Donald Trump inherited a strong economy from President Barack Obama.
His 2017 tax cuts and trade war with China negatively impacted Americans. He also chose not to use federal resources to contain the coronavirus, leading to a severe economic downturn, which left President Joe Biden with an economy with fewer jobs, slower GDP growth, and higher unemployment rates.

Trump failure to stop the Coronavirus led a loss of over 22 million jobs in the spring of 2020. The loosening of the public health measure brought back half of those jobs, but there was still a net loss of 10 million jobs between Feb 2020 and January 2021. Trump refused to mount a serious federal effort against the virus, which resulted in 3 million lost jobs at the time of his leaving office.

Throughout the Trump presidency, the US economy experienced a 3.5% contraction, surpassing the extent of the Great Recession of 2008. This decline represented the most significant economic setback since 1946. Additionally, the real GDP growth averaged just 1% during Donald Trump’s administration, signifying the slowest growth rate since World War II.

During President Trump’s term in office, the unemployment rate initially stood at 4.7% but rose to 6.3% by the end of his presidency. However, it’s worth noting that 5 million Americans stopped seeking employment during this time and exited the labor force. If the classification of these workers, along with others, had been different from what it actually was after 2020, the unemployment rate during Trump’s presidency could have been almost 3.5% higher, reaching an estimated 9.7%.

Throughout the Trump presidency, there were over 700,000 weekly unemployment claims for 47 consecutive weeks. This number is almost four times higher than the claims filed during the Great Recession.

Donald Trump’s new economic plan consists of more tariffs and tax cuts for the rich. Which would lead to increased hardship for all Americans and uncontrollable hyperinflation. Do we really want more tariffs and hyperinflation?