrank at an annual rate of 5%, according to the U.S. Commerce Department’s Bureau of Economic Analysis.
The worst is yet to come. The Congressional Budget Office on May 19 forecast an absolute decline of 11% in second-quarter (April-June) real GDP — equivalent to an annual-rate decline of 38%. That would be by far the worst quarter since 1947, when the government began quarterly tracking of real GDP. The worst previously was the January-March quarter of 1958, when real GDP went down at a yearly rate of 10%."
"The most recent forecast of the Federal Reserve Board members and Federal Reserve Bank presidents, issued June 10, produced a median estimate of a 6.5% drop in real GDP for all of 2020 (measured from fourth quarter to fourth quarter, rather than from year to year).
CBO is only slightly less pessimistic. It issued an updated forecast July 2 projecting a 5.9% decline in GDP this year measured quarter to quarter (or 5.8% measured year to year). CBO said it now expects growth in the last half of this year will be even slower than it expected in May."