WASHINGTON – Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement on the July jobs report:
“Bidenomics is simple: you pay more to get less. Families and small businesses, who are already failing to keep up with sky-high prices and falling real wages, are left to foot the bill as Biden bounces from vacation to vacation avoiding any accountability or responsibility for his failed economy. Come next fall, Americans will choose commonsense over crazy and vote Biden out.”
Background:
- The U.S. economy added 187,000 jobs in July – coming in lower than economists’ expectations for the second month in a row.
- Revisions subtracted 49,000 jobs from May and June – following the trend of payroll numbers being revised lower every month of 2023.
- Additionally, the nation lost 2,000 manufacturing jobs last month.
- Biden’s economic agenda is decimating Americans’ finances – the average middle-class household has lost over $33,000 in real wealth in just the past year.
- Prices have risen by 16.6 percent since Biden took office – with Americans still reeling from the lasting effects of inflation.
- Meanwhile, as Americans struggle to get by, Biden and Democrats not only caused inflation but are threatening to make it worse.
- U.S. average gas prices currently sit at $3.83 per gallon which is more than $1.40 higher than when Biden became president.
- The U.S. was recently stripped of its top credit rating, with the downgrade coming just months after Biden and congressional Democrats took the country to the brink of default and amid an increasingly unsteady economic path.
- The Fed recently hiked interest rates for the 11th time since March 2022 – now at their highest level in 22 years – making it harder for families to buy a home, finance a car, pay off debt, and perform various other financial transactions.
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