Домой United States USA — Art Trump’s Economy Really Was Better Than Obama’s

Trump’s Economy Really Was Better Than Obama’s

238
0
ПОДЕЛИТЬСЯ

At least until the pandemic, the president’s unconventional policy got unprecedented results.
(Bloomberg Opinion) — Joe Biden has argued that President Donald Trump didn’t so much build a strong economy as inherit one. It’s good line — but it ignores the successes, at least before the pandemic, of Trump’s unconventional policy. If Biden is elected president, he should continue Trump’s economic approach rather than returning to Barack Obama’s. Popular Searches APPLE INC. AAPL ▼ 108.04 -7.28 -6.31% CONSTELLATION BRANDS, INC. STZ ▼ 163.82 -1.94 -1.17% TESLA, INC. TSLA ▼ 387.00 -23.83 -5.80% AMAZON. COM, INC. AMZN ▼ 3,023.01 -188.00 -5.85% Between December 2009 and December 2016, the unemployment rate dropped 5.2 percentage points, from 9.9% to 4.7%. By December 2019, it had fallen another 1.2 percentage points, to 3.5%. A cursory look at those numbers might lead you to believe that the improvement under Trump was at best a continuation of a trend that began nearly a decade earlier. It’s necessary to place those numbers in context. By 2016, officials in the Treasury Department and at the Federal Reserve had concluded that the economy was at full employment and that further improvement in the labor market was unlikely. This was in line with the Congressional Budget Office’s guidance that further declines in the unemployment rate would push the economy beyond its sustainable capacity.

Continue reading...