A new report from CNN soundly refutes Pres. Donald Trump and his claims about the U.S. economy.
As they cite a recent position taken by big bank Goldman Sachs. Which is apparently now giving the exact opposite advice.
The heavyweight investment firm has downplayed warnings from Trump regarding Democrats’ economic policy.
Even projecting a far better financial forecast with Democrats holding the majority.
Goldman Sachs wrote that a blue wave would “sharply raise the probability” of a fiscal stimulus package of at least $2 trillion shortly after the January 20 inauguration. The bank also cited Biden’s longer-term spending plans on infrastructure, climate, health care and education.Taken together, this spending “would at least match the likely longer-term tax increases on corporations and upper-income earnings,” Goldman Sachs wrote. “It would likely result in substantially easier US fiscal policy, a reduced risk of renewed trade escalation, and a firmer global growth outlook.”
That in sharp contrast with Trump’s ongoing predictions. The president forecasting fiscal doom and gloom if Biden were to take office.
No question taxes would rise sharply. But with increased federal funding and low interest rates it seems that Goldman sees there is potential long-term success.
That in turn would aid the U.S. economy to rebound almost 24 months earlier than a second term of Trump.
Economist Mark Zandi, also a former adviser to late Sen. John McCain claimed,”The economic outlook is strongest under the scenario in which Biden and the Democrats sweep Congress and fully adopt their economic agenda,” Along with others at Moody’s who are backing the Biden plan.
This coming as Pres. Trump looks to be taking a plunge in the polls. Trump had engineered historically high numbers with the stock markets up until early 2020. Does Biden bring even more peace and prosperity?