Trump: Stock market nearly recovers to pre-coronavirus levels
Trump took thinly veiled shots at his 2020 rival Joe Biden
President Trump said the United States is almost back to pre-pandemic levels "from the standpoint of the stock market" while touting his administration's economic recovery efforts and taking thinly veiled shots at his 2020 rival Joe Biden.
President Donald Trump swings a baseball bat during the Spirit of America Showcase at the White House, Thursday, July 2, 2020, in Washington. (AP Photo/Evan Vucci)
"We built the greatest economy in the history of the world, and we’re now doing it again," Trump said at the White House "Spirit of America" showcase on Thursday. "I think we’ll do even better the second time than we did the first time, unless somebody comes along and says let’s raise taxes on everybody."
MILLIONS OF TAXPAYERS AWAITING REFUND FROM IRS COULD FACE 'EXTREME DELAYS'
Trump said he is concerned about what the economic consequences of new taxes might be.
"They’re raising taxes not only on corporations, they will just go to another country and they will do just fine, but they’re raising taxes on people and middle-income people and they’re losing jobs. ... It might even be a 1929 situation," he said referring to the year in which the Great Depression began.
Trump pointed to a record surge in retail sales and the stock market's biggest rally ever that hit 50 days in June.
CLICK HERE TO READ MORE ON FOX BUSINESS
"In a pandemic, we're almost even with where we were before the pandemic started, and nobody would have said that was possible," he said.
However, the unemployment rate is still in the double digits as coronavirus jobless claims now top 48 million.
GET FOX BUSINESS ON THE GO BY CLICKING HERE