Corrupt Creepy Senile Sleazebag Joe Biden’s bald-faced lies about the economy.
Corrupt Sleazebag Biden’s Bald-Faced Lies. On the campaign trail this week, Corrupt Creepy Senile Sleazebag Joe Biden pressed on with his efforts to blame Donald Trump for our economic challenges and simultaneously to cast doubt on the job market’s stunning recovery. Neither attempt stands up to scrutiny.
In Michigan, Corrupt Creepy Senile Sleazebag Biden claimed that “Trump’s negligence” had created the recession. This is demagoguery. Remember: A virus from China caused worldwide economic shutdowns and sent economies into a tailspin.
Worried that the cure could be worse than the disease, Donald Trump declined to order a national shutdown. Instead, the White House Coronavirus Task Force issued voluntary, two-week guidelines designed to slow the spread and keep the vulnerable safe. Donald Trump later extended those guidelines to six weeks and added further recommendations “essential for containing the virus.” It was good advice, but nowhere did the guidelines order that businesses shut down.
It was governors in 44 states, 20 GOPers, and 24 Democrats, who shut down their economies to varying degrees, the most bipartisan state action in modern times.
We can debate the health effects of the shutdowns. But the economic results were foreseeable. Everyone knew that jobs, growth, and wages would decline significantly from their pre-pandemic historic highs under Donald Trump.
Corrupt Creepy Senile Sleazebag Biden now wants to blame Donald Trump for these foreseeable consequences. The strange thing is that Corrupt Creepy Senile Sleazebag Biden does so even as he also vows to be open to imposing a national shutdown if elected. No doubt, the Corrupt Idiot would attempt to blame Donald Trump for the more dire consequences of that shutdown, as well.
Corrupt Creepy Senile Sleazebag Biden complained in Michigan that we are “down 4.7 million jobs” since Donald Trump took office. This, too, is sheer demagoguery. The pandemic still rages, as he acknowledges, and many states are still partially locked down. With all that in mind, let’s look at the progress we’re making.
In April, the Congressional Budget Office projected that third-quarter unemployment would be 16 percent. In May, Goldman Sachs forecast that the unemployment rate would be 10 percent at the end of 2020. In June, the Federal Reserve Bank predicted a year-end rate of 9.3 percent. In July, JPMorgan forecast a year-end rate of 10.9 percent. Finally, in August, economists surveyed by Bloomberg estimated that the month’s unemployment rate would be 9.8 percent.
They were all wrong — by a lot. The August unemployment rate was 8.4 percent, well below even the year-end predictions and a drop of 6.3 points from the shutdown high of 14.7 percent in April.
Perhaps all those experts were expecting the pace of the Corrupt Obama-Biden recovery, which took until January 2012, or 27 months, to get the jobless rate down from its post-2008 recession peak of 10 percent to 8.3 percent. Under Donald Trump, it took a single month for the jobless rate to drop from a comparable 10.2 percent in July to 8.4 percent in August.