Last updated on February 1st, 2021 at 02:43 pm
Trump’s botched handling of the coronavirus pandemic led the US economy to shrink the most that it has since 1946.
“The US economy grew at an annualized and seasonally adjusted rate of 4% in the fourth quarter of 2020, just as economists had predicted, the Commerce Department reported Thursday. But that didn’t make up for a bad first quarter and an historically awful second quarter. For 2020 as a whole, GDP decreased by 3.5% from the prior year. That was the worst decline since 1946.”
The problems within the economy are numerous. Millions upon millions of people remain unemployed. Consumer spending is falling, and savings are up. People aren’t spending and are leaving their money in the bank because of uncertainty.
The good news is that Democrats aren’t messing around, and will pass a COVID relief bill that will help the American people get through this unprecedented time. The even better news is that the economy is primed to take off once most of the nation is vaccinated and the pandemic is behind us.
No other nation is struggling as mightily as the United States, because Donald Trump created this mess. If the pandemic would have been responded to properly, the nation would be in a better position to recover and grow.
Add creating the biggest economic shrinkage since 1946 to the list of reasons why Trump should never be allowed near a federal office again.
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