The Economy: A Key Topic in the Presidential Debate, but Whose Numbers Hold Up?

The economy was a major topic during the presidential debate between Joe Biden and Donald Trump. While Biden painted a dire picture of the American economy, Trump boasted about his handling of the pandemic and the state of the economy during his time in office.

However, Trump’s claims were not entirely accurate. Despite his 2017 tax cuts, budget deficits were actually increasing under his administration, with the deficit growing from $584 billion to $984 billion in 2019 and exceeding $3 trillion in 2020 after the pandemic hit.

According to a May Gallup poll, about 3 in 10 Americans considered economic issues as their top concern. This included high cost of living, inflation, immigration, and poor government leadership.

Both candidates made factual errors during the debate. Biden initially claimed he had created 15,000 jobs but the actual number was over 15 million. He also misstated the cost of an insulin shot, saying it was $15 when the actual capped cost was $35 for older Americans on Medicare. Trump incorrectly stated that the U.S. was ready to reduce its national debt before the pandemic, which was not true due to increasing budget deficits during his term.

In conclusion, while both candidates discussed economic issues during