Job Creators Network Responds to President Biden’s WSJ Op-ed
Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to President Biden’s new Wall Street Journal op-ed:
“Biden played his greatest hits record of misleading economic claims on inflation, wage growth, and job creation in his Wall Street Journal op-ed. Inflation remains persistently high at around 2.5 times the Federal Reserve’s target rate. According to the most recent reading of the Fed’s favorite inflation indicator, prices are accelerating once again. This historic inflation that is a result of Biden’s reckless spending has caused average real wages to decline for 26 consecutive months. Biden’s job growth 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 remains well below the pre-pandemic peak.
“In reality, the economy is sputtering, mired in stagflation after barely coming out of a recession during the first half of last year. According to Job Creators Network’s latest SBIQ 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 recession, stagflation, and declining living standards.”