...an easily projected response......just politically deny the short term healing that is happening, SHORTER than anticipated.....SMH.....
Biden dismisses record economic growth as not 'nearly enough' to dig out of 'deep' recession
Trump campaign says president is 'rapidly' rebuilding 'world's best economy'
By Evie Fordham | Fox News
Democratic presidential nominee Joe Biden dismissed the U.S. economy's record-shattering growth as not "nearly enough" to get the country out of a "deep hole" on Thursday.
"This report underscores three inescapable truths about Donald Trump’s economy: we are in a deep hole and President Trump’s failure to act has meant that Q3 growth wasn’t nearly enough to get us out of; the recovery is slowing if not stalling; and the recovery that is happening is helping those at the top, but leaving tens of millions of working families and small businesses behind," Biden said in a statement.
Gross domestic product, the broadest measure of goods and services produced across the economy, surged by 33.1% on an annualized basis in the three-month period from July through September, the Commerce Department said in its first reading of the data Thursday. The previous post-World War II record was a 16.7% increase in 1950.
The economy had contracted at an annual revised rate of 31.4% in the previous quarter, the sharpest decline in modern American history, and the economy remains 3.5% smaller than at the end of 2019.
The GDP data, released Thursday morning, was one of the last major economic indicators to come out ahead of Election Day on Tuesday. Another key indicator, weekly unemployment claims, showed that the number of Americans filing for claims fell under 800,000 for the first time since March.
More than 65 million Americans ‒ roughly 40% of the nation's labor force ‒ have sought jobless aid since the coronavirus lockdowns began in mid-March.