Dear Editor: After Donald Trump's Super Tuesday victories in the Republican nomination for president, Trump declared that the United States sucks and our economy is in shambles.
The facts presented by the International Monetary Fund highlight Trump's lies.
The United States economy grew faster than any other major advanced economy by far. US GDP is now 6.1% higher than it was at the end of 2019. Our GDP recovery has been faster than the rest of the world.
IMF economists forecast similarly first-class growth for 2024
All countries faced the same problems of inflation after the pandemic. Thanks to the Infrastructure Act, the Chips and Science ACT, and the Inflation Reduction Act, we have been able to significantly increase our manufacturing capacity in the United States without fueling inflation.
Inflation, which rose to a worrying 9.1%, has fallen to 3.1% and is expected to return to the Federal Reserve's 2% target.
During the pandemic, gasoline prices exceeded $5 per gallon. Gas prices have fallen to $3 a gallon, with forecasts predicting a further drop in 2024 that will set an estimated $32 billion back to consumers.
Wage growth will begin to outpace inflation, which will bolster consumer spending and economic well-being.
Millions of lower-income workers advanced to better jobs and more income security. Unemployment is at its lowest level in half a century.
We benefit from higher labor force participation, wage growth and improved productivity. Strong policy responses during the pandemic led to a strong and broad-based recovery, which was faster than before in the US
Don't buy the candidates' political lies. Demand verifiable facts from candidates before you vote for them.
Jerry Hanson
Elkhorn
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