Recessions take place and they have their recoveries. The 2008 recession came under the G.W. Bush administration when America needlessly sunk the world economy. By the last term of the Obama administration the recovery curve was underway.
Along comes His Headcase, D.Trump who, with signature fatuous flourish, declares a big tax cut during an already growing healthy recovery curve. That, as tax cuts typically do after a short economic sugar high, gets swallowed into the sinkhole of the super wealthy’s pocketbooks. The resulting wasted cost of course is dumped onto the American public deficit. Somebody has to pay for it.
All the while His Headcase had been sucking the recovery rebound by taking credit for the great economy — he inherited. And guess what? The bulk of Americans actually bought it! Many still are hornswoggled. A systemic thinking gullibility?
Mind you, the responsible mainstream news media (that is, pretty much all of those apart from Fox News, Trump’s propaganda network, save for perhaps Chris Wallace) unfortunately could have done a far better service analyzing it.
Take Canada as an example, along with perhaps Australia and New Zealand, which because of its banking system lost no banks, unlike the U.S. and others, dodging an important part of the punishment. It was the last country to be effected by the 2008 recession, and the first to come out of it. Even prior to the U.S, its economy was humming robustly until Covid hit.
Little Ol’ Canuck Land did that all by itself. Without some dubious American businessman, a bumptiously self-promoting Reality TV faux messiah, with an exploitative pulpit in his back pocket.
So enough of the myth, dear voter.