At a recent rally in New Hampshire, former President Donald Trump’s rhetoric promised an “economic boom” that would occur immediately after he wins the presidency in 2024. Under the scenario that Trump loses the election to Joe Biden, he predicts an economic catastrophe comparable to the Great Depression, according to prepared remarks obtained before the rally.

“The next economic boom will begin the instant the world knows that Crooked Joe Biden is gone, and Donald J. Trump has won four more years as president of the United States,” Trump was set to tell a crowd of his supporters in Durham, New Hampshire.

According to his prepared rhetoric, Trump promised his supporters by the end of next year, he would have the U.S. economy back on track while simultaneously securing the southern border. The former president also suggested his job as president was the only thing preventing the economy from already being in a severe recession.

“Powered by the momentum of our historic victory, by Christmas next year, the economy will be roaring back, energy prices will be plummeting, the hordes of people charging across our border will have ended—the invasion will have stopped,” he expected to state.

“The Biden administration is running on the fumes of the great success of the Trump administration—without us, this thing would have crashed to levels never seen before, and if we are not elected, we’ll have a Depression very much like the Depression of 1929,” Trump planned to say.

“While the stock market is making the rich richer, Biden’s Inflation catastrophe is demolishing your savings and ravaging your dreams,” according to the prepared remarks. “Not one thing has gotten better under Crooked Joe Biden,” he is set to say. “Under the Trump administration, you were better off, your family was better off, your neighbors were better off, your communities were better off, and our country was better off.”

Throughout Biden’s presidency, Americans have faced challenging economic conditions to say the very least. Over the past couple of years, inflation has soared to historical highs, where the Consumer Price Index reached a near four-decade high in 2022. Consumers have had their spending power devoured by these price increases, while everyday goods from groceries to gasoline skyrocketed in price.

Moreover, the Biden administration was heavily criticized for its policies and fiscal spending amid the heightened inflation levels. Conservatives and Republican politicians have slammed the Biden administration for ignoring the advice of reputable economists that trillions in fiscal spending would exacerbate inflation.

Moreover, among the most painful expenses Americans had to endure in 2022 were sky-high energy prices, perhaps most felt through gasoline prices at the pump. Accordingly, Biden’s stance on the domestic fossil fuel industry was a major criticism. Many suggested that if he encouraged American oil production instead of disincentivizing it through regulation, the country would be less vulnerable to the volatile swings caused by the global supply and demand of the commodity.

In response to inflation, the Federal Reserve has been on an aggressive interest rate hiking campaign to slow the economy and cool prices. Many predict the full effect of this high-interest macroeconomic environment could fully materialize next year, possibly causing a sharp contraction in the U.S. economy.