Biden and the Democrats Bungle Economic Recovery

Biden and the Democrats Bungle Economic Recovery

Joe Biden’s economic policies are failing the American people. He has sent inflation skyrocketing, incentivized unemployment and hopes to finance his massive spending proposals through massive tax increases and additional debt. This is a recipe for disaster and workers deserve better.

July 9, 2021
Biden and the Democrats Bungle Economic Recovery

The Biden-Harris administration, along with Democrats in Congress and in the states, continue to mismanage the economic recovery. While red states are rebounding quickly, blue states and Democrats in D.C. are preventing a full return to pre-pandemic levels of employment and economic activity.

In the 24 states that have ended expanded unemployment benefits, people are returning to work more quickly and life is getting back to normal.

Wall Street Journal: Among 24 states that have announced a June or July end to supplemental unemployment insurance benefits, the average unemployment rate in May was 4.4%. The rest of states and the District of Columbia set a later end to the program in September. The jobless rate on average in those states was 6.0% in May. . .”

On Thursday, the Labor Department announced that unemployment claims unexpectedly rose, another indicator that Biden’s dangerous economic agenda is slowing growth. The previous week’s report was also revised up.

CNBC: First-time jobless claims totaled 373,000 for the week ended July 3, compared with the 350,000 Dow Jones estimate. The previous week’s level was revised up by 7,000 from 364,000 to 371,000.

Bottom Line: Joe Biden’s economic policies are failing the American people. He has sent inflation skyrocketing, incentivized unemployment and hopes to finance his massive spending proposals through massive tax increases and additional debt. This is a recipe for disaster and workers deserve better.