Donald Trump will spend the much of the coming days making wild claims about the economy.
Here's what he won't tell you: the American economy has huge problems right now.
Trump made many of them worse by failing to address the pandemic or negotiate an economic aid package. 1/
Here's what he won't tell you: the American economy has huge problems right now.
Trump made many of them worse by failing to address the pandemic or negotiate an economic aid package. 1/
Seven months into the pandemic we are still seeing more new jobless claims every week than the worst week of the Great Recession.
Unemployment remains historically high. 2/
Unemployment remains historically high. 2/
https://twitter.com/NewsHour/status/1321810282688221185
Mass layoffs keep hitting the workforce. Tens of thousands of small businesses have already closed, and many more say they are on the verge of closing. 3/
time.com/5895669/pandem…
nytimes.com/2020/09/01/bus…
time.com/5895669/pandem…
nytimes.com/2020/09/01/bus…
With job losses, losses of employer-based health coverage have piled up too. Millions have lost health insurance already in the pandemic, and tens of millions more are at risk. 4/
epi.org/publication/he…
cbsnews.com/news/covid-pan…
epi.org/publication/he…
cbsnews.com/news/covid-pan…
The economic damage caused by the pandemic has been uneven across different groups of American workers, hitting people of color especially hard. forbes.com/sites/christia…
Millions of women have left the labor force entirely. 5/
npr.org/2020/10/28/928…
Millions of women have left the labor force entirely. 5/
npr.org/2020/10/28/928…
Long-term unemployment has spiked for millions of Americans. cnbc.com/2020/10/23/lon…
Over eight million have fallen into poverty in recent months. nytimes.com/2020/10/15/us/…
Many are simply running out of money. buzzfeednews.com/article/veness… 6/
Over eight million have fallen into poverty in recent months. nytimes.com/2020/10/15/us/…
Many are simply running out of money. buzzfeednews.com/article/veness… 6/
Half of the nation’s unemployed were unable to cover basic expenses in August. businessinsider.com/unemployment-b…
Nearly a third of households found it very difficult to pay their bills. 7/ bloomberg.com/news/articles/…
Nearly a third of households found it very difficult to pay their bills. 7/ bloomberg.com/news/articles/…
Growing numbers risk losing power and water. washingtonpost.com/business/2020/…
Tens of millions are at risk of eviction, threatening the country with a ‘homelessness pandemic.’ cnn.com/2020/08/07/eco…
The moratoria holding back evictions are set to expire. reuters.com/article/us-usa… 8/
Tens of millions are at risk of eviction, threatening the country with a ‘homelessness pandemic.’ cnn.com/2020/08/07/eco…
The moratoria holding back evictions are set to expire. reuters.com/article/us-usa… 8/
The country is experiencing a mental health crisis and the child care industry is falling apart. 9/
jec.senate.gov/public/_cache/…
wsj.com/articles/coron…
jec.senate.gov/public/_cache/…
wsj.com/articles/coron…
Millions of Americans are simply going hungry. 10/
nytimes.com/interactive/20…
wsj.com/articles/more-…
cbsnews.com/news/staggerin…
nytimes.com/interactive/20…
wsj.com/articles/more-…
cbsnews.com/news/staggerin…
The point of this is not "doom and gloom." We WANT the economy to do well.
But lying about economic growth isn't the answer, and using it as an excuse not to take more meaningful actions to help people – as Trump has done for much of the year – actually makes things worse. 11/11
But lying about economic growth isn't the answer, and using it as an excuse not to take more meaningful actions to help people – as Trump has done for much of the year – actually makes things worse. 11/11
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