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Sun Sep 27, 2020, 06:53 AM

Moody's: Biden would add 7.4 Million more jobs than Trump

A victory for Joe Biden over Donald Trump and a Democratic sweep—where Republicans lose the Senate—would result in the biggest rebound in economic growth and employment, according to a recent analysis of both candidates’ economic proposals by Moody’s Analytics.

Moody’s analyzed four potential outcomes for the November presidential election: A total Democratic sweep; a total Republican sweep; Democrats winning the presidency and the House but not the Senate; and status quo with Trump in the White House, Democrats controlling the House and Republicans holding the Senate. Based on the economic proposals of both President Trump and Biden, “the economic outlook is strongest under the scenario in which Biden and the Democrats sweep Congress and fully adopt their economic agenda,” said Moody’s Analytics chief economist Mark Zandi. A Blue Wave—in which Democrats control both chambers of Congress and the White House—would result in the highest number of jobs added and the best rebound in economic growth, Moody’s found.

“Even allowing for some variability in the accuracy of the economic modeling and underlying assumptions that drive our analysis, we conclude that Biden’s economic proposals would result in a stronger U.S. economy than Trump’s,” Moody’s concluded.

Big Number: 7.4 Million. That’s how many more jobs would be added to the economy under Biden than Trump, Moody’s report found. “Largely because of Biden’s substantially more expansive fiscal policies, the economy would return to full employment more quickly coming out of the pandemic than under Trump—in the second half of 2022 under Biden, compared with the first half of 2024 under Trump.”

http://on.forbes.com/6185Gxo35

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