Washington, DC (December 3, 2021) – Today, President Biden delivered a speech on the economy following the November jobs report.
“Biden’s remarks on the November jobs report today seem to show an alarming trend of his administration, complete delusion concerning the actual state of the economy. Biden continually pats himself on the back as if he’s delivering new levels of American prosperity, when in reality he inherited one of the strongest V-shaped recoveries in modern history, and his administration has failed to come close to returning the thriving pre-pandemic economy we once had.
It’s time to give Biden a reality check:
“Biden touted the ‘significant improvement’ in created jobs since he took office, yet chooses to ignore the fact that we are still 4 million jobs behind pre-pandemic numbers. Today’s jobs report showed there are still 6.9 million Americans unemployed. The number of those who currently want to work but can’t find work is a stagging 5.9 million. It’s worth noting, the Bureau of Labor Statistics does NOT count those 5.9 million looking for work among the 6.9 million currently unemployed since they are actively looking for a job.
“Biden also implied that American wages are up, even after accounting for rising prices. That is factually not true. Today’s jobs report shows that average wages increased by 4.8% year over year. Yet inflation, as measured by the Consumer Price Index (CPI), is increasing by 6.2% year over year. American’s are making less because of the ‘Biden Pay Cut.’
“Another area that Biden gave himself an undeserved pat on the back for was a ‘significant’ decrease in the price of gas. The DCCC recently put out a misleading graph, thanking Biden for what looks like a large decline in gas prices since releasing the Strategic Petroleum Reserve. The graph, which measured prices in increments of $0.005, was meant to look impressive but showed the price of gas has only gone down by 2 cents. The CPI shows that the price of gas is up 50% over the last year, and the cost of oil to heat homes has risen nearly 60%. Not what I or any American would call ‘significant.’
“When discussing his Build Back Better bill, Biden repeated his misleading promise not to raise taxes on Americans earning less than $400,000 a year. This promise has already been broken if you consider the impact of inflation that acts as a regressive tax on ordinary earners and entrepreneurs. Even the left-wing Tax Policy Center projects that 20 to 30 percent of middle-class Americans, including small business owners who file as pass-throughs, will see their taxes increase under his plan.
“Today’s press conference was a stark reminder of how disconnected Biden is from economic reality. It isn’t surprising that a man who spent nearly a half-decade in politics can recite liberal rhetoric from a teleprompter while being oblivious to the impact of his administration’s ‘War on Small Business.’”