At Fridays rally in New Hampshire, President Donald Trump defended his record on jobs and growth, vowing to adopt policies that would see the post-pandemic rebound soar to new heights, while claiming that Democrat policies of high taxes and higher regulations would “kill” the economy.
Speaking before an audience of supporters in Londonderry, Trump began by saying that the outbreak of the Chinese Communist Party (CCP) virus, which he referred to as “the plague,” has been a major disruptive force, driving uncertainty in the political landscape and making his electoral prospects less assured.
“If you go back six months before the plague from China, the horrible plague, this election was over,” Trump said, implicitly referring to his standing in the polls amid a roaring economy that took a devastating hit from the pandemic. Lockdowns and business shutdowns decimated the labor market, with 20.5 million jobs lost and the unemployment rate surging to 14.7 percent in April, both post-World War II records.
“We built the single greatest economy in the history of the world,” Trump said. Prior to the pandemic, Americas record-long economic expansion saw unemployment at a historic low of 3.5 percent.
“And then the plague came in from China and we had to close it up,” Trump said. “We saved millions of lives and now were opening it and were setting records.”
After plummeting in the wake of the outbreak, U.S. stock markets have mustered a V-shaped recovery, with the S&P 500 and the Nasdaq trading at new all time highs. And while the plunging real economy set records on the way down, so has its surging rebound in a number of measures, like retail sales, which in July soared to a new record high.
“Were setting records,” Trump said, adding, “Wait till you see the numbers just before the election.”
Economists widely expect a sharp rebound in gross domestic product in the third quarter, led by consumer spending, although many are cutting their forecasts for the fourth quarter amid lingering virus uncertainty.
Speaking to his supporters in New Hampshire, Trump said the economy would mount a strong recovery “despite the fact that the Democrats are holding back Michigan, North Carolina, you take a look, Pennsylvania,” adding that he believes Democrat-led regions are keeping their economies closed as a strategy calculated to help him lose the election.
“On November 4, regardless, they will be opening them up. November 4. Because they think that hurts the economy and thatll hurt me. But our numbers are going to be great third quarter. Were going to have an unbelievable next year,” Trump said.
Calling the November election “truly the most important election in the history of our country,” Trump laid into Democrat presidential nominee Joe Biden, calling him a “puppet of the radical left movement that seeks to obliterate and destroy everything that you hold dear, including your 2nd Amendment, which will have no chance.”
Saying that Democrat policies would be a setback to the econoRead More From Source
