President Donald Trump faces a new obstacle to his case for re-election - the US is now officially in recession
. cements the pain that many voters are already feeling from the economy - and will feed into their choice in November for who will be able to steer the economy back.For Democrat Joe Biden, the proclamation from the National Bureau of Economic Research is further evidence that the economy was on shaky ground even before the worst of the coronavirus hit. Trump, he said, has "squandered" the booming economy he inherited from President Barack Obama and himself.
Biden, for his part, argues that as vice president in 2009 he inherited the recession that began under Republican George W. Bush. He says he led the recovery efforts that began the economic expansion that ended in February and that he can do it again, this time as president. The NBER, the official scorekeeper of when business cycles begin and end, said Monday that the recovery that began under Obama concluded its record 128-month run in February.
"The president isn't responsible for the virus," Biden said in a statement. "But he is responsible for a completely bungled response that not only cost thousands of lives, but millions more jobs than should have been lost."That's on Donald Trump. It did not have to be this way," he said. Job growth and household incomes have the most direct effect on presidential approval ratings - not whether economists say there's a recession. But recession dates are important to economic historians, who generally believe that Democratic presidents have been better for the economy than Republicans.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NBA legends swipe Donald Trump and America’s systemic racismCivil rights activist and NBA legend Bill Russell has delivered a scathing swipe at US President realDonaldTrump over his divisive remarks.
Read more »
Warning signs: Racial unrest, virus force Trump camp to recalibrateLess than five months before Americans will decide his fate, Donald Trump is confronting a vastly different political reality than he once envisioned. For starters, if the election were held today, he'd likely lose
Read more »
Trump denounced as 'cruel and reckless' over 'set up' tweetsThe US President suggested a 75-year-old man knocked to the ground during a Black Lives Matter protest may have been a set up&x27;.
Read more »
Donald Trump tweets conspiracy theory about elderly man shoved by Buffalo policeThe president's tweet was apparently based on watching a report on OANN, a right-wing television network that specialises in conspiracy theories and has become a favourite at the White House.
Read more »
Donald Trump 'remarkably consistent' with policies | Sky News AustraliaThe US Studies Centre’s James Brown says US President Donald Trump has been 'remarkably consistent with his policies” and “he’s got time” before the 2020 election to shape his strategy.\n\n“Every time Trump has called for a new strategy, he’s ended up doubling down on his instincts,” Mr Brown told Sky News.\n\n“Doubling down on what he promised during the 2016 campaign.\n\n“He talked about tariffs on China, he implemented tariffs on China.\n\n“He talked about reducing troop presence, he’s done that.\n\n“He talked about prioritising American interest onshore and manufacturing, he’s done that.\n\nSo it’s hard to see what a new strategy could look like, he could become a more ideological president.\n\n“He could adopt an anti communist rhetoric against China even more strongly.”\n
Read more »
Republican Colin Powell says Donald Trump 'lies all the time', backs Joe BidenMr Powell, who led the US military during the Gulf War and later headed the State Department, says Donald Trump is dangerous to American democracy.
Read more »