Home Agenda Experts slam Biden’s economic agenda after June jobs report

Experts slam Biden’s economic agenda after June jobs report


Thomas catenacci

Pundits have slammed President Joe Biden’s economic agenda following a positive jobs report in June, which they say renders his massive spending unnecessary.

Biden should immediately end the federal unemployment premium linked to the pandemic and stop pursuing costly legislation that will harm future generations, experts said. While the economy has created more than 3 million jobs since January, the number of job vacancies remains at an all time high, according to the Ministry of Labor.

“With a record number of job vacancies, a record number of workers leaving their jobs and a record number of laid-off workers, there is no reason to spend even a dime on calls it “job creation packages”. Rachel Greszler, a researcher at the Heritage Foundation Grover M. Hermann Center for the Federal Budget, said in a statement on Friday.

“Instead, policymakers should refuse to put young and future generations into debt and relieve them of the cost of unnecessary unemployment benefit premiums by immediately ending these programs,” she continued.

Related: ‘Let Them Eat Cake’ Biden’s Policy Putting 16 Cents Back in Your Pocket, Gas Prices Up 42%

Greszler noted that the federal unemployment program is rife with fraud and abuse. Americans are paying for errors due to the inefficiencies and lack of oversight of the program, she said.

The US economy created 850,000 jobs in June, according to data released Friday. Economists expected a lower figure.

In the wake of the report, Biden and Labor Secretary Marty Walsh celebrated the positive economic growth, but again pushed the administration’s $ 2 trillion jobs plan. Biden said it was time for the United States to “accelerate the progress we have made” during his remarks Friday morning.

The White House has proposed new spending programs worth around $ 6 trillion.

“President Biden is pushing a tax and spending plan under the guise of a jobs plan,” Alfredo Ortiz, president and CEO of Job Creators Network, said in a statement after Biden’s speech. “We don’t need an employment plan. We have more jobs available than people to fill them.

“We need policies that don’t put small businesses in competition with government for work,” Ortiz added.

Chamber of Commerce CEO Suzanne Clark described employers’ inability to find skilled workers as the biggest problem the economy is currently facing in an interview with CNBC on Friday. Clark blamed the labor shortage on generous and ongoing unemployment premiums.

Heritage Foundation researcher Joel Griffith pointed out that economic growth has been concentrated in states that have pulled out of the federal unemployment program which gives unemployed Americans $ 300 a week and does not expire until September. Twenty-five states, mostly Republicans, announced they would end the program after a meager employment report in April and a growing shortage of workers, Fox Business reported.

“According to Federal Reserve data, the seven best performing states in overall economic conditions since the start of the pandemic have already opted for federal unemployment premiums, while the seven worst performing states continue to provide these premiums.” Griffith said in a statement.

“These best performing states have actually increased by more than 1% from their pre-pandemic levels, while the seven worst performing states have seen declines of more than 6%,” he said. for follow-up. “The right political solutions are obvious. “

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