4-22-2021
Trump’s 'depression' predictions flopped —
and now the GOP is scrambling to find an economic message.
President Donald Trump's dire predictions that
"you will have a depression the likes of which you've never seen" if Joe Biden is elected, but the economy is soaring —
and Republicans are struggling to adapt their economic message to the new reality.
"The rebounding economy is headed for its best year since 1984, according to the International Monetary Fund.
The U.S. economy likely expanded in the first quarter at an annual rate of 6 percent and should accelerate in the months ahead, economist Ian Shepherdson of Pantheon Macroeconomics told clients this week.
More than 1.3 million jobs have been added since the election," wrote Lynch. "By Trump's preferred metric — the stock market — Biden is outperforming his predecessor at this stage of his presidency.
Last summer, the Republican said stock values would 'collapse' under Biden. But through Thursday, the Dow Jones industrial average was up nearly 16 percent since Nov. 7, when the Democrat was declared the apparent election winner, compared with a 10.5 percent gain over a similar period following Trump's election."
The result is that Republicans are scrambling to come up with a new message to counter Biden's popularity.
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