Unprecedented

Share this post
Worst Year Ever
thedailyedge.substack.com

Worst Year Ever

In 2020, year over year G.D.P. plunged 3.5%, the worst on record

Richard Hine
Jan 28, 2021
7
Share this post
Worst Year Ever
thedailyedge.substack.com
Twitter avatar for @richardhineRichard Hine @richardhine
NYT: Trump leaves the US economy "in a significant hole.... Comparing 2020’s output over all with the previous year’s, G.D.P. fell 3.5 percent, the worst on record."
U.S. Economy Grew 1 Percent in the Last Quarter: Live UpdatesThe Senate Committee on Banking, Housing and Urban Affairs will consider Cecilia Rouse, President Biden’s nominee to chair the Council of Economic Advisers.nytimes.com

January 28th 2021

23 Retweets28 Likes

As the New York Times reports today, the Trump economy collapsed like a house of cards in 2020. Year over year G.D.P. plunged 3.5%, “the worst on record.” We lost millions of jobs. It took trillions of taxpayer dollars in federal aid to avert a total and utter meltdown—and despite that, the US economy remains “in a significant hole.”

Throughout his Presidency, Trump’s “greatest economy ever” bullshit was, of course, one of the biggest cons he ever pulled. And for most of his Presidency the gullible media played along. Trump promised his tax cuts for the rich (aka the #GOPTaxScam) would “skyrocket” the economy to growth of 5% or even 6%. He never got close, creating fewer jobs in his first three years than Obama created in his final three, even as the debt (which he had promised to eliminate) soared by $8 trillion in a single term.

Twitter avatar for @NationalDebtNational Debt Tweets @NationalDebt
$27,781,746,808,072.29 (+) #NationalDebt

January 27th 2021

94 Retweets142 Likes

The Trump Recession, of course, officially began in February 2020, before the pandemic lockdowns began. It was preceded by a year-long US manufacturing recession in 2019 and a surge in farm bankruptcies, both of which were directly caused by Trump’s failed trade war with China.

As 2020 began, Trump was so desperate for an election-year trade deal with China that he pretended the coronavirus wasn’t a thing until he got his dumb “partial” deal signed. Then, thanks to his recklessness and incompetence in handling the pandemic, the deal became meaningless anyway.

After four disastrous years, one-term loser and failed insurrectionist Trump became “the only modern president to leave office with fewer U.S. jobs than when his term began.”

He made the nation poorer, sicker and weaker.

The death, devastation and despair he caused in America’s worst year ever have cemented his status as the worst president ever.


Thanks for reading and sharing! While paid subscriptions are always welcome, I’ll be making all content free in 2021, so choosing a “free” subscription means you will never miss an issue of UNPRECEDENTED.

One-time “appreciation donations” are also possible via Buy Me a Coffee.

Share this post
Worst Year Ever
thedailyedge.substack.com
Comments

Create your profile

0 subscriptions will be displayed on your profile (edit)

Skip for now

Only paid subscribers can comment on this post

Already a paid subscriber? Sign in

Check your email

For your security, we need to re-authenticate you.

Click the link we sent to , or click here to sign in.

TopNewCommunity

No posts

Ready for more?

© 2022 TLD Media, LLC
Privacy ∙ Terms ∙ Collection notice
Publish on Substack Get the app
Substack is the home for great writing