Biden’s Failed Economic Agenda

JOBS ARE COMING BACK IN SPITE OF BIDEN AND DEMOCRATS, NOT BECAUSE OF THEM

The October jobs report provides little consolation to the American families, workers, and small businesses struggling in the Biden economy.
- More than four million Americans who lost their job during the pandemic have yet to get it back.
- Americans are increasingly struggling to afford basic needs like groceries and gas, and shelves are now going empty due to Biden’s supply chain crisis.
- Despite Biden’s false claim that the economy is recovering “faster” than expected, GDP growth suffered a “sharp deceleration” in the third quarter.
Just as workers are getting back on their feet, Biden announced a vaccine mandate that threatens the livelihoods of millions of Americans, exacerbating the supply chain crisis and driving up costs.
- One poll found that seven in ten unvaccinated workers would likely quit their jobs rather than adhere to the vaccine mandate.
Even as these jobs are being threatened, Democrats are trying to ram through a bloated, multitrillion-dollar spending bill that includes massive tax cuts for wealthy blue state residents.
Now that Democrats are no longer championing a policy that pays Americans not to work, it’s unsurprising that more Americans are returning to the workforce.

HIGHER PRICES ARE HERE TO STAY

Americans are paying more for just about everything, with Biden’s favorite economist Mark Zandi saying inflation is costing the average American family $175 per month, or $2,100 a year.
Prices continue to climb despite Biden’s out-of-touch claims that inflation is temporary and his Chief of Staff Ron Klain’s claim that it is only a “high class” problem.
Key inflation indicators – producer prices, consumer prices, and core personal consumption expenditures (CPCE) – show higher prices are here to stay under Biden.
- Compared to last year, consumer prices increased by 5.4 percent, producer prices rose 8.6 percent, and the CPCE index spiked by the fastest rate in 30 years.
Energy prices are a “higher tax” on working Americans while crude oil, natural gas, and coal prices have all sharply increased.
Housing prices are up 20 percent, a record high, with home prices expected to climb another 16 percent by the end of 2022.

BIDEN'S VACCINE MANDATE WILL WORSEN THE SUPPLY CHAIN CRISIS AND THREATENS WORKERS

To add to Biden’s list of failures, Biden announced an unconstitutional vaccine mandate threatening the jobs and livelihoods of Americans across the country.
Biden’s mandate would affect more than 100 million Americans, stifle small businesses struggling with the supply crisis, and worsen labor shortages.
- The National Retail Federation said this mandate would “exacerbate the preexisting workforce shortage.”
- The National Federation of Independent Business said it would “threaten the fragile small business recovery.”
- Trucking industry leaders warn that they “will lose more than a third of their drivers” if the mandate goes through.
Reports show that 72 percent of unvaccinated workers will leave their jobs if they are required to get vaccinated.
- This means up to 9 percent of current workers would leave their jobs.
Already, the strict vaccine requirements imposed by Democrat Mayor Bill DeBlasio in New York City have shown this devastating policy in action, leading to the furlough of 9,000 city employees in one day.

REPUBLICAN-LED STATES ARE LEADING THE RECOVERY

Biden deserves no credit for the jobs recovered – he paid Americans not to work for months and stifled economic growth.
- For two out of the past three months, the economy added far fewer jobs than expected.
Republican-led states are the ones creating jobs and leading the economic recovery.
- Through September, 17 of the top 20 states for recovering jobs from the pandemic are led by Republican governors.
- The top 11 states with the lowest unemployment rates are all Republican-led, while the eight states with the highest unemployment rates all have Democrat governors.

DEMOCRATS’ PLAN: BUILD BACK BILLIONAIRES WITH A TAX CUT FOR THE RICH

Biden and Democrats want to spend nearly two trillion on their Build Back Broke agenda, slamming the middle class while giving tax cuts to the rich.
The Democrats’ tax-and-spending spree will kill jobs, lower workers’ wages, and shrink the economy.
- 80 percent of taxpayers will see their incomes reduced.
Meanwhile, the costliest part of this radical bill is a $300 billion tax cut, with 80 percent of the benefits going to those making more than $200,000.
Biden is lying to the American people when he claims this nearly two trillion spending spree will “lower inflationary pressures on the economy.”
Numerous economists have warned that more spending could lead to even higher inflation which will make life harder for poor and middle-class Americans.