Moody's: Biden would add 7.4 Million more jobs than Trump
A victory for Joe Biden over Donald Trump and a Democratic sweepwhere Republicans lose the Senatewould result in the biggest rebound in economic growth and employment, according to a recent analysis of both candidates economic proposals by Moodys Analytics.
Moodys analyzed four potential outcomes for the November presidential election: A total Democratic sweep; a total Republican sweep; Democrats winning the presidency and the House but not the Senate; and status quo with Trump in the White House, Democrats controlling the House and Republicans holding the Senate. Based on the economic proposals of both President Trump and Biden, the economic outlook is strongest under the scenario in which Biden and the Democrats sweep Congress and fully adopt their economic agenda, said Moodys Analytics chief economist Mark Zandi. A Blue Wavein which Democrats control both chambers of Congress and the White Housewould result in the highest number of jobs added and the best rebound in economic growth, Moodys found.
Even allowing for some variability in the accuracy of the economic modeling and underlying assumptions that drive our analysis, we conclude that Bidens economic proposals would result in a stronger U.S. economy than Trumps, Moodys concluded.
Big Number: 7.4 Million. Thats how many more jobs would be added to the economy under Biden than Trump, Moodys report found. Largely because of Bidens substantially more expansive fiscal policies, the economy would return to full employment more quickly coming out of the pandemic than under Trumpin the second half of 2022 under Biden, compared with the first half of 2024 under Trump.
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