Low unemployment and a soaring stock market were Trump’s calling cards before the pandemic.
While the stock market has clawed its way back after cratering in the early weeks of the crisis, unemployment stands at 7.9 percent.
The nearly 10 million jobs that remain lost since the pandemic began exceed the number that the nation shed during the entire 2008-2009 Great Recession.
President Donald Trump has predicted that the US economy will rebound in the third and fourth quarters of this year and is set to take off like a “rocket ship” in 2021.
He promises that a coronavirus vaccine or effective therapeutics will soon be available, allowing life to get back to normal.
His push for a payroll tax cut over the summer was thwarted by stiff bipartisan opposition. But winning a second term — and a mandate from voters — could help him resurrect the idea.
First and foremost, Joe Biden argues that the economy cannot fully recover until Covid-19 is contained.
For the long-term recovery, he pitches sweeping federal action to avoid an extended recession and to address longstanding wealth inequality that disproportionately affects nonwhite Americans.
His biggest-ticket plans include a $2 trillion, four-year push to eliminate carbon pollution in the US energy grid by 2035 and a new government health insurance plan open to all working-age Americans (with generous subsidies).