Jing Economists expected the economy to add about 720,000 new jobs in August. It only added a measly 235,000, a miss of nearly 500,000 jobs. Not surprisingly, Joe Biden and his allies in the press are not only actively looking to blame circumstances and former President Trump for their economic woes — but even trying to spin the report to make it look better than it actually is.
The acting president is trying to use his mismanagement of the nation’s economy to show that America needs his additional taxes on the wealthy as well as his multi-trillion, budget-busting infrastructure bills.
The Delta mutation of the COVID-19 pandemic has been heavily blamed for the Biden Administration’s failure to get the economy going. While it’s true that the rise in COVID cases is causing some to drop out of the labor market, current statistics also show that the states that cut additional federal aid to jobless individuals back in June 2021 have a far lower unemployment rate than many blue states that continue to pay people more to stay home.
In Utah and South Dakota, for instance, the jobless rate is less than 3 percent — far lower than the national rate of 5 percent. In GOP-controlled Georgia, Oklahoma, Alabama, Montana, and North Dakota, the jobless rate is less than 4 percentage t. Democrat-controlled California and New York, on the other hand, have a jobless rate of 7.6 percent.
Biden also sought to blame former President Trump for the current state of the economy, telling viewers to “imagine if the other guy was here.” The problem is that most people remember what the economy was like under President Trump prior to the pandemic. The jobless rate was at historic lows, fuel was cheap, and the economy and stock market were both booming.
Many Americans also know that it was the Democrats who stoked inflation with the passage of the massive American Rescue Plan Act. At a time when goods are in short supply, giving people free money is a recipe for disaster but the Biden Administration not only failed to heed the warning signs at the time but continues to push for massive injections of cash into a faltering economy that continues to reel from shortages and rising costs.
President Biden likes to point to “steady job growth” as a sign that he is managing the economy well, but most people can see past the facade. Disappointing jobs reports have been a hallmark of his tenure. Inflation has wreaked havoc on Americans of all ages and walks of life. While economic problems would be expected in the wake of a global pandemic, the Biden Administration has made the problems worse through mismanagement and a push to pass progressive legislation.