Is US economy better or worse now than under Trump?

Is Us Economy better or worse now than under Trump?

This is a question that’s been asked,” are you better off now than you were four years ago. To answer this question regarding our economic comparison for the past four years and the current four years, I reviewed a study done by the  BBC.com Jake Horton reporting author (September 2, 2024).

Let’s start with Mr. Horton analysis of both administrations economic positions. According to the findings of Mr. Horton, Trump says that he created the greatest economy in the history of our country, and the Biden administration has ruined it.Fact, Trump claim is not true  The Gross Domestic Product (GDP) there was according to the study by Mr.Horton a dramatic collapse in this figure during Covid, many businesses shut down. The economy bounced back strongly under Trump and this has continued under President Biden. 

Mr. Horton’s study also says that during Trump’s four years in office, it was not the greatest economy in US history as he (Trump) likes to claim. Between January 2017 and January 2021, average annual growth rate was 2.3%. Under President Biden this figure (growth rate) 2.2%

Inflation according to Trump is the worst inflation we’ve ever had, not True, prices hit a peak of 9.1% in June 2022 but have since fallen to around 3%. Covid and the Trade war with China are factors that contributed to the price increases. Both factors (covid and the price war) happened during the Trump administration. 

Employment during Trump’s first three years in office 6.7 million jobs were added, and 16 million jobs since President took office January 2021. The unemployment rate under Trump was 3.5%, and under President Biden the unemployment rate is 3.4% the lowest in 50 years.

Financial Markets the US stock market reached highs during Trump’s presidency but crashed during the pandemic wiping out all gains; however, the financial markets recovered to pre-pandemic levels by the time Trump left office. The markets have continued to grow under President Biden, they have reached record levels under his administration.

The indicators under President Biden are better in some areas than when Trump was in office. Covid and the trade war with China both of which occurred while Trump was in office and the policies he implanted, to this day has impacted and continue to cause this nation with high inflation. The US Economy is doing well, and continues to get better.

Marvin Dixon/Founder

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