How important is the state of the economy in the November 3rd election?

Expert Solution

The economical situations of the US are the deciding factor of the coming election in the US. As the president, Donald Trump is campaigning for reelection by bidding the state and development of the economy during the past 4 years. The growing economy is the best hope for winning another 4 years. Generally, the health of an economy enhances the possibilities of a president's reelection. As the political elections are approaching, most of the Americans are evaluating the improvements in the economic conditions and they can clearly see that the unemployment rate reaches the lowest of the decade, the workforce involvement rate has improved, and the GDP is also growing steadily. Although, there are problems like the weakening of US production due to excises, immigration policies, people worried about endangered national safety and security, abusing his powers, US-China trade war, et cetera.

The only factor which can lead to the reelection of the president is the story of the growing economy as the public is not actually pleased with the president. The president is attempting to resolve the issues as the elections are coming close to but his primary objective is the economic conditions. For this, he is attempting to fix some of the trade issues with China and working on the NAFTA (North American Free Trade Agreement) to relax the excises.

Americans will cast their vote based on their experience of 4 years with the president and if they really feel that the economy is in threat due to trade wars, high tariffs, and weakening of manufacturing industry and there is a possibility of economic downturn in the coming years then reelecting the president will not be a good idea according to them. But if Americans really feel that they are in a better condition today than they were 4 years ago, then reelecting the current president will be a good idea.

Therefore, the financial conditions are extremely important in the presidential elections, held on 3rd November 2020

Rahul Sunny answered 4 months ago

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