10 reasons Trump should be blamed for the unemployment numbers

10 reasons Trump should be blamed for the unemployment numbers

Trump spends $28 million on digital ads

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In the coronavirus economy, millions are out of work because of the shutdowns. The economy hasn’t been worse since the Great Depression.

Trump claims people don’t blame him for the crash. But the fact is Trump’s decisions when it came to the handling of the pandemic helped make it much worse than it needed to be.

Moreover, the bailout mainly helped  Wall Street and Trump cronies more than it helped families and workers and many small businesses.

Also, Trump’s previous financial policies, such as his failed trade war and tax cut for the rich, had weakened the economy — creating a manufacturing recession while saddling up with huge debt.

Here then are 10 reason Trump should be blamed for the dismal state of the U.S. economy.

1. Trump’s failure to act on COVID-19 early

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In January, according to the New York Times, multiple officials warned Trump about the mysterious illness that caused China to shut down. However, the president was suspicious of those who tried to tell him anything, since he believed that the “Deep State” was trying to bring him down.

The National Security Council advised shutdowns early in January, a decision that Trump wouldn’t endorse until March. HHS Secretary Alex Azar told Trump of the coronavirus on a phone call on January 30.

2. Lies told about the virus being contained

Trump signing document in the Oval Office

Flickr / The White House

While panic and consumer confidence drops drove the stock market to historic lows, Trump lied to try and boost the economy back to its booming state.

“When it gets a little warmer, it miraculously goes away,” said Trump, referring to April. He had hoped that the virus would be contained by the end of March, going so far as to hint at an Easter re-opening.

3. Trump’s refusal to work with China

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Trump’s deputy national security adviser Matthew Pottinger believed that China’s government had covered up an accident: that COVID-19 was created in a lab in Wuhan, and that it was possibly some form of weapon. Secretary of State Mike Pompeo wanted official statements to refer to the virus as the “Wuhan Virus.”

However, other aides were concerned that such an approach would scare China away from working with the U.S. government on pharmaceutical aid and vaccine development. They were able to stave off hostile words until Trump decided to refer to the virus on Twitter as the “Chinese Virus.”

4. Trump cutting off government funding to the WHO

Trump admin. sent health workers to receive infected Coronavirus patients without protective gear

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In the middle of a crisis, Trump abruptly withdrew funding from the World Health Organization. He accused the organization of not acting fast enough when it first learned of COVID-19. The United States is the largest donor to the WHO by far, donating over $893 million in 2018.

5. Trump’s rush towards corporate bailouts

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Amid a market crash, the Senate and Trump passed a stimulus package worth $2 trillion. Nestled in that package, amongst payouts to working families, was a $500 billion stimulus package for businesses and corporations. Airlines received $25 billion in bailout funds.

Treasury Secretary Steve Mnuchin didn’t have to say where some of that money was going for six months.

6. Same strategy as 2008

Treasury Secretary Steve Mnuchin thinks you can live on $120 a week. Twitter not so much. 1

Screenshot / YouTube

ProPublica wrote that while corporate America bounced back after the stimulus package was passed, workers were still in the same condition as before. Furthermore, banks were asked to extend lending to those in need. However, when this request was made of them in 2008, nothing happened. They received the bailout money but did not meet the demands.

Meanwhile, small business loans will give these same banks billions of dollars in fees.

7. Plagued by corruption

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Screenshot / RepresentUS

The small business bailouts were supposed to provide payroll funding for small businesses under 500 employees. However, according to the L.A. Times, companies like hedge fund managers were claiming to be small businesses in need of loans. Hedge funds hire as few people as possible so as not to share the millions of dollars they collect in fees. Even the L.A. Lakers team applied for a small business loan.

8. Tariffs wore down the economy before COVID-19

Trump's tarriffs on China are costing Americans $40 billion a year in taxes, Fed finds

Screenshot/YouTube

Trump put tariffs on American manufacturing, which wore down the companies’ ability to compete with other countries. In surveys, according to the New York Times, economists said that global supply chains had made tariffs even more costly than in the past. China retaliated, starting a trade war with the U.S.

9. Tax cuts lined the pockets of the wealthy

World's richest man cuts health benefits for 1,900 workers and 8 more terrible things Jeff Bezos has done 7

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“From a purely economic standpoint, the Tax Cuts and Jobs Act of 2017 has been an enormous flop,” writes Michael Linden for CNN. The Tax Cuts and Jobs Act did not create millions of jobs, wages were not increased, and the GDP did not rise significantly. Instead, the rich only grew richer.

10. Steel and farms were already in trouble

‘Look what I’ve done for steel,’ brags Trump, as 1,500 steel workers lose their jobs 1

Screenshot/United Steelworkers

U.S. Steel Corp had tanked in worth by 70% in 2019. Large mills were closed, and hundreds were laid off from their jobs before COVID-19 hit. Farms also struggled: Trump’s Department of Agriculture Secretary Sonny Perdue advised farmers to have “off-farm jobs” in order to support themselves.

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