close
close

Pasteleria-edelweiss

Real-time news, timeless knowledge

Economic growth remains strong through summer, boosting Harris
bigrus

Economic growth remains strong through summer, boosting Harris

At Donald Trump’s mock press conference at Mar-a-Lago, where he did not answer any questions, the former president took some time to argue that the economy should not be considered the nation’s top issue in the 2024 presidential election.

“I know we talk about inflation and the economy, but to me there is nothing more important than the destruction of the fabric of our country.” Republican saidreferring to their perception of illegal immigration. “I think what’s going on at the border is the biggest problem, and I see that more and more when I speak.”

So why would the GOP candidate downplay the importance of the economy? Because there’s been a lot of news about the United States economy lately, and it’s all been pretty good. The New York Times reported:

Consumers are spending. Inflation is cooling down. And the US economy looks as strong as ever. Gross domestic product, adjusted for inflation, rose at an annual rate of 2.8 percent in the third quarter, the Commerce Department said Wednesday. That approached the 3 percent growth rate in the second quarter and was the latest indication that the surprisingly resilient recovery from the pandemic recession remains on solid footing.

The article quotes Joe Brusuelas, chief economist at accounting and consulting firm RSM, as saying that the American economy is currently “firing on almost all cylinders.”

This is not an unusual assessment. The combination of healthy growth, low unemployment, falling inflation, record rallies on Wall Street, and low gas prices has led many observers to marvel at the health and resilience of the American economy.

In fact, earlier this month the New York Times reported USA job market He described the United States as “as healthy as ever” in its history and recent economic growth as “robust.”

A few days later, Heather Long of The Washington Post explained: in a column “In almost every respect, the US economy is in good shape. Growth is strong. Unemployment is low. Inflation: stand back. More importantly, many Americans big salary increasesand middle class wealth It increased To save levels. “We are experiencing one of the best economic years in many people’s lives.”

same day, Politico’s statement We see the status quo as a “dream economy”.

Meanwhile, the International Monetary Fund last week was amazed at this level of the US economy “ahead of the world’s developed economies.” The Economist, one of the leading British publications, also recently announced He stated that the US economy is “the envy of the world” and added that the American economy “leaves other rich countries in the dust”.

Around this time four years ago, Trump he told his supporters That democratic policies would “lead to an economic disaster of epic proportions” and force the country into “depression.”

Mistake! No wonder he prefers to talk about immigration.

Of course, the real question is not just about the status quo, but also about the future. The US economy is strong now, but what about the future?

Apparently, 23 Nobel Prize-winning economists Endorses Vice President Kamala Harris In a joint letter published last week, Trump declared that the Republicans’ agenda “will lead to higher prices, larger deficits, and greater inequality.”

“Simply put, Harris’ policies will result in stronger economic performance with more robust, more sustainable and more equitable economic growth,” the letter added.

Nobel laureates are not alone. Wall StreetJournal also asked recently He asked economists a question on the issue and found that most economists think Trump’s agenda will have higher inflation, interest rates and deficits than Harris’ agenda.

“Look, you may not like Donald Trump personally, but you’re going to like his policies a lot more than Kamala Harris’ policies,” Georgia Governor Brian Kemp said. It was said recently. The Republican added that voters were simply “making a business decision.”

Considering everything we know nowThose focused on economics and business decisions should rally behind Harris as quickly as possible and hope desperately for Trump to lose. Indeed, Catherine Rampell of the Washington Post explained: its last corner that Republicans are the “wrong choice” for Americans who are primarily concerned with their wallets.

This post updates our relevant previous coverage.