Biden's victory can create 7 million more jobs than Trump and unemployment rate drops faster

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News Media Business Insider (Business Insider) reported that Moody's research industry analysis (Moody's Analytics) A new study showed that US Democratic presidential candidate Joe Biden if victory, his economic policy than Donald Trump do any more than a second Create 7 million job opportunities.

The study conducted by Mark Zandi and Bernard Yaros evaluated the economic growth curve in four different scenarios, including divided government. It found that the Democrats winning the presidential election and regaining control of the Senate would significantly increase federal government spending. They assumed that the vast majority of them "backed up with deficits," meaning that the government would accumulate higher federal debt.

But spending will not drag down overall growth. Biden can create 18.6 million jobs in his first term, increasing US households’ after-tax income by an average of $4,800. Compared with Trump's re-election, the Republican Party renewed the Senate with 7 million jobs. If the Republican Party wins the majority of seats in the Senate and House of Representatives and continues to rule, the income of American households will remain largely unchanged.

Liberal think tank Roosevelt Institute research scholar Michael Linden said: "Moody's analysis tells us that Biden's plan can create more jobs, a stronger economy, and a higher income for the middle class."

Biden took office, the unemployment rate can be below 4% in late 2022; Trump ruling, then, to wait until the first half of 2024, 15 years later.

Trump's economic plan lacks details. He vowed to push another round of tax cuts for the middle class and other plans to assist wealthy investors, but he did not elaborate.