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We also know how each has performed inthe economy.
Here are three things you could ignore about the economy, and three you should absolutely pay attention to.
Ignore the National Debt…
The national debt is the amount of money that the U.S. Government has borrowed that is still outstanding.
Right now, it is $36.61T.
When Trump took office in 2016, thenational debtwas $24.87T.
When he left office in 2020, it was $31.76T, an increase of $6.89T.
During Bidens tenure, the national debt increased by $4.85T.
When you look at the national debt in combination with the gross domestic product (GDP).
This provides more information about the countrys ability to repay its debt.
Since then, its been on a decline, and its now at 123%.
Pay Attention to Real Disposable Income
Like many economic indicators, inflation doesnt live in a vacuum.
So, even though consumers may be lamenting their higher grocery bill, they are becoming increasingly better off.
If the government takes in more than it spends, thats a surplus.
A surplus has happened four times in the last 50 years.
In 2023, the deficit was $1.7T.
The economy is an important part of any political candidates campaign platform, particularly for presidential candidates.
Understanding where each candidate stands on these important issues will help voters make an informed choice.
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