Letter to the editor: Trump was a failure on economy

It is extremely important that the press recalls and reports accurate facts on Donald Trump’s management of the economy, 2017 to 2021.

• His tax cuts yielded $7.8 trillion in additional national debt.

• Wealthy Americans paid a net lower tax rate than middle-income Americans.

• Trump’s term ended with the highest number of unemployed in the history of the United States.

• Trump’s pandemic management program caused total disruption of the economy, manufacturing and logistics, triggering rampant inflation.

In short, Trump was an absolute failure at managing the economy.

With historical references: The previous Republican president, George W. Bush, left the nation in deep financial crisis with more mortgage foreclosures and bank failures since the Great Depression.

Following each of these financial crises, 2009 and 2021, it was Joe Biden who was responsible for cleaning up the mess, saving large corporations such as General Motors, and getting America back to work. Through leading bipartisan efforts to apply stringent bank capital requirements, stability was restored in the financial sector.

And Biden-Harris created over 14 million new jobs in 2021-24, yielding the longest period of sub-4% unemployment in over 50 years.

In 2021-23, with the Biden-Harris Inflation Reduction Act, and careful monetary and fiscal guidance, Biden-Harris steered the USA to achieve the fastest recovery of any of the G7 economies and brought post-covid inflation down to target levels.

It is a myth that the Republican Party is a strong guardian of the U.S. economy. This is aside from, and secondary to, the unacceptable moral character of Donald Trump.

Frank Wade

Oakdale