The U.S. Commerce Department reported Thursday that the country's second quarter GDP plunged 32.9% on an annual basis. It was the worst recorded drop since the government began reporting shortly after WWII. It comes after the first quarter GDP drop of 5%. The GDP number represents Trump's ignorance on the U.S. economy and the lack of interest in the coronavirus situation. It is also a failure of Trump and his party's ideology on tax cuts.
The President's prediction that the GDP would grow on a consistent basis of between 3-5% per year has never come close. There was never a economic policy or plan to accomplish that or even keep the Obama economy running at a steady level. The tax cuts did not even give business the thought of hiring more workers or invest in pant and equipment as compared to past administrations. And as of this writing Trump and his party has failed to have legislation in place to replace the expired Virus relief package that congress passed 3 months ago. But the democrats in the U.S. House did their part by passing legislation months ago. However, Trump and his party ignored the democrats bill, waited until the last minute and then discovered their own party was at odds over their own bill. So at this writing there is no virus relief legislation thanks to Trump and his party's incompetence.
The Democratic Party has proven once again they are the best at governing even when they do not control the White House.
This commentary written by Joe Lorio
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