The economy is always a topic of debate during the election cycle. During this election cycle, Trump is trying to compare the economy during his Administration to the economy during the current Biden Administration, of which VP Kamala Harris is a part. However, no comparison of the economy under each Administration is complete unless the effect of the Covid-19 Pandemic is included.
I located and read 5 articles that compared the economies under the Biden and Trump Administrations. Each of the 5 articles indicated that economy has finally recovered from the Covid-19 pandemic and the subsequent 9.1% inflation rate from 2022. However, 60% of polled individuals believe that the economy was better under Trump. Charts within each of the articles shows that the economy has not only recovered, but it has also improved in some cases.
As of June 2024, the Gross Domestic Product has now returned to pre-pandemic levels; inflation has dropped significantly from 2022 levels; employment is higher under Biden Administration than during both the Obama and Trump Administrations; the unemployment rate approximates that of the Trump Administration pre-Covid-19; wages rose under Trump at a rate similar to the Obama Administration; average weekly wages during the pandemic increased for people who were still working; and, the stock market under Biden has been better than under Trump.
In the articles section of this site, I have provided and analyzed each of the 5 articles. The button attached to this blog post connects to the articles.
Add comment
Comments