Presidential debates are mostly about style, not substance; the intended audience isn’t economists, but wavering voters. Last week’s debate was a case in point: President Biden’s disastrous performance led to calls for him to drop out of the race, recasting the election campaign. But substance still matters, and the debate left wavering voters without a clear case for either party on the economy.

       Much of what former President Donald Trump said was hyperbolic or wrong. “We had the greatest economy in the history of our country" before Covid hit, he claimed. Unemployment and inflation were indeed low. But Presidents Barack Obama, George W. Bush and Bill Clinton all enjoyed stretches of growth in economic output, jobs and real (after inflation) wages that were as good as or better than Trump’s first three years.

       Hi! You’re reading a premium article from The Wall Street Journal! Subscribe now for uninterrupted access Subscribe now Already subscribed? Login

       Premium benefits

       30+ articles from print edition and premium publication daily

       Present across social media apps to keep you updated

       In-depth Market Reports from leading experts

       Most loved Mint podcasts on 35+ topics

       Sharp insights supported by simple data and visuals

       Unlock 30+ well researched

       and bias free premium articles daily

       Access to global insights with

       100+ exclusive articles from

       international publications

       Get complimentary access to

       3+ investment based apps

       TRENDLYNE Get One Month GuruQ plan at Rs 1

       FINOLOGY Free finology subscription for 1 month.

       SMALLCASE 20% off on all smallcases

       5+ subscriber only newsletters

       specially curated by the experts

       Free access to e-paper and

       WhatsApp updates

       Not convinced yet?

       Share your contact details and

       we will get in touch with you…

       = 48 && event.charCode Confirm

       Thanks for sharing your number