Put Republicans – Donald Trump, Glenn Youngkin, etc. – in charge, this is what you get. From Moody’s Chief Economist Mark Zandi:
“State-level data makes it clear why the U.S. economy is on the edge of recession. Based on my assessment of various data, states making up nearly a third of U.S. GDP are either in or at high risk of recession, another third are just holding steady, and the remaining third are growing. States experiencing recessions are spread across the country, but the broader DC area stands out due to government job cuts. Southern states are generally the strongest, but their growth is slowing. California and New York, which together account for over a fifth of U.S. GDP, are holding their own, and their stability is crucial for the national economy to avoid a downturn…
This is my assessment of where state economies are in their business cycle based on various coincident measures of economic activity (e.g. payroll and household employment, industrial production….) If this coincident measure has fallen in a consistent way, I consider the state economy to be in or at significant risk of recession. This coincident measure is not meant to be predictive. We have also constructed leading recession indicators based on a machine learning algorithm. More about that soon.”
So much for that “Golden Age” Trump and Youngkin promised. Also, if you want this crap to continue, then by all means vote Republican this November. If, on the other hand, you’re not crazy and you do NOT want this crap to continue, then make sure you vote Democratic up and down the ballot, this election and EVERY election!
