Posted on 09/18/2023 9:47:39 AM PDT by John Semmens
Treasury Secretary Janet Yellen contrasted "the robust US economy that has characterized President Biden's two plus years in office with the dismal Trump years. The lockdowns cost tens of millions their livelihoods. Businesses were ordered shuttered. Many laid off employees others went bankrupt. In the summer of 2020 the unemployment rate was 14%. Now it is less than 4%. Bidenomics has surpassed MAGAnomics by a wide margin. This is quite a feather in the President's cap."
From a different perspective, the economy doesn't look as good as Yellen says it is. The inflation injected into our economy by Biden's spending binge means that what could be bought for $857 in January of 2021 now costs $1,000. More than 60% now live paycheck to paycheck. To cope, many are working longer hours, reducing their standard of living, using credit cards, or dipping into retirement savings. Credit card debt--the kind that typically has an interest rate of over 20%--has surged from $743.5 billion in early 2021 to today's $1.031 trillion. Working more to stay in place or accepting a lower standard of living are a consequence of Bidenomics. The touted 3.8% unemployment rate doesn't account for discouraged workers. Accounting for these puts the current unemployment rate at 6%.
Nonetheless, former Secretary of State Hillary Clinton called Bidenomics "as impressive an accomplishment as I've seen by a president since Bill was in office. Any Democrat who helped enact the Biden agenda should be proud to run for reelection. As more and more voters come to recognize what he has accomplished, I expect President Biden to win by a bigger margin than he did in 2020, especially if he adds a more credible successor like myself to the ticket as his VP running mate."
If you missed any of the other Semi-News/Semi-Satire posts you can find them at...
https://www.gopbriefingroom.com/index.php/topic,512623.0.html
Yellen “Feeling Very Good” About Economy.
It’s the mushrooms working Jim.
I’d be willing to bet that Yellen “feels very good” a lot.
Yellen is way too short to even see what’s on the table
Half a bottle of whiskey and I feel good, too.
“Treasury Secretary Janet Yellen contrasted “the robust US economy that has characterized President Biden’s two plus years in office with the dismal Trump years.”
Which side of her mouth was she talking out of this time?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.