Donald Trump and Barack Obama. (Photo Credit-Reuters)
An article published on Bloomberg says that if Joe Biden is elected president, he should follow the economic policies of Donald Trump rather than Barack Obama.
- Last Updated:October 31, 2020 at 6:56 AM
The article says that Biden may have added a tough time to Corona in his criticism of Trump, but Trump’s economic policies are far superior to Obama’s in statistics before the outbreak of the epidemic.
Reduced unemployment rate
The article says That the unemployment percentage decreased between December 2009 to December 2016 during Obama’s reign. The unemployment percentage in 2009 was 9.9, then it was 4.7 in 2016. But if we look at the figures for the month of December 2019, the unemployment rate decreased by 1.2 percent. This means that it has gone up to 3.5 percent. But the article says that this was the first time since the 1980s under Trump’s rule that Americans in the age group of 25 to 54 or job seekers got steady growth. This change changed the character of the labor market.
Large increase in annual income of ordinary American households
In 2016, the annual income of ordinary American households was $ 62,898. Which was just $ 257 more than the 1999 level. But it increased to $ 68,703 in the next three years. That means there was a big difference of about 6 thousand US dollars. According to the Indian rupee, this difference was around 4.5 lakh. This is the reason why according to a survey, 56 percent of the voting voters, despite seeing the crisis of the epidemic, believed that their lives had improved.
Behind this, the policy of the Trump administration is being considered as very responsible under which he insisted on reducing the tax on the business houses. The idea was that by reducing tax, business houses would spend more money in investment and salary. This will also create jobs and increase the salary of the people. Traditionally, in the US, both parties have been putting more emphasis on increasing spending so that the entire economy improves and employment increases. Till now the governments did not pay attention to the interest policy, as Trump gave.
Emphasis on increasing employment in agriculture and manufacturing sector
In addition, Trump worked aggressively to increase employment in manufacturing and agriculture. For this reason, Trump also got involved in trade war with many countries. Especially with China. Many experts then believed that all this could harm the trump. The article says that if people have to choose between Trump’s policies and trade war, then the choice is very easy.