Fox news anchor Laura Ingraham warns of “economic disaster” among Biden.

0

Fox News presenter Laura Ingraham claimed that a Joe Biden administration would cause “economic calamity” as Trump campaign numbers celebrated record economic growth in the third quarter of this year.

The conservative commentator also claimed that the economy would suffer a similar fate to that of Europe, which had been damaged by further lockdown measures.

Recent figures show that the US economy is now 3.5 percent smaller than before the pandemic, while the European economy is 4.3 percent smaller.

The Quote

“Prepare yourself under President Biden for the economic catastrophe that is unfolding in Europe. You can flee, but you cannot hide from the virus. The President understands that a free nation of our size cannot play with people’s livelihoods in this way.

Ingraham later added: “The left here and abroad is using the tragedy of this pandemic to leave decision-making to unelected health professionals who have no accountability to you.

“And no matter how wrong they have been about model after model, they want us to have no choice in this matter whenever they decide to curb freedom.

Why it matters

U.S. gross domestic product rose by a record 33 percent on an annualized basis in the third quarter of this year, according to the Bureau of Economic Analysis. The European economies grew by 12.7% in the same period.

This means that they partially recovered from the losses of the first six months of 2020, after the US economy slumped by a record 31.4 percent in the second quarter.

Overall, the US economy thus remains 3.5% smaller than before the pandemic and the European economies 4.3% smaller than before the pandemic.

President Donald Trump was quick to accuse the latest economic data when his team called on voters to support him in order to continue the recovery.

“GDP figure just released. The biggest and best in our country’s history, and not even close. Next year will be FANTASTIC!!!” Trump tweets. “But sleepy Joe Biden and his proposal for a record-breaking tax increase would ruin everything. I’m so glad that this great GDP figure was released before November 3.”

Republican party leader Ronna McDaniel also advised voters to vote for Trump on November 3 to “keep this recovery going” after learning of the record economic growth.

Counterpoint

The Biden campaign has tried to give cold water to the idea that trump cards based on GDP and the performance of major stock market indices are good for the economy, and its focus has instead been on household income and unemployment.

Responding to the BEA report, Biden said in a statement on Thursday: “Even with today’s report, GDP remains $6,000 per household below pre-crisis levels, wages have fallen by nearly 11 million workers, and 23 million people are filing for unemployment – including 750,000 new applications last week. Today’s report is not a victory for these families.

Goldman Sachs analysts also predicted that a Biden presidency in late September would have no negative impact on the economy, and predicted a 4 percent increase by 2024.

Share.

Leave A Reply