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U.S. Economy Shrank by 3.5% Last Year

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“The U.S. economy shrank by 3.5 percent last year as the novel coronavirus upended American business and households, making 2020 the worst year for U.S. economic growth since the depths of the Great Recession,” the Washington Post reports.

“This is the last GDP report from former president Donald Trump’s tenure. Until the pandemic, Trump was on track for an economic record that put him near the middle of the pack among recent presidents. But the covid-19 crisis has ensured that he is likely to have overseen the slowest economic growth of any president in the period since the Second World War.”

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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