Many hardworking Trump supporters believe the GOP’s economic policies are better for them and the country. For most Americans, economics translates to our ability to support ourselves. Since the COVID pandemic, our economic recovery has experienced high inflation rates. Despite Biden’s successful policies to slow inflation and invest in infrastructure, supply chain repair and domestic manufacturing, some Americans wrongly believe that the GOP and Trump’s policies will ease their financial burdens.
A recent analysis by Moody’s Analytics of Trump’s proposed economic policies found that they would trigger a recession by mid-2025, resulting in millions of job losses, rising inflation and reduced economic growth. The GOP’s economic policies, which include slashing taxes for the wealthy, deporting over 10 million immigrant workers and increasing tariffs on most imports, would hurt workers, consumers and companies significantly and add trillions to the national debt. Consider this fact: none of the Fortune 100 CEOs (mostly registered Republicans) have donated to the Trump election campaign.
Even the American Enterprise Institute, a conservative think tank, agrees that Trump’s tariffs plan would harm the American economy. Moody’s chief economist summarized their analysis with this straightforward statement: Biden’s policies are better for the economy.
