By Duncan Smith
The U.S. economy was set to rocket to new heights after COVID subsided.
Under President Donald Trump, that is.
In three years time, the Trumpster’s economic and trade policies grew our GDP at a record pace.
Businesses were hiring faster than Americans were entering the labor market.
They were expanding. Their profits were soaring. We were energy-independent.
Then the Democrat-aligned deep state stole Trump’s reelection and now we’re left with an anti-economy.
Inflation is rising.
Our energy independence is fleeting.
And the jobless rate is going up, not down, even as employers are begging people to come work for them amid a post-COVID reopening.
The Wall Street Journal notes:
The number of Americans receiving jobless payments fell this month to the lowest level since early in the coronavirus pandemic, but first-time applications rose as supply constraints persist in the auto industry.
Continuing payments made through all unemployment benefit programs fell by 1.3 million in the week ended July 3, to 12.6 million, the Labor Department said Thursday. That was the lowest level since late March 2020, when new programs responding to the pandemic first came online.
In recent weeks about half of states have acted to end enhanced and extended unemployment benefits. The end of pandemic programs in Texas drove the latest decrease.
The Daily Wire adds:
New jobless claims saw another unexpected spike last week.
The most recent Department of Labor data revealed 419,000 claims for the week ending on July 17 — an increase in 51,000 from the previous week's levels that again exceeds economists' predictions.
'The expectation is that this will spur more job-seeking among unemployed Texans as demand for labor improves,' PNC Financial Services chief economist Gus Faucher told The Wall Street Journal. 'Many employers have said that they would like to hire, but that the supply of workers has not kept up.'
That’s because Democrats put outsized unemployment benefits in the last COVID ‘relief’ measure, so millions of Americans are making more on taxpayer money than they would by getting a job — the exact wrong policy to put in place if you’re trying to recover from a pandemic and get people back to work.
Face it – Biden and the Dems don’t want America to do well. They want America to fail so they can implement complete control and authoritarian Marxism.
Why else would you enact such economically destructive policies?
Biden's inflation is GETTING WORSE by the month...
Around the world, supply chains continue to be disrupted. Delays are now commonplace. And they're going to get worse.
There IS a financial reset coming - that's just true. All the signs indicate as much.