Biden Says The Next President Will Likely Inherit a Recession
When everything else around him seems controversial, Donald Trump likes to hang his hat on the economy. One of the main promises he made to his voters when he ran for the Republican nomination is that the country will always have a strong economy under his watch.
And if you listen to Trump, you will hear that the economy is booming and that it has never been so strong. Some analysts, though, believe the strong economy numbers are built on a house of cards. Democratic Presidential hopeful, Joe Biden, agrees with them and predicts the next President will be inheriting a recession.
Just think morning, the President was tweeting about the stock market and the strong economy. Trump wrote, “Stock Markets Up Record Numbers. For this year alone, Dow up 18.65%, S&P up 24.36%, Nasdaq Composite up 29.17%. It’s the economy, stupid.”
The former Vice President isn’t so sure that the current economy is built to last. Biden first talked about the economy that Barack Obama inherited in 2009. He said that Obama “probably saved” the US economy with his Recovery Act of 2009.
Biden then claimed, “That’s the exact opposite of what Trump has done. What he has done hasn’t grown the economy.”
The candidate was then asked if he would support legislation like 1995’s Balanced Budget Act. He told John Harwood, “No, because we’re in a different place now. I hope it’s not true, but we’re likely to inherit a recession, at least a significant economic slowdown. That doesn’t make sense.”