Data released Wednesday on gross domestic product for the third quarter, the last before the election, paint a picture of a remarkable success.
By Paul Krugman
Polls suggest that as we approach Election Day, the Republicans' advantage on the economy is substantially smaller than it was a few months ago. But if you look at the numbers, what's striking is that the advantage isn't going the other way.
Data released Wednesday on gross domestic product for the third quarter, the last before the election, paint a picture of remarkable economic success. One way to see how astonishing that success has been (The Economist calls it “glorious”) is to compare where we are now with the Congressional Budget Office projections released in January 2020, before Covid struck. There were widespread warnings that the pandemic would cause “scarring” – that is, lasting damage; instead, we have substantially exceeded those projections:
At the same time, Inflation seems to have been overcome: The Federal Reserve's preferred measure of core inflation is near its 2 percent target. What looked like a surge in inflation earlier this year was likely nothing more than a statistical blip.
In the current political landscape, Republicans will continue to denounce Biden and Harris's economic policies as a failure. But if this is a failure, what would success look like? Claims that we have a bad economy are about as credible as claims that armed immigrants have taken over Times Square.
The New York Times
Source: INFOBAE
I think that these figures about the US economy are not trustworthy because they are made to favor the current US government, which has been a failure, having driven inflation to almost 20%. Now the poor are poorer because their purchasing power has been reduced to 80% due to the failure of the Democratic Party government; I was wrong, I meant to say Democrat. I don't believe the Democrats even that two plus two equals four. And even less so when what they want is to impose a radical socialist dictatorship in the US.
Trumpist… croakk, croakk, croakk…fake news, Haitians eat dogs, the elections were stolen from them…