Let’s start with employment. Mr. Biden starts off with one of the worst job markets of any modern president, correct?
The national unemployment rate is 6.7%, and there are about 10 million fewer people with jobs than at the beginning of last year.
That does sound bad.
When was the last time it was this bad? Well, it was worse than that during most of the eight years of the Obama-Biden administration. For perspective, the unemployment rate was last at 6.7% in 2014, about in the middle of the Obama-Biden administration’s second term.
What about the 10 million people? It is worth remembering that the coronavirus shutdowns killed more than 22 million jobs at the worst moment. The recovery of most of these jobs in places run by Republicans would lead rational people to conclude that some of the economy is being restrained by state and local governments run by Democrats.
From building the wall to bringing back coal: Some of Trump’s more notable broken promises
While Donald Trump’s first campaign for president was all about change, his argument for re-election was based on the premise that he had delivered on his initial promises and would continue to do so. The campaign slogan “Promises made, promises kept,” became Trump’s rallying cry.
To be sure, Trump delivered on a number of initial campaign promises. He cut regulations, lowered taxes, withdrew from the Trans Pacific Partnership, pulled the US out of the Paris Climate Agreement and appointed hundreds of conservative justices. But in many cases, the reality behind the talking points and slogans fell short of what was actually promised.
Dow drops over 300 points shortly after opening pakistantelegraph.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pakistantelegraph.com Daily Mail and Mail on Sunday newspapers.
In stark contrast to the stock market frenzy, the government reported this week that US GDP fell 3.5 percent in 2020 while new claims for jobless benefits continued at historically unprecedented levels.