The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

President Joe Biden

The economy added 807,000 private-sector jobs in December, more than double what economists had forecasted, providing more grist for claims that President Joe Biden's American Rescue Plan is boosting economic recovery.

Economists polled by the Wall Street Journal predicted only modest gains of 375,000 jobs. But the ADP Employment Report, released Wednesday morning by the payroll company, signaled the economy's second-highest private jobs tally since May. Last month, private-sector jobs grew by 534,000.

The White House cheered on the news, pointing to the report as more evidence of a Biden economic boom."December was another month of strong private sector job growth," White House chief of staff Ronald Klain wrote on Twitter. "The American Rescue Plan has bolstered our economy, even in the face of COVID."

Robert J. Shapiro, a columnist for the Washington Monthly who worked as an economics adviser for both the Obama and Clinton administrations, wrote in December that few have noted the "Biden boom," even as Biden has overseen the largest real GDP growth rate in the century. During the first three-quarters of 2021, real GDP increased at almost eight percent annually, compared to an average rate of 2.2 percent growth from 2000 to 2019.

A December report from the Roosevelt Institute found that Biden's signature legislative accomplishment, a $1.9 trillion COVID stimulus bill passed in March called the American Rescue Plan, spurred massive job growth while protecting the economy from the pandemic's worst ill effects.

"We're entering 2022 in a position of a unique economic strength: Six million new jobs — a record number for a new President — have been created since January last," Biden said Monday. "Unemployment is down to 4.2 percent, three years ahead of predictions. New small-business applications are up over 30 percent compared with before the pandemic. And the fastest growth in America in nearly 40 years."

But Republicans continue to hammer Biden on the economy.

"Joe Biden just claimed the U.S. is "entering 2022 in a position of unique economic strength" GOP Chairwoman Ronna McDaniel wrote on Twitter Monday. "The facts: Inflation is highest in 39 years, job growth has stalled, and the supply chain is in crisis."

Some economic experts beg to differ, however. Federal Reserve Chair Jerome Powell, who was nominated by former President Donald Trump, cheered the falling unemployment rate in December, saying, "amid improving labor market conditions and very strong demand for workers, the economy has been making rapid progress toward maximum employment."

Published with permission of The American Independent Foundation.

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Sen. Lindsey Graham, left and Rudy Giuliani

Youtube Screenshot

It’s not just the House Select Committee on January 6 that wants a better look at many of those involved in Donald Trump’s scheme to overturn the results of the 2020 election. Thanks to their wide-ranging activities in many states, investigations are going on at the local, state, and federal level into actions that Trump’s team took in attempting to reverse the will of the American people.

No state may have borne more of Trump’s focused fury than Georgia. President Joe Biden carried the state by over 12,500 votes, making it second to Arizona when it comes to the the narrowest margin of victory. This was far outside the realm of possible change that might be addressed by a recount, but Georgia conducted a recount anyway. When that didn’t make things any better for Trump, he requested that Georgia count a third time, which it did. Trump still lost, and by a bigger number than ever.

Keep reading... Show less

J.R. Majewski

Youtube Screenshot

A Republican House candidate for a competitive seat in northwest Ohio said Monday that mass shootings are an acceptable price to pay for his right to own guns.

"I don't care if countries in Europe have less shootings because they don't have guns. I care about THE UNITED STATES OF AMERICA and OUR 2nd Amendment Rights," Republican J.R. Majewski tweeted Monday evening. "I think Americans stopped caring what Europe thought of our country in 1776."

Keep reading... Show less
{{ post.roar_specific_data.api_data.analytics }}