About Your Economic Record, Mr. President
Mr. Biden plays his greatest-hits record of misleading economic claims on inflation, wage growth and job creation. In reality, our inflation, which was a result of Mr. Biden’s reckless spending, remains persistently high. It has caused average real wages to decline for 26 straight months. His job-growth figure has been buoyed by the millions of backfilled jobs that were temporarily lost during the pandemic. He doesn’t deserve credit for these. Labor-force participation is well below the prepandemic peak.
The economy is sputtering, mired in stagflation after barely coming out of a recession during the first half of last year. According to our latest poll, nearly two-thirds of small businesses are concerned that the poor economic conditions will force them to close. The real story of the Biden economy is stagflation and declining living standards.
CEO, Job Creators Network