Oh, Trump is going to hate to read this.
Courtesy of Business Insider:
Current polling suggests a blue wave led by Democratic presidential nominee Joe Biden is becoming more likely, as he extends his lead following last week’s presidential debate, Goldman Sachs said in a note on Monday.
Democratic control of the presidency and both the House and the Senate would likely lead to a surge in economic growth, according to Goldman, as it would give Biden and his party more latitude to pass their legislative agenda.
If Biden does win in the upcoming November election, the probability of a fiscal stimulus package being passed would sharply increase, which would likely be worth at least $2 trillion and pass shortly after the presidential inauguration on January 20.
That stimulus would help boost short-term growth in the economy, but longer-term economic growth forecasts would be lifted by spending increases on infrastructure, climate, healthcare, and education, the note said.
Those spending increases would “at least match the likely longer-term tax increases” on corporations and higher-income earners, Goldman said.
Assuming the Fed leaves rates unchanged until the economy reaches full employment and inflation is just above 2%, “we estimate the net effect of the [Biden] package would be a frontloaded increase” to economic output, “as well as a more backloaded boost to core PCE inflation,” Goldman explained.
I have said it before, but it bears repeating, if you want a strong economy you vote for the Democrats.
The idea that the Republicans are good for the economy is the result of message saturation by the GOP and has not relation to the facts.
I, for one, and quite confident that Joe Biden is uniquely positioned to repair our damaged economy, mainly because he is already gathering the team together that repaired the economy back in 2009.
By the way, that is the same economy that Donald Trump claimed as his own for the last three and a half years.