Lustylad doesn't seem to realize that big spending and monetary stimulus is what caused the economy to bounce back somewhat. His kind talks about 35% growth, like Trump is a Magician. 35% off of a 50%+ crash. We are still way below the economy from just 7 months ago.
and we will stay there if Trump is re-elected. Because Trump's economy now, is serving his rich friends. The wealth gap is at an all-time high.
You have not got your job back? Fuck you. No stimulus. You lost heathcare coverage? Fuck you. You can't pay rent? Fuck you. Fuck you. and fuck you.
Originally Posted by Chung Tran
I strongly disagree. We've discussed this in another thread. Looking at the top 10 economies in the world, only China has done better than the USA in terms of year-on-year GDP "growth" for the 2nd quarter. All other countries' GDP's declined more than the USA's.
And median household income during 2019, before Covid, increased more than during the entirety of Obama's eight year term. Until Covid knocked us and everybody else on our asses, the middle class and poor significantly increased their share of income relative to upper income earners, something that hasn't happened in a long time. And I believe you can attribute this largely to tax cuts on corporations and pass through businesses as well as lightening up on regulation. This lead to a vibrant job market, rock bottom unemployment rates, and higher wages.
China's back growing again, and it didn't throw nearly the money at their economy that we did. I don't believe shoveling $3 trillion more at the problem is going to solve it. What it does do is make people more dependent on government, which is the Democratic Party's modus operandi. Keep people on the dole and you think you'll get their votes.
Put another way, there are some Democratic politicians who want to put the country on strict lockdown for a long time because it gives them the opportunity to pay a lot of money to people who won't be able to work. They think that will get them brownie points.
In terms of public health, the USA has done a piss poor job of responding to Covid. But there's no evidence to indicate we've done more poorly in economic terms than other large countries, except China.
As to what's going to happen if Trump is re-elected, it's irrelevant. That's unlikely to happen.