Wednesday, May 15, 2024 2:26:25 PM
Misinformation also pisses people off.
From Lagging to Record-Breaking: How Democratic Policies Changed the Trajectory of Our Recovery and Secured Our Economic Outlook
March 13, 2023
https://democrats-budget.house.gov/resources/reports/lagging-record-breaking-how-democratic-policies-changed-trajectory-our-recovery
Three years ago, in March 2020, the United States experienced the single largest job loss in any month on record, losing 1.4 million jobs in one fell swoop. The next month, that record was blown out of the water with a staggering 20.5 million jobs lost. By the Spring of 2020, COVID-19 was tearing through communities around the globe, and economic activity came to a sudden and near-complete halt as people sheltered to stay safe from a once-in-a-generation pandemic. Businesses were shuttering, and layoffs were broad, eminent, and swift. Over the coming months it became clear that the recession would be severe.
Indeed, in the first and second quarters of 2020, GDP growth fell by 4.6 percent and then a shocking 29.9 percent. Unemployment Insurance (UI) claims hit record highs with over 6 million claims in just a single week in April. Millions of Americans were out of work through no fault of their own and needed support to survive. Families were unable to put food on the table or keep a roof over their heads and all worried for the health and safety of their loved ones.
Looking back to where we were just three years ago, the progress we have made is extraordinary. Since February 2021, 12.4 million jobs have been created, and unemployment is near record lows of 3.6 percent. UI claims have returned to their historical levels, and GDP growth remains even. This historic recovery has had its fair share of inevitable challenges, including global inflation spikes fueled by ongoing universal supply chain issues and Russia's invasion of Ukraine. And while inflation peaked in the Fall of 2022 as the economy "reopened," it continues to fall and is expected to return to normal levels soon.
The available data underscore the strength and stability of our record-breaking recovery. Policy from President Biden and Congressional Democrats helped spur the fastest and most equitable recovery in decades. But this recovery was in no way guaranteed. The U.S. has greatly outpaced the rest of the world and our peer nations in terms of the speed and size of our recovery. Our nation's GDP growth has been swifter than Germany, France, Italy, and the UK. And inflation has increased in all these countries, but has fallen the fastest in the United States.
Note AGAIN under whom, under which political parties, these recessions began. I don't FEEL that the GOP economic policies are good for this country.
From Lagging to Record-Breaking: How Democratic Policies Changed the Trajectory of Our Recovery and Secured Our Economic Outlook
March 13, 2023
https://democrats-budget.house.gov/resources/reports/lagging-record-breaking-how-democratic-policies-changed-trajectory-our-recovery
Three years ago, in March 2020, the United States experienced the single largest job loss in any month on record, losing 1.4 million jobs in one fell swoop. The next month, that record was blown out of the water with a staggering 20.5 million jobs lost. By the Spring of 2020, COVID-19 was tearing through communities around the globe, and economic activity came to a sudden and near-complete halt as people sheltered to stay safe from a once-in-a-generation pandemic. Businesses were shuttering, and layoffs were broad, eminent, and swift. Over the coming months it became clear that the recession would be severe.
Indeed, in the first and second quarters of 2020, GDP growth fell by 4.6 percent and then a shocking 29.9 percent. Unemployment Insurance (UI) claims hit record highs with over 6 million claims in just a single week in April. Millions of Americans were out of work through no fault of their own and needed support to survive. Families were unable to put food on the table or keep a roof over their heads and all worried for the health and safety of their loved ones.
Looking back to where we were just three years ago, the progress we have made is extraordinary. Since February 2021, 12.4 million jobs have been created, and unemployment is near record lows of 3.6 percent. UI claims have returned to their historical levels, and GDP growth remains even. This historic recovery has had its fair share of inevitable challenges, including global inflation spikes fueled by ongoing universal supply chain issues and Russia's invasion of Ukraine. And while inflation peaked in the Fall of 2022 as the economy "reopened," it continues to fall and is expected to return to normal levels soon.
The available data underscore the strength and stability of our record-breaking recovery. Policy from President Biden and Congressional Democrats helped spur the fastest and most equitable recovery in decades. But this recovery was in no way guaranteed. The U.S. has greatly outpaced the rest of the world and our peer nations in terms of the speed and size of our recovery. Our nation's GDP growth has been swifter than Germany, France, Italy, and the UK. And inflation has increased in all these countries, but has fallen the fastest in the United States.
Note AGAIN under whom, under which political parties, these recessions began. I don't FEEL that the GOP economic policies are good for this country.
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