Today in America, a greater share of prime working-age adults have a job than at any time during the Trump administration, there is record factory investment, and energy production is booming. Because of Vice President Harris and President Biden’s leadership:
- Nearly 16 million jobs have been created, more jobs than at any time in American history.
- More than 200,000 jobs per month on average have been created over the last year – a higher monthly average than in any year of the Trump administration.
- We have the lowest average unemployment of any administration in 50 years and the highest share of prime working-age Americans in the workforce in more than 20 years – including under the Trump administration.
Donald Trump left office with the worst economic record in modern American history. Let’s remember what he left us:
- The unemployment rate was 6.7% during Trump’s last full month in office and 10 million Americans were out of work.
- In 2020, he lost 839,000 total energy jobs alone
- Trump was the first president since Herbert Hoover to leave office with fewer jobs than when he started.
- Across the industrial Midwest, he left the manufacturing industry decimated:
- Trump let more than 300,000 businesses fail and destroyed more than a million jobs by neglecting relief for small businesses during the pandemic.
Now, as Vice President Harris runs on an economic vision of taking on corporate greed to lower costs and build up the middle class, Trump’s extreme Project 2025 agenda would be even more disastrous for our economy than his first term:
- Axios: Trump’s inflation bomb: How his second-term plans could make it worse
- CNN: Trump’s trade agenda and the ensuing retaliation from trading partners would hurt the US economy by worsening inflation, killing jobs, depressing growth and spooking investors.
- Moody’s: Trump’s agenda would trigger a recession by mid-2025, inflation would rise, and the U.S. would lose more than 3 million jobs.
- Center for American Progress: Trump’s agenda would raise taxes for middle-income households by $5,100 to $8,300 while cutting taxes for the top 0.1 percent by at least $1.5 million annually.
- PIIE: Under Trump’s agenda the top 1% will see a windfall under Trump, while working and middle class families get a tax hike.
- Trump said “there’s a lot you can do … in terms of cutting” Social Security and Medicare, a plan that would rip hard-earned benefits away from the middle class.
- Trump wants to repeal the Affordable Care Act, increasing health care costs and ripping away protections from millions of Americans.
The following is a quote from Harris for President spokesperson James Singer:
“Donald Trump failed Americans as president, costing our economy millions of jobs, and bringing us to the brink of recession. Now, he’s promising even more damage with a Project 2025 agenda that will decimate the middle class and increase taxes on working families, while ripping away health care, raising prescription drug costs, and cutting Social Security and Medicare – all while making his billionaire donors richer.
“We’ve made significant progress, but Vice President Harris knows there’s more work to do to lower costs for families. That’s why she will make building up the middle class the defining goal of her presidency, taking on greedy corporations that are price gouging consumers, banning hidden fees, and capping unfair rent increases and drug costs.”
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