Trump says Biden as president could lead to next Great Depression

NY Post reports President Trump said Thursday that his defeat by Joe Biden could mean a “1929 situation” for the economy — as Biden blamed Trump for mass job losses during the coronavirus pandemic.

The dueling campaign messages followed release of data showing the US economy added 4.8 million jobs in June, reducing unemployment to 11.1 percent, down from a peak of 14.7 percent in April.

Trump said he’s doing an “incredible job” to revive the economy, while his Democratic rival — speaking simultaneously — said Trump’s missteps were the reason for the economic downturn.

At the White House, Trump inspected US-made products before warning assembled businessmen that Democrats could unleash a Great Depression with new taxes and regulations.

“You’ll have a crash like you’ve never seen before if you put the wrong person in office. You’ll see things that you would not have believed are possible.”

If Democrats defeat him, “It will be a terrible, terrible sight. It might even be a 1929 situation,” Trump said, referring to the market plunge that preceded the Great Depression.