President Joe Biden has once again tried to spin the numbers, claiming that the United States economy is the “strongest in the world” as the latest jobs report shows an addition of 353,000 jobs last month. But don’t believe the hype coming from the White House!
In a statement, Biden bragged about the “strong wage gains and employment gains” in January, touting the creation of 14.8 million jobs since he took office and the unemployment rate staying under 4% for the past two years. He also mentioned that inflation has been at the pre-pandemic level of 2% over the last half year. However, the reality is not as rosy as he’d like you to believe.
Sure, the economy may have beaten expectations for January, but let’s not forget the big picture. Despite Biden’s attempt to take credit, it’s important to note that the labor market’s strength has been resilient for years. This success is due in large part to the policies put in place by the previous administration.
Despite the positive numbers, it’s clear that many Americans are not buying into Biden’s economic boasts. His approval rating on the economy remains at a dismal 37.9%, according to the RealClearPolitics polling average. It’s no surprise that people are skeptical of “Bidenomics” when they see through the hollow victories he tries to take credit for.
It’s not just the public that’s calling out Biden’s economic exaggerations. The Republican National Committee (RNC) has pointed out that real wages are still down 2.5% since Biden took office, thanks to the soaring inflation that has hit American families hard. RNC’s Tommy Pigott highlighted that the fall in weekly hours indicates that workers are actually taking home less money each week.
So, while Biden may try to paint a rosy picture of the economy, the truth is that his policies have failed to deliver real benefits to hard-working Americans. As the 2024 election looms, it’s clear that the American people will remember the reality of their financial struggles, rather than the empty promises coming from the Oval Office.