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I agree, because Republican leadership has been awful during the pandemic. Thousands and thousands of deaths could have been prevented if competent leadership (other than Trump) would have shut things down much sooner and kept them closed longer.
Here we are 6 months later and still kicking out billions in unemployment and bail out relief, so the whole "it would've cost us too much to keep millions of American workers home for months" argument is out the window.
At the end of the Clinton administration, the economy was going gangbusters. The federal budget was running a surplus and we were on track to pay off the national debt.
At the end of the Bush administration the economy was in a free fall.
The Obama administration turned things around and the economy was on a steady upward trend.
Trump promised 4% - 6% GDP growth. Instead, we got a payday loan tax giveaway to the rich, a tariff war with China, and inverted yield curve that started over a year ago. Deficit was doubling before Covid even hit.
Once again, Republicans leave Democrats with a mess to clean up.
How many times are we doomed to repeat this cycle?
Does anyone actually believe the economy is still doing GREAT?!
I remember a few weeks ago, people were raving how high the DOW was, even though the country was being ravaged by Covid and then the race riots, its hard to believe how anyone could fall for that large of a deception!
No but...my wife works in finance and she is on the way to a record year. And the last 4 have been spectacular.
All my friends that own small businesses, real estate, liquor stores , landscaping, marinas , process serving, masonry, automotive repair, and specialty automotive are still doing well. They all complain that they can't find help.
We were able to sell and purchase a home in the middle of this pandemic. There were some contract work that we needed done, roofing , windows, and siding on a sunroom. It was unreal how hard it was to find contractors to do the work. For the siding I called probably 12 or 13 companies and several basically flat out told me that the job wasn't big enough. It ended up taking about three months to get it all done, because they were all so backed up with work.
So, I understand the economy is bad, and will probably get worse but people are still spending money.
At the end of the Clinton administration, the economy was going gangbusters. The federal budget was running a surplus and we were on track to pay off the national debt.
At the end of the Bush administration the economy was in a free fall.
The Obama administration turned things around and the economy was on a steady upward trend.
Trump promised 4% - 6% GDP growth. Instead, we got a payday loan tax giveaway to the rich, a tariff war with China, and inverted yield curve that started over a year ago. Deficit was doubling before Covid even hit.
Once again, Republicans leave Democrats with a mess to clean up.
How many times are we doomed to repeat this cycle?
The odd thing is ,career wise the best years I've ever had were through the Clinton and Bush Jr. years, with the exception of '08. Went from plus six figures to zero...and was unemployed for a year. Things definitely started picking up through the Obama years, and , at least for me continually climbed through this administration. I'm still quite a bit away from the '08 salary though...and will probably never see that again.
3 Months Of Hell: U.S. Economy Drops 32.9% In Worst GDP Report Ever
Gross domestic product — the broadest measure of economic activity — shrank at an annual rate of 32.9% in the second quarter as restaurants and retailers closed their doors in a desperate effort to slow the spread of the virus, which has killed more than 150,000 people in the U.S.
The economic shock in April, May and June was more than three times as sharp as the previous record — 10% in 1958 — and nearly four times the worst quarter during the Great Recession.
Hysteria? LOL. yeah. 150K (and rising) dead is hysteria.
Is the GDP plunge concerning? Absolutely! And if we had competent leadership we might only have a few thousand deaths and be on the road to recovery.
You can surely blame the leadership but have a look around you at the fools that elected this guy. Then realize that many of them are ready to elect him AGAIN. Trump is just the toadstool that emerged from the rotting carcass of the American dream. We've been on the downward slide for a long time ever since the emergence of the Tea Party and the Dittoheads.
Neither the Great Depression nor the Great Recession nor any of the more than three dozen economic slumps over the past two centuries have ever caused such a sharp drain over so short a period of time.
By comparison, the worst quarter during the financial crisis of 2008 was the 8.4% GDP drop in the fourth quarter of that year. The previous low-water mark was a 10% slide in the first quarter of 1958, while the worst in recorded history came in Q2 of 1921.
Meanwhile, Trump diverts attention away from the disaster he created with a lame "delay the election" tweet. And from the looks of it, the diversion has worked. Look at all the runaway threads this morning about that subject, while the collapse of the economy is largely ignored.
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3 Months Of Hell: U.S. Economy Drops 32.9% In Worst GDP Report Ever
