We had just been through one of the sharpest economic slumps in U.S. history, largely due to the pandemic lockdowns. But by the fall of 2020, the. After plunging in the second quarter of 2020, growth rebounded far better than almost anyone had predicted, with the economy expanding at an annual rate of 33.4 percent.
This created a dilemma for Biden and Harris when they arrived in the White House. Allowing the economy to continue towould have amounted to an admission that they had deceived the public about the state of the economy. What’s more, the Democrat leadership had constituencies and agendas to pursue, and the crisis appeared to provide an historic opportunity for a huge expansion of government.almost as soon as they set foot in the Oval Office.
The problem for Harris is that this is much less plausible in 2024 than it was four years ago. For one thing,. Inflation rising to the highest level in four decades and then persisting at elevated levels for years will be the hallmark of the administration. But we can add to that the striking failure of the Biden-Harris version of industrial policy to achieve any visible success.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Breitbart Business Digest: Kamala Harris Runs a Campaign Based on Partisan Hope and DeceitSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: Everyone Agrees the Fed Cut Was a Gift to Kamala HarrisSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: Democrat Senators Demand Super-Sized Rate CutSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: The Fed’s Secret Tightening of Monetary PolicySource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: The Fed Does Not Need to Rush to Cut RatesSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Breitbart Business Digest: Inflation Leaves the Middle Class Too Poor to Shop at Dollar StoresSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »