How’s the Economy, Mr. President?

Jobs

The weaker than expected September jobs report confirms that Trump’s continued mismanagement of the COVID-19 pandemic has cost millions of jobs since March. Even with previously laid-off employees regaining their jobs or finding new employment, the U.S. is still 10 million jobs in the hole compared to pre-pandemic employment levels.

Source: New York Times; Bureau of Labor Statistics

GDP

Leaving aside the fact that President Trump never lived up to his promise of GDP growth of up to 6%, his chronic mismanagement of the COVID-19 pandemic has effectively erased any gains he could previously lay claim to. In fact, Trump is in last place amongst 11 previous presidents in GDP growth — the only to end his first term in the red.

American Manufacturing

American manufacturing has long been a point of pride for the president, even though his own company and campaign make most their merchandise in China. As recently as the first 2020 Presidential Debate, President Trump falsely claimed to have “brought back” hundreds of thousands of manufacturing jobs. But the manufacturing economy remains stuck deep in the hole that President Trump dug due to his haphazard trade war with China. Today, there are around 640,000 fewer manufacturing jobs than there were in February of this year.

Farm Debt

It is no secret that farmers voted for Trump in droves in 2016, but the president has been anything but a friend to America’s agricultural economy. After demolishing the farm economy with his reckless trade wars, President Trump has failed to create long-term solutions and has instead necessitated farms to take on hundreds of billions in farm debt while forcing the agriculture industry to rely on government aid.

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