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As we head toward the first presidential debate on Tuesday, two things are true. The U.S. economy, as measured by gross domestic product, is in decline. The second thing is that, as proven by the latest Latino Donor Collaborative U.S. Latino GDP Report,<\/a> the world\u2019s leading growth economy is right here in America. Now the question is, will Joe Biden or President Donald Trump leverage this advantage?<\/p>\n Even before the coronavirus<\/a> struck, the economy was in trouble. Workforce growth rate has been in decline<\/a>; small businesses continue to struggle, the number of people employed in manufacturing<\/a> has declined; family farm bankruptcies are at an eight-year high<\/a>; real wages for American workers have barely budged<\/a>; and we\u2019re even losing in the trade war as China\u2019s trade surplus with the U.S. has grown almost 25 percent since Trump became president<\/a>.<\/p>\n As we look ahead, we need to talk about how to catalyze our economy and return to the growth we have experienced in the past.<\/p>\n<\/div>\n In contrast, some of our strongest GDP growth occurred during the Reagan years<\/a>. President Ronald Reagan understood the value of encouraging investment in areas of growth and welcoming immigrants to supplement our existing workforce so we could increase goods and services production while creating more jobs. During President Bill Clinton’s administration, GDP growth was even higher. Trump was not on track to match either president<\/a>, even before Covid-19 hit.<\/p>\n So as we look ahead, we need to talk about how to catalyze our economy and return to the growth we have experienced in the past. How do we do that? By leveraging the cohort that is growing dramatically faster than all others, creating new businesses at a faster pace, employing millions of Americans, supplying the most productive labor force and leading consumption. That is the U.S. Latino cohort, which has become, right here within our own country, a world-leading economy.<\/p>\n The new Latino Donor Collaborative U.S. Latino GDP Report shows the U.S. Latino cohort is already equivalent to the eighth largest economy in the world<\/a>. In fact, according to the report, U.S. Latino GDP is now at $2.6 trillion, an 8.7 percent growth rate from 2017 to 2018. That\u2019s a growth rate outpacing India and China. Given its trajectory, U.S. Latino GDP is poised to surpass France, the U.K. and India \u2014 possibly within the next five years.<\/p>\n