Democratic presidential candidate Joe Biden's economic agenda would lead to 7 million more jobs created compared to President Donald Trump's, according to a new analysis from Moody's Analytics, a research firm.
The study, conducted by Mark Zandi and Bernard Yaros, evaluated the economy's trajectory under four different scenarios. But it found that a Democratic sweep where Biden is elected and Democrats recapture the Senate would lead to a significant increase in federal spending. They assume it would be largely "deficit-financed," meaning the government racks up a bigger federal debt.
The spending, though, wouldn't be a drag on overall growth. Instead, 18.6 million jobs would be created during Biden's first term, and lift the average American's household after-tax income by $4,800. That's 7 million more jobs compared to a scenario where Trump is reelected and Republicans hold onto the Senate. Household incomes largely stay the same should the GOP control both the legislative and executive branches.
The study, conducted by Mark Zandi and Bernard Yaros, evaluated the economy's trajectory under four different scenarios. But it found that a Democratic sweep where Biden is elected and Democrats recapture the Senate would lead to a significant increase in federal spending. They assume it would be largely "deficit-financed," meaning the government racks up a bigger federal debt.
The spending, though, wouldn't be a drag on overall growth. Instead, 18.6 million jobs would be created during Biden's first term, and lift the average American's household after-tax income by $4,800. That's 7 million more jobs compared to a scenario where Trump is reelected and Republicans hold onto the Senate. Household incomes largely stay the same should the GOP control both the legislative and executive branches.
Let's make sure we win the White House and Senate and retain the House, shall we?
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