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Topic: U.S. economy

Economics of President Joe Biden’s American Rescue Plan

 

By Council of Economic Advisers Members Jared Bernstein and Heather Boushey

The White HouseWashington, D.C. – The greatest threat to the United States economy continues to be containing the spread of COVID-19 Coronavirus.

President Joe Biden’s top economic priority is to get to the other side of this crisis by ramping up the production and distribution of the vaccine, supporting businesses, and households that need it most, and launching an inclusive, equitable recovery.

United States President Joe Biden.

United States President Joe Biden.

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President Joe Biden’s New Executive Actions Deliver Economic Relief for American Families, Businesses Amid the COVID-19 Crises

 

The White HouseWashington, D.C. – The COVID-19 Coronavirus pandemic has forced the United States economy into an economic crisis. Across the country, more than 10 million Americans are unemployed, 14 million renters are behind on payments, and 29 million adults – and at least 8 million children – are struggling with food insecurity.

Because of pervasive systemic racism and inequality in our economy, the burdens of this economic crisis are hitting communities of color and other underserved families hardest.

United States President Joe Biden.

United States President Joe Biden.

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Economic comeback under President Donald Trump breaks 70-year record

 

The White HouseWashington, D.C. – News broke this morning that real GDP grew at an annualized rate of 33.1% in the third quarter of 2020—beating expectations and setting an all-time record.
 
This jump in GDP is nearly double the previous record set 70 years ago.
 
Thanks to President Donald Trump’s policies, the American economy is weathering the global pandemic better than any other major Western country, including those of Europe.

President Donald Trump departs Goodyear, Arizona. (White House)

President Donald Trump departs Goodyear, Arizona. (White House)

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President Donald Trump takes questions on the Economic Recovery

 

The White HouseWashington, D.C. – During President Donald Trump’s first three years in office, incomes for the average American family grew by $6,000–more than five times the gains seen during the entire Obama Administration.
 
Then 9 months ago, the COVID-19 Coronavirus plague spread across the world. Despite gloomy predictions that the U.S. economy would see double-digit unemployment far into the future, America has witnessed its fastest recovery in history under President Trump.

Marine One carrying President Donald J. Trump lifts off from the South Lawn. (White House)

Marine One carrying President Donald J. Trump lifts off from the South Lawn. (White House)

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Fastest Recovery in History

 

The White HouseWashington, D.C. – 11.4 million. That’s how many new jobs the U.S. economy has added since May—when experts were still predicting that the unemployment rate would hit 20 percent and that American job losses would continue to mount for months to come.
 
Instead, President Donald Trump has led what is on track to be the fastest economic recovery in U.S. history, the Council of Economic Advisers says. During the last five months, more than half of all job losses from the pandemic have already been recovered.

The White House - West Wing. (Official White House Photo) «Read the rest of this article»

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Vice President Mike Pence remarks during a Chamber Roundtable to Discuss Economic Reopening

 

The White HouseMalvern, PA – VICE PRESIDENT MIKE PENCE: Well, Gene, thank you. And I want to thank the Pennsylvania Chamber of Business and Industry for bringing together so many great business leaders.

It’s wonderful to be back in Pennsylvania at a time when we are opening up America again and opening up America’s schools very soon. So, thank you all for coming. I’m looking forward to hearing your reports on the progress you’re making.

United States Vice President Mike Pence. (D. Myles Cullen)

United States Vice President Mike Pence. (D. Myles Cullen)

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U.S. Economy Added 4.8 Million Jobs in June

 

The White HouseWashington, D.C. – “The economy has added around 7.3 million jobs in the past two months. The increase in the ranks of employed workers shows that companies ramped up hiring as the economy reopened and consumers came back to stores, restaurants, and other businesses that had been shuttered,” John Carney writes for Breitbart.
 
“The Donald Trump administration’s aid programs appear to be working.”

The White House - West Wing. (Official White House Photo) «Read the rest of this article»

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Why are U.S. Taxpayers Funding a ‘Voice of the Mullahs’ in Iran?

 

The White HouseWashington, D.C. – “As the U.S. special representative for Iran, I receive complaints regularly about Voice of America’s Persian service. Iranian viewers say its American taxpayer-funded programming often sounds more like the ‘Voice of the mullahs’ than the ‘Voice of America,’” U.S. Special Representative for Iran Brian Hook writes in the New York Post.
 
“This is a priority for the Donald Trump administration, because supporting the Iranian people includes giving them access to independent and truthful reporting.”

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Top 10 moments from President Donald Trump’s Virtual Town Hall

 

The White HouseWashington, D.C. – With the Lincoln Memorial as a backdrop, President Donald Trump took questions from Americans for 2 hours last night as part of a Fox News Virtual Town Hall.
 
“We never had a more beautiful set than this,” the President said.
 
Together, Americans are beating this COVID-19 Coronavirus. After months of slowing the spread of disease, our country is prepared for the next stage in this fight.

President Donald Trump participates in a FOX News Channel virtual town hall live from the Lincoln Memorial. (White House)

President Donald Trump participates in a FOX News Channel virtual town hall live from the Lincoln Memorial. (White House)

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In-Depth Look at COVID-19’s Early Effects on Consumer Spending, GDP

 

The White HouseWashington, D.C. – On Thursday, April 20th, 2020, the Bureau of Economic Analysis (BEA) released its advance estimate of U.S. GDP for the first quarter of 2020.

BEA estimates that real GDP contracted 4.8 percent at an annual rate in the first quarter of 2020, the first decline in six years. In comparison, real GDP expanded 2.5 percent annually over the first three years of the Donald Trump Administration.

This release confirms that COVID-19’s unprecedented adverse shock to the economy brought an end to the longest economic expansion in U.S. history.

Coronavirus

Coronavirus

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