Trump says the economy went to hell under Biden. The reverse is true | US economy

Donald Trump continues to say that he inherited a terrible economy of Joe Biden and many Americans believe it, even if it is not true. During her white house marketing event for Tesla Tuesday, Trump said that the United States and his economy went to hell under Biden. Last week, in his national speech at Congress, Trump said: we inherited the last administration an economic disaster and a nightmare of inflation.

But the truth is that by standard economic measures, the American economy was in excellent form when Biden returned the keys to the White House to Trump, even if most of the Americans, upset by inflation, were told that the economy was in bad shape.

When Biden left his duties, the unemployment rate was 4.1% low and for Bidens four years in power, the average unemployment rate was lower than that of any president since the 1960s. Trump has been reduced repeatedly against high inflation under Biden, but the fact is that at the time when Biden left his duties, the inflation rate had only fallen 2.9% more than two -thirds of his peak Federal reserves.

Not only was that, the growth of the GDP of nations was impressive, increasing at a solid rate of 3.1% at the end of the term Bidens. Since the end of the pandemic, economic growth in the United States has been considerably stronger than in the United Kingdom, France, Germany and other G7 nations. Shortly before election day, Economist magazine published a story by saying that the American economy was the desire of the world and had left other countries rich in the dust.

Trump often says that employment growth under Biden was terrible, but the fact is that the United States added 16.6 million jobs during the presidency of Bidens, more than for any duration of all previous American president. Under Trump, employment growth was much worse during its first four -year term, the nation lost 2.7 million jobs on the whole, making the presidency of Trumps the first from Herbert Hoovers during which the nation underwent a net loss of jobs. The pandemic was largely responsible for this, but even during the first three years in power, before the pandemic blow, employment growth was only half as fast as under Biden.

Recently, Trump has repeatedly boasted of the way in which his prices will bring manufacturing. Trump does not note, however, that Biden managed to bring back manufacturing and factory work. Under the last presidents, the United States has lost manufacturing jobs, but under Biden, the nation has won 750,000 factory jobs, the most under any president since the 1970s. A great reason for this was that, following the legislation on the jobs of Bidens Green and the law on flea to stimulate the production of semiconductor, manufacturing investments explode, more than double during the Bidens four years in power.

Biden was very proud of how the economy worked under him, even if he failed to persuade most of the Americans that it was fine. In December, Biden wrote: income increased by almost $ 4,000 adjusted for inflation [since he took office]And the unions have won salary increases of 25% to 60% in industries such as cars, ports, aerospace and trucking. We have seen 20 million requests to start small businesses. Our economy has increased by 3% per year on average in the past four years faster than any other advanced economy. The production of inner energy is at a record level.

Many economists are vigorously in disagreement with the Trumps say he has inherited a poor economy. Paul Krugman wrote that in January, when Biden left his duties, the United States had what was very close to a Goldilocks economy, in which everything is more or less just. Mark Zandi, chief economist of Moodys Analytics, had even more brilliant words. President Trump inherits an economy as good as ever, he said. The American economy is the desire for the rest of the world, because it is the only important economy that increases more quickly after pandemic than pre-countryic.

Trump pays attention to a measure of the economy above all the others: how is the stock market. During Bidens four years, Wall Street has succeeded very well. The industrial average of Dow Jones increased by 39% and the S&P 500 climbed by 55.7%, including a leap of 28% in 2024. On the other hand, the stock market has been down since the whole since Trump took up his duties while investors have been alarmed about the tariff war of the presidents against USS business.

Pass the promotion of the newsletter after

Sign up this week in Trumpland

A deep dive into politicians, controversies and quirks surrounding the Trump administration

Privacy notice: Newsletters may contain information on charitable organizations, online advertisements and content funded by external parties. For more information, see our privacy policy. We use Google Recaptcha to protect our website and Google privacy policy and service conditions apply.

After promoting the newsletter

Admittedly, there have been serious economic problems under Biden. The affordability of the accommodation was a major problem and inflation has reached uncomfortable levels. The price peak was largely caused by two factors: the pandemic, which has given rise to global problems of the supply chain, and to the war of Poutines in Ukraine, which increased the prices of food and fuels. But Trump, by denouncing Biden on inflation, ignores it all.

While Trumps Trade War erases the markets and means that nervous CEOs are rethinking their investment plans, many economists say it is more and more likely that the United States will trip this year.

Trump has a long story of refusal to accept blame for errors and problems, and by saying repeatedly that he has inherited a horrible economy, he seems to lay the foundations to blame Biden if the country slips into a painful recession.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos