Posted on 04/26/2024 6:52:18 AM PDT by ChicagoConservative27
On Thursday’s broadcast of the Fox Business Network’s “Cavuto: Coast to Coast,” White House Council of Economic Advisers Chair Jared Bernstein stated that even with the latest GDP report, we “really haven’t seen much in terms of slow growth yet.” And the job market is “really what matters to people, you don’t eat GDP, your paycheck matters most.”
Bernstein said, “We really haven’t seen much in terms of slow growth yet. Let’s talk about the job market, because that’s really what matters to people, you don’t eat GDP, your paycheck matters most. And there, you’ve seen growth continuing to defy expectations to the upside, stronger job numbers than have been expected, and again, an unemployment rate that’s been below 4% for over two years. That’s generating real wage gains. On the GDP front, this president has a 25-year record when it comes to real GDP growth. So, I think probably one thing you may be referring to is a kind of downshifting that has to happen as you grow at a breakneck pace out of the pandemic-induced recession, we have to settle back into more steady, stable growth, and I think that’s one of the things you’re seeing in reports like the one this morning. But in terms of growing at least at or above trend, if you look at at least the year-over-year measure, 3% for this GDP, and the job market numbers I just cited, the economy remains strong, solid, on a steady, stable path.”
(Excerpt) Read more at breitbart.com ...
Did Cavuto kiss his arse and thank him for enlightening him?
Utter BS.
But due to the true pandemic, it’s working on those for whom it is intended.
And the focus group says.................
The amount of money they are spending on focus groups must be amazing.
And a lot of folks now get two paychecks, one from each part-time job. Thanks Brandon!
This is for public consumption; for people who don’t know much of anything about economics ... people like Paul Krugman of the NYT (who may have contributed to this delusion).
BS’ing on both counts. Won’t matter. People see their actual paychecks, actual rent/mortgage payments, and actual grocery bills, and determine how the economy is doing based on those real metrics. 90% of the population pays no attention to things said by the talking heads about the economy.
“paychecks”
“sitting around the kitchen table discussing community college and listening to the radio” (Biden)
These elitist snobs are really condescending…thinking they have the superior right to rule the little people they see as from Norman Rockwell paintings, who depend on democrats to manage their lives …as long as those “ paychecks” keep coming
“”this president has a 25-year record when it comes to real GDP growth.””
Oh! My gosh - have I been asleep all this time? I would have sworn this jerk just became president in 2021...
According to AOC, people working two jobs is why unemployment is so low.
Paychecks relative to the cost of living matters, not just the paycheck. High inflation is still here no matter what the geniuses say.
What he meant was that Biden has been in favor of real GDP growth for 25 years.
It is axiomatic that wage inflation lags price inflation.
The Biden problem is that the lag period is taking place in the final year of his term.
Big Labor in the form of the UAW triumphed against the Big Three auto manufacturers by extracting unearned wage growth. The horrendous general inflation caused the Fed to raise interest rates to the point where buyers can’t afford to buy the now wildly overpriced products that must be financed at an exhorbient rate.
The end of Biden is going to result from the collapse of the auto business and the banks left holding the bag full of repossessed automobiles.
July and August are going to be economically interesting
Exactly. You summarized that reality brilliantly.
Amercans, even ignorant , detached ones don’t need to read between the lines to determine reality, the way Soviet citizens had to do in order to divine the truth.
They need only to try to pay their bills.
Of all the things I find repulsive and repellent about the current government, particularly the Biden White House, is this open and unabashed gaslighting.
They know damn well what the score is. This asinine stupidity is all Leftist politics.
Tell the lie. Tell it often. Tell it convincingly.
Gee. Where have we heard that before?
It's about what the paycheck can buy. For certain...Housing is out for many now...And there are multiple industries attached to housing...
It doesn’t matter much if inflation today is 3% if prices skyrocketed 35% in the past three years. Those prices aren’t going down. And nobody’s income went up 35% to cover what he did.
Not to mention the horrific condition of Commercial Real Estate. I’m surprised more banks haven’t been wiped out by the flood of bad CRE loans.
Trump will translate this nonsense into words ordinary people understand in his rallies: “You’re poorer under Sleepy Joe than when I was President “.
It’s the inflation, stupid!
It’s the gas prices, stupid!
It’s the grocery prices, stupid!
It’s the higher auto insurance rates, stupid!
It’s the much higher mortgage rates, stupid!
It’s the much higher rests for housing, stupid!
It’s the no-longer affordable homes, stupid!
It’s the much-higher home insurance, stupid!
It’s the much higher prices for eating out, stupid!
It’s government spending gone out of control, stupid!
It’s the spending to pay for student loans, stupid!
It’s the stupidity of government that’s unaccountable to the people, stupid!
Stupid! Stupid! Stupid!
It’s about the constant lying to the people, stupid!
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