Tuesday, July 20, 2021

COVID Recession Shortest in History; Recovery Began Under Trump

                               Republican Presidential candidate Donald Trump models a hard hat in support of the miners during his rally at the Charleston Civic Center on May 5, 2016 in Charleston, West Virginia.

One thing the NBER announcement does make clear is the fallaciousness of the widespread claims last year that Trump's alleged mismanagement of the pandemic response had hurt the U.S. economy. This was a constant refrain from the Biden campaign and the establishment media. Part of the explanation for the speedy recovery, entirely ignored by the establishment media's narrative, was that we created the recession by design by ordering businesses to shut their doors and people to stay home. And the other part was that the economy was doing so well going into the pandemic that it was able to snap back with incredible speed once the shackles of the initial lockdown were lifted. (From Breitbart Business Digest)

The National Bureau of Economic Research (NBER) declared Monday that the coronavirus recession lasted only two months — the shortest on record — and that the economic recovery began in May 2020 under President Donald Trump.

The recession began at the economy’s peak in February 2020, and was over by April 2020, according to the NBER — just as Trump was signing relief, such as the Payment Protection Program (PPP), into law, overcoming Democratic delays.

The NBER’s report states:

More @ Breitbart

No comments:

Post a Comment