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Steady growth to record crash: How the pandemic recast Trump's economic record

Added 09-29-20 03:04:03pm EST - “U.S. President Donald Trump and Democratic rival Joe Biden hold the first of three debates Tuesday night ahead of the Nov. 3 election, and the economy is expected to be a key topic. At issue: What did Trump accomplish for the economy…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Steady growth to record crash: How the pandemic recast Trump's economic record”. Below is an excerpt from the article.

WASHINGTON (Reuters) - U.S. President Donald Trump and Democratic rival Joe Biden hold the first of three debates Tuesday night ahead of the Nov. 3 election, and the economy is expected to be a key topic.

At issue: What did Trump accomplish for the economy in three tumultuous years of trade wars and tax cuts? How much blame should he bear for the mass layoffs and slump triggered by the coronavirus pandemic? Can Biden convince voters he will be a better steward of the world's largest economy?

Before March, Trump had a clear argument for reelection. Record-low unemployment and rising wages were helping the less well-off, while a record stock market buoyed richer Americans.

Even at that point, however, growth seemed to be slowing as the impact of 2017's tax cut, which slashed taxes for companies, ebbed.

Stacked against his campaign promises from 2016, Trump's record was mixed on issues including eliminating the trade deficit and locking in 3% annual economic growth. (See graphic: https://tmsnrt.rs/2P4ZAuG)

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