We will benchmark the Biden economy and compare it to the Trump economy.
Watch Trump reverse Biden's dumpster-fire economy, and then watch Dems try to take credit for the success
When Trump brings the economy back from the brink, Biden and his Democrat allies will deserve no credit6 Dec 2024 ~~ Andy PuzderWatch Trump reverse Biden's dumpster-fire economy, and then watch Dems try to take credit for the success
Trump will free America’s economy from Biden’s regulatory nightmare to encourage economic growth and domestic energy production, meaningfully reducing government overreach and lowering energy costs.www.foxnews.com
Democrats have no equals when it comes to taking undeserved credit and evading well-deserved blame. Consider a recent Time article titled "Don’t Give Trump Credit for the success of the Biden Economy." Of course, no one, including President-elect Trump, wants credit for Biden’s dumpster fire economy. That debacle just cost the Democrats an election.
So, what is Time’s piece all about? Well, it is part of an effort to position Democrats to take credit for what even they see as Trump’s coming economic turnaround.
It’s not the first time Democrats have tried to take credit for Trump’s economic success.
~Snip~
In three years, America’s economy went from stagnating to thriving precisely because Trump reversed virtually every one of Obama’s stifling big government policies and adopted energizing free market policies. Obama nonetheless attempted to claim credit for that success.
NBC News, among other legacy media sources, predictably ran a piece supporting this notion claiming that "Trump didn’t build a great economy he inherited it."
So, here we go again.
~Snip~
As a result, four years later, Biden is handing over an economy encumbered by an astounding record high debt of over $36 trillion and a record high annual deficit of $1.8 trillion. And the damage isn’t done. Recently, in just over the last 100 days, the federal debt soared an additional $1 trillion.
There are consequences for that kind of fiscal irresponsibility and both working- and middle-class Americans are suffering those consequences.
~Snip~
Obviously, we don’t have a revenue problem, we have a spending problem. We need to meaningfully reduce spending while we simultaneously increase tax revenue through economic growth.
To accomplish those goals, Trump will undo Biden’s economic policies as he did Obama’s.
To continue increasing tax revenue, Trump will keep the current low rates in place and selectively reduce rates to further encourage economic growth. This worked for Presidents Kennedy, Reagan and Trump (in his first term). It’s the plan for his second term, and it will work – again.
Commentary:
It's obvious that even before Trump has taken his oath of office once again that the economy is responding positively.
Buden's "Bidenomics" has resulted in inflation and massive spending that cannot be tolerated.
There's no doubt that Neo-Marxist Democrats will claim Trump inherited their peace dividend too. One would have to ask what Peace?
The only commonality for the Neo- Marxists is "Hatred". Hatred for Christians, hatred for America, hatred for Jews, hatred for Israel. hatred for MAGA's and especially hatred for DJT.
Below are current figures on the economy. We will compare these measures in 1 year.
4.2% unemployment
GDP -30.8 trillion
GDP growth 2.8
Inflation 2.8%
Exports Oct 265.7 trillion
Imports Oct 339.7 trillion
Consumer spending + .5% growth
Wealth distribution - possibly the most importny measure. we need to close the gap between the rich and poor
In the second quarter of 2024, the top 10% of households owned 67% of the total household wealth, while the bottom 50% owned 2.5%. The top 10% had an average of $6.9 million in wealth, while the bottom 50% had an average of $51,000.