- The economy lost 2.7 million jobs. The unemployment rate increased by 1.7 percentage points to 6.4%.
- Paychecks grew faster than inflation. Average weekly earnings for all workers were up 8.4% after inflation.
- After-tax corporate profits went up, and the stock market set new records. The S&P 500 index rose 67.8%.
- The international trade deficit Trump promised to reduce went up. The U.S. trade deficit in goods and services in 2020 was the highest since 2008 and increased 36.3% from 2016.
- The number of people lacking health insurance rose by 3 million.
- The federal debt held by the public went up, from $14.4 trillion to $21.6 trillion.
- Home prices rose 27.5%
- Illegal immigration increased. Apprehensions at the Southwest border rose 14.7% in 2020 compared with 2016.
Inflation was a direct result of trump allowing the supply chains to break and then giving out big welfare on his way out the door. Learn some economics.
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You're looking through DERP blinders. He's a train wreck . Look at him talking big about tariffs then backing down like the wuss he is.
The economy is influenced by many factors, including global events, market cycles, and policy decisions from both current and previous administrations. While presidents can shape economic policy, they don’t have absolute control over economic outcomes.
If Trump were to return to office, his policies—such as tax cuts, deregulation, and trade strategies—would likely differ from Biden’s, potentially shifting economic priorities. Whether that leads to "ruin" or growth depends on execution, external conditions, and differing perspectives on economic success. Just like under Obama, Biden, and Trump’s first term, economic ups and downs will continue, regardless of who is in office.
