Posted on 01/19/2023 11:00:15 AM PST by Kaiser8408a
I watched Biden’s Press Secretary Karine Jean Pierre giving Biden credit for the lowest unemployment rate in US history thanks to his economic policies. And Biden mentioned that he inherited a terrible economy from Trump.
Hmmm.
Let’s let the data talk.
Covid was horrific (I almost died from it), but it was the government response to Covid there was disastorous. Government shutdowns (and the masking of the populace) killed off numerous small businesses and sent jobless claims soaring in 2020 (white line) and U-3 unemployment rate rose to the highest level since The Great Depression.
The response from The Federal Reserve was a massive printing of money (green line). And after governments stopped their economic shutdowns (coupled with massive money printing), we saw jobless claims and unemployment shrink rapidly BEFORE Biden took office as President.
The 1981 recession begat an epic borrowing of money by The Federal government (under House Speaker Tio O’Neill D-MA) and we saw another explosion in Federal debt under House Speaker Nancy Pelosi D-CA TWICE, once in 2009 following the financial meltdown and again in 2020 following the Covid economic lockdowns.
The US did get positive wage growth under Biden, but due to inflation, American workers have experienced 21 straight months of NEGATIVE wage growth.
When you look at the data, Trump actually set in motion the jobs recovery, not Biden. Other than helping to create inflation, I can’t think of one positive thing Biden has done for the economy.
On an unrelated note, why is US FBI Director Chris Wray at the World Economic Forum in Davos Switzerland when there is a top secret document fiasco going on in DC and Delaware?
(Excerpt) Read more at confoundedinterest.net ...
What post-COVID recovery?
If anyone is really interested in lowering unemployment they’ll get rid of all kinds of welfare.
Best answer on job growth is all of the above. Trump tax cuts. Powell free money. Biden the low hanging fruit coming out of the shutdowns. For Powell and Biden, the bill is coming due.
Edit: Pelosi record spending.
Let’s give credit where credit is due:
The Grim Reaper........................
um... when you FORCE everyone to close by threat of law you can’t “claim credit” when you allow people to re-open their businesses!
Bingo gringo.
Precovid, Trump was hitting almost a trillion a year deficits. It exploded even more in his last year. Stimulus check after stimulus check. Who do you think helped fund blm and their causes, stimulus payments. There was gonna be inflation once lockdowns ended, no matter who was in charge.
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