President Trump said Thursday that his defeat by Joe Biden could spell a “1929 situation” for the economy, as Biden blamed Trump for the massive job loss during the coronavirus pandemic.
Grief campaign messages followed the release of data showing the US economy added 4.8 million jobs in June, reducing unemployment to 11.1 percent, compared to a peak of 14.7 percent in April.
Trump said he is doing “incredible work” to revive the economy, while his Democratic rival, speaking simultaneously, said Trump’s missteps were the reason for the economic downturn.
At the White House, Trump inspected U.S.-made products before warning assembled businessmen that Democrats could trigger a Great Depression with new taxes and regulations.
“You will have an accident like you have never seen before if you put the wrong person in office. You will see things that you would not have believed possible.
If the Democrats defeat him, “It will be a terrible, terrible sight. It could even be a 1929 situation, ”Trump said, referring to the market crash that preceded the Great Depression.
If reelected, Trump said, “You have a chance to have the highest number in history, you’re almost there.” We’re almost back to where we were from a stock market point of view, think about it. ”
But Biden, giving a video speech, tried to cushion Trump’s return to victory in job numbers, saying the president was the reason why tens of millions of people applied for unemployment benefits since March.
“Donald Trump has so messed up the coronavirus response, and now he has basically given up responding at all,” said the former vice president, pointing to record numbers for new infections in the United States.
“Many more Americans, millions of them, would still have their job if Donald Trump had done his job,” said Biden. “Many of the jobs that have now returned should never have been lost in the first place. And for all those whose work has not returned, for all who do not own shares, who cannot obtain the love loan through connections: Does this feel like a victory?
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