Friday, December 18, 2020

Trump will leave office with a historically bad economic record

 "Trump's economic record ranks near or at the bottom compared with other presidents," concludes Moody's chief economist Mark Zandi, who compared the economic results of all presidents from the last 70 years. "The economy under his watch has performed very poorly."

To be sure, the deadliest public health pandemic in a century has devastated economic activity during this last year of the President's term. But responding to unexpected catastrophe -- from hurricanes to terrorist attacks to civil unrest to financial crises -- represents a big part of the job. And, as Zandi notes, Trump's bungled coronavirus response has exacerbated and extended damage to jobs and output.

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