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Biden Brags About 'His' Economic Recovery
[ISSUESINSIGHTS] As TV screens showed the Dow Jones tumbling on inflation and renewed COVID fears, President Joe The Big GuyBiden  ...46th president of the U.S. Old, boring, a plagiarist, fond of hair sniffing and grabbing the protruding parts of women, and not whatcha call brilliant... or is that an act?... took to the podium Monday to brag about how great the economy is doing and why he deserves all the credit. It was a remarkable act of prestidigitation for such an old man. Biden said that "it’s true that the economy was sputtering before I got here." That’s provably false. He said that: "We’ve gone from 60,000 jobs per month to ... more than 600,000 jobs per month since I took office." That’s grossly misleading. He went on to boast that: "Look, we’ve brought this economy back from the brink." That is a bald-faced lie. Biden’s intent with his remarks is to argue that his $1.9 trillion "rescue" bill saved the economy, and the even bigger spending bills he wants Congress to pass will keep it going. No one should believe a word of it. Take his claims about jobs. It is true that the average job gain in Donald Trump ...Perhaps no man has ever had as much fun being president of the US... ’s last three months in office averaged 60,000. But Biden is seriously cherry-picking his data. The average monthly job growth from April 2020 to January 2021 was 1.5 million. That’s the average. Per month. The labor market had regained 60% of the jobs lost by the time Trump left office. Compared to that, the 600,000 monthly job gains under Biden looks paltry. Job growth was so fast in Trump’s last nine months in office that the unemployment rate plunged from 14.8% in April 2020 to 6.3% by January 2021. That was far below what the economic experts Biden loves to quote had expected. By comparison, the unemployment rate under Biden has gone down only three-tenths of a percentage point, from 6.2% in February to 5.9% in June (which was up from May’s 5.8%). Posted by: Fred 2021-07-21 |
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