LOOKING DEEPER INTO THE ELECTIONS
FROM AN ECONOMIC PERSPECTIVE I
t looks like the Trump presidency is about to end, considering the outcome of the recent election. Thus, Biden is a step closer to the white house. Whether Trump or Biden, one person will be sworn into office come January 2021 as the US President. However, economic and political analysts have analyzed to know which of the two presidencies will best manage the country in the next four years. From an economic perspective, several reasons indicate that the Biden and Kamala administration is what America needs at this time of history. If Biden is finally sworn in as President, he would have made history like Bill Clinton in 1922. Clinton was the last politician to oust an incumbent President when he defeated George Bush to become President himself. Perhaps, Biden will also make history. When Clinton ousted Bush, the US economy witnessed a massive development. There was a drastic reduction in unemployment, and the stock market saw a
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significant increase. Under the Clinton administration, the US economy boomed, and the budget deficit was turned into a surplus. There’s a significant reason for placing the Clinton administration side by side with the expected Biden administration. They have something in common — ousting an incumbent President. The question now is, will history repeat itself from an economic perspective? Will the US also experience an economic boom under the Biden Kamala administration? When Clinton emerged as President, the US was at a
recovery stage coming from the recession of the early 1990s. Unfortunately, that is not the case when Biden is expected to go into the white house. The US economy at this time of history has suffered a lot of setbacks under the Trump administration. The poorly managed economy might get poorer if things are left to continue the way they are. The economy has been negatively impacted by the Covid-19 pandemic, which keeps growing daily. Although a stimulus package was provided to boost consumer spending and make organizations have enough to keep their business growth in the face of the pandemic;
THE POWER IS NOW MAGAZINE | DECEMBER 2020
