He spreads conspiracy theories that undermine long-term trust in democratic institutions for seemingly no reason other than to influence media coverage in a single news cycle. Recent reporting, which has secured his returns for two decades, suggests that his businesses have consistently claimed large losses and that he appears to have many unresolved conflicts of interest. He has refused to release his tax returns - u nlike his political opponents in both 20 - making it difficult to determine the extent to which his financial interests conflict with the country’s. He has fostered a culture of unabashed corruption by pressuring foreign countries to undermine his political opponents, using the resolute desk to promote a political supporter’s bean products, attempting to divert intergovernmental meetings to his commercial properties, using public resources to conduct campaign events, and allowing White House staff to openly flout the Hatch Act. He has made the country a less appealing place to do business by creating an atmosphere of perpetual chaos and uncertainty, and by using the levers of government to punish individuals and businesses that were insufficiently reverential. He has made the country less attractive to skilled and hard-working immigrants by assaulting religious freedom and by insinuating that the children of non-white immigrants are not truly American. He regularly spreads dangerous misinformation, even during times of crisis, and has been the single largest source of misinformation during the pandemic. He undermined mask use and social distancing, held indoor rallies, encouraged the use of unproven and potentially dangerous medical substances, downplayed the severity of the pandemic, and hosted a superspreader event that incapacitated the White House and forced military leadership into quarantine. His personal behavior during the COVID-19 outbreak endangered public health, the economic recovery, and the safe re-opening of schools. In fact, many countries that have been more effective in their viral containment efforts have also performed better economically. He has dramatically overemphasized the extent to which economic growth and public health are in conflict during a pandemic. He has consistently undermined the independence and credibility of our major health agencies, including the Food and Drug Administration, the Centers for Disease Control, and the National Institutes of Health, eroding public trust in their approvals and recommendations at exactly the time when we most desperately need it. His administration’s public health response to COVID-19 was described by medical scientists as having turned '.a crisis into a tragedy' and as having underperformed relative to other democracies by 'orders of magnitude.' As economists explained in 2016, most of his promises either didn’t make sense or weren’t achievable using his proposed policies. He failed to achieve his campaign’s core economic promises: manufacturing remained a small share of employment, and both the fiscal and trade deficits increased. Furthermore, analysts at Goldman Sachs and Moody’s Analytics have projected that Joe Biden’s economic plans, if implemented, would actually generate faster growth in both employment and real GDP. He claimed to have the unique ability to generate growth (in real GDP) of between 4% and 6%, but never surpassed 2.9% in his first three years in office. Agencies cycle through acting heads, disgruntled former staffers frequently appear in the media with dire warnings, and family members are put in charge of critical pandemic response initiatives. His managerial incompetence has damaged the credibility and effectiveness of the public sector. Even his landmark trade deal, the USMCA, is not projected to have a meaningful impact on either GDP or the trade deficit. His chaotic and ineffective approach to negotiation has damaged relations with trade partners, interrupted supply chains, degraded international norms, and harmed American farmers - all without achieving his stated goal of reducing the trade deficit. We, the undersigned economists, strongly urge voters not to re-elect Donald Trump on the following grounds: NOTE: Institutions are listed for identification purposes and should not be viewed as signatories to the letter.

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